New Home Buyers Increasingly Claim Energy-Efficient Tax Credits
NAHB found that the most claimed qualifying activity for the 25D credit in 2020 was the installation of solar electric property.
In recognition of New Homes Month in April, it is important to highlight that taxpayers are taking advantage of new home energy-efficiency related tax credits. A recent Internal Revenue Service data analysis by the National Association of Home Builders (NAHB) indicates that more than 800,000 taxpayers claimed a new home-related energy-efficiency tax incentive.
“Builders have found that buyers are seeking out new homes with durable designs and sustainable features that make their home cost-effective to operate,” said NAHB Chairman Alicia Huey, a custom home builder and developer from Birmingham, Ala. “Whether it’s efficient lighting options or appliances, many home builders are voluntarily incorporating green features into newly-built homes to meet consumer demand.”