March 29, 2023
Filed Under: Homebuying

Sustainable Home Tax Benefits

Tax season is fast approaching! When you live in an energy-efficient new home, you can reap numerous tax benefits thanks to newly reinforced legislation.

Whisper Valley’s zero energy capable homes are eligible for these tax credits, which makes living in a sustainable home even more advantageous. Read on to learn more about sustainable home tax benefits.

Renewable Energy Tax Credits

Last year, the Inflation Reduction Act added thousands of dollars in tax credits for homebuyers who choose sustainable new homes or make energy efficiency upgrades to their homes. From 2022-2032, the investment tax credit (ITC), also known as the federal solar tax credit, allows homeowners to write off 30% of the cost of the renewable energy systems in their homes. The credit will fall to 26% in 2033 and 22% in 2034.

This year, new Whisper Valley homeowners can write off 30% of the value their home’s solar photovoltaic (PV system) and on the above-ground geothermal equipment in the home. This includes the ground-source heat pump (including installation) that drives the geothermal heating and cooling system in each home.

The total system value depends on the size of the home and the system, which varies for each home, but could total up to $6,000-$10,000. Consult your tax preparer to ensure accuracy in calculating the tax credit and to achieve the maximum benefit.

If you’re ready to buy a new home in Austin, you’ll be able to claim the 30% ITC tax credit through 2032!

Add Resiliency with a Home Battery

Following the widespread power outages during 2021’s Winter Storm Uri and 2023’s Winter Storm Mara, more Austin homebuyers are searching for homes that can operate independently from the grid. Whisper Valley homebuyers are able to add an optional home battery upgrade to their new homes to store excess solar energy for use at night and during power outages.

The ITC tax credit also includes home battery storage technology, which is another huge advantage for Whisper Valley homebuyers who want to add resiliency to their home.

EV Tax Credits

All Whisper Valley homes are prewired for EV charging, and our community is also an official Tesla Destination Charging Partner. We’d be remiss not to mention the extended electric vehicle tax credits worth up to $7,500! The tax credit is available through 2032 to consumers who buy new all-electric vehicles and hybrid plug-in vehicles.

Sustainable Homes in Austin

It’s never been a better time to buy an energy efficient home and receive sustainable home tax benefits! Whisper Valley is an award-winning Austin community featuring homes powered by geothermal and solar energy.

New homes are now selling from the $300s-$600s in the newest phases of Whisper Valley. Contact our builders to learn more and make a plan to visit our community during our Green Home Tour on Saturday, April 22, to tour available homes and learn more about Whisper Valley living.