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Energy and Home Owner Tax Credits Included in Budget Accord

February 2018

As part of the Bipartisan Budget Act of 2018, which was signed into law on February 9, Congress retroactively extended a number of expired energy and home owner tax provisions.

The following tax credits were reinstated on a retroactive basis for 2017 only:

NAHB members should note that this extension does not indicate future extensions will occur again. The White House’s official Statement of Administration Policy on the enacted bill questions the need for future extensions: “Furthermore, the Administration is concerned with future extensions of special interest tax deductions and benefits in the wake of tax cuts and reforms that were enacted in December 2017.”

Section 25D Tax Credit for Power Production Property

Congress also included a fix NAHB had sought for the Section 25D tax credit, which offers a 30% tax credit for the installation of qualifying alternative energy equipment.  In 2016, Congress extended the 25D tax credit but limited its use to solar technology only.

This bill restores the ability to claim the 25D tax credit for geothermal heat pumps, small wind turbines, and fuel cell property.  Unlike the credits listed above, the Section 25D tax credit remains in effect for 2018 under a phase-out regime.  The applicable credit rates under the phase-out regime are:

Starting in 2022, this credit is scheduled to expire.

For more information, contact J.P Delmore at 800-368-5242 x8412.

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