I am constructing a new home. Can I claim the energy conservation installation credit?
Yes you can. For new buildings, eligible investments are energy saving materials or systems that exceed the 2003 International Energy Conservation Code requirements for Montana or established standards of construction. The extra costs associated with building the home above energy code minimum requirements are considered eligible investments for this tax credit. Your investment that only meets the requirements of the 2003 IECC is not an eligible investment for purposes of the credit. For example, if you install an ENERGY STAR qualified furnace in a new home construction project, the incremental cost of the qualified furnace and its installation cost that exceed the cost of a conventional furnace that is required by IECC will qualify for the energy conservation credit.
Related Questions
- I plan to build a home and occupy it in 2009 or early 2010. Can I claim the first-time homebuyer credit now and use the funds toward the down payment or other ongoing construction costs?
- I am constructing a new home. Can I claim the energy conservation installation credit?
- Can a homeowner claim the credit for improvements to a second home?
