Tax Credits and Incentives
In addition to the many benefits of building or living in a green home, there are many financial incentives that can help make green building and homeownership even more affordable.
New Tax Credit for First Time Buyers:
The government has recently passed into law a bill aimed at revitalizing the housing industry. Part of the bill allows for a $7,500 tax credit for first time home buyers.Visit www.federalhosuingtaxcredit.com for an explanation of the how the credit works.
Funding opportunities and incentives:
- The Database of State Incentives for Renewables & Efficiency (DSIRE) provides a comprehensive database of state, federal, and utility incentives, rebates, and tax credits for using materials and practices that promote renewable energy and energy efficiency. The information is searchable by a number of variables, including state, technology, type of incentive, and more.
- The ENERGY STAR program includes among its many resources a listing of tax credits for consumers and homeowners, home builders, and manufacturers.
- The Green Building section of the U.S. Environmental Protection Agency (U.S. EPA) website features a directory of green building funding sources targeted for several audiences including consumers, and industry sectors.
Financing and Loans
- The Federal Citizen Information Center offers a Energy Efficient Mortgage (EEM) Home Owner Guide, which details the benefits and opportunities of this type of financing.
- The Department of Housing and Urban Development also contains information about EEMs, and provides links to more information.
- The Residential Energy Services Network (RESNET) offers frequently asked questions and additional resources on EEMs.
- The ENERGY STAR website explains the three types of EEMs.