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Federal Tax Credit: 30% of the additional cost to install alternative energy systems in new homes such as:
- Geothermal heat pumps
- Solar panels
- Solar water heaters
- Wind energy
- Fuel cells
- Financing: FHA Energy Efficiency Mortgages allow lenders to add 100 percent of the additional cost of cost-effective energy efficiency improvements to an already approved mortgage loan (as long as the additional costs do not exceed $4000 or 5 percent of the value of the home, up to a maximum of $8000, whichever is greater). No additional down payment is required and the FHA loan limits won't interfere with the process of obtaining the EEM.
- Incentives: Utilities often offer incentives to customers who build homes to energy efficient standards
- State Housing Finance Authorities (HFAs) offer preferred financing for builders constructing subsidized housing achieving ENERGY STAR efficiency levels or higher such as ComfortHome.
Tax Credits
As our nation faces increased electricity demand, constraints in supply and global climate change, tax credits and loans have increased to help incentivize consumers to build and/or remodel to energy efficient standards.
For New Homes
New homes built to energy efficiency standards and thresholds can qualify you for valuable government and utility incentives, including:
For Existing Homes
Existing homes with energy efficiency upgrades can qualify for valuable government and utility incentives, including:
- Tax Credits: 30% back in Federal tax credits (up to $1,500) for energy improvements such as building insulation, windows and doors.
- Incentives: Utilities often offer financial incentives for energy efficiency improvements
- State loan programs: for energy efficiency improvements
To find out what programs may be available in your area or to read more about these programs, we encourage you to visit the Database of State Incentives for Renewables & Efficiency established by NC State University. This online database is a comprehensive source of federal, state, local and utility company incentives that promote renewable energy and energy efficiency.
To find out about utility rebates and incentives for energy efficiency and conservation upgrades, contact ComfortHome at 1-800-367-7223 or your local electric distribution company and ask about energy conservation rebates and incentive programs.