Applauding Passage of House Energy Legislation,
Builders Say it Will Promote Home Energy Efficiency
WASHINGTON, April 11 - Comprehensive energy legislation passed today
by the U.S. House of Representatives would encourage thousands of home
builders to seek technical advances that increase energy efficiency, promote
energy conservation in new and existing homes and help reduce America's
dependence on oil imports, according to the nation's home builders.
"The housing provisions in H.R. 6, the 'Energy Policy Act of 2003,'
include key home energy efficiency tax credits originally introduced by
Rep. Jerry Weller (R-Ill.), with some modifications. The legislation would
spur builders to invest in market- and technology-driven initiatives that
would promote higher levels of energy efficiency at more reasonable costs,"
said Jerry Howard, executive vice president and CEO of NAHB.
For new home construction the legislation would provide builders with
a voluntary tax credit of $2,000 for each home built to 30 percent above
the 2000 International Energy Conservation Code (IECC). Building
to 30 percent above the 2000 IECC is more energy efficient than the US
government's current energy efficiency gold standard - Energy Star.
"This will motivate builders to take on the challenges of building
higher energy efficiency into new homes. In turn, builders will have an
incentive to market their energy efficient homes to consumers, spurring
demand for higher energy efficiency homes in the market at an affordable
price," said Howard.
H.R. 6 also provides consumers a tax credit of up to $2,000 on the cost
of qualified home remodeling projects that improve energy efficiency.
"This provision encourages individual households to upgrade the energy
efficiency of their homes, helping families shave hundreds of dollars
off of their annual heating and cooling bills," said Howard, who
noted that reduced energy consumption eases America's reliance on imported
oil.
When House and Senate bills are considered in a conference committee,
NAHB will be lobbying on behalf of restoring a tax credit of $2.25 per
square foot for multifamily buildings that are 50 percent more efficient
than properties built to standards of the American Society of Heating,
Refrigerating and Air-Conditioning Engineers. This credit was dropped
from H.R. 6 prior to that bill's passage.
The Senate energy tax package — which includes home energy efficiency
tax credits at levels slightly lower than those in the House bill —
is making its way through committee and is not expected to be ready for
a vote on the full Senate floor until later this spring.
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