Ekotrope Identifies $160M Potential in Homes Nearly Passing the 45L Tax Credit
The #1 provider of energy rating software revealed that over 60K homes energy rated with their application in 2022 failed to meet the new version of the tax credit's requirements by a margin of 10% or less.
BOSTON, October 26, 2022 (Newswire.com) - Ekotrope, the #1 provider of home energy rating tools used to analyze more than 1 in 4 new U.S. homes, announced a new quarterly webinar series titled "The State of the Industry Update."
The company will utilize energy rating data of nearly 1 million homes to educate industry stakeholders about different residential home energy efficiency market insights to achieve better alignment and allow for more informed decisions.
The first webinar, aired on Sept. 29, centered around the new 45L Tax Credit opportunity. With the new Inflation Reduction Act, in 2023 builders will be able to claim a tax credit of $2,500 for meeting Energy Star 3.1 and $5,000 for meeting DOE Zero Energy Ready. Ekotrope's analysis revealed that there were over 60 thousand homes rated with Ekotrope in 2022 that failed to meet the new tax credit's requirements by a compliance margin of 10% or less. If these homes were slightly more energy-efficient, they could claim over $160 million in projected tax credits.
More specifically, the Ekotrope team found that most of these builders only needed to change a few simple specifications in order to pass the compliance threshold in 2023.
This revelation comes at a critical time for industry stakeholders as residential construction starts are projected to decline in the coming months. Not only can builders rely on the 45L Tax Credit through December of 2032, but compliance with the legislation is not as difficult as once thought.
The State of the Industry Update series represents just one of the many ways Ekotrope is utilizing its wealth of data to strengthen the impact of the new construction industry.
"Ekotrope is committed to using its leadership position and visibility into the market to empower the industry to build more cost-effective, energy efficient homes. We aim to transform the industry by bringing timely, data-backed insights to industry stakeholders."
- Ziv Rozenblum, CEO and Cofounder
This quarterly webinar series is curated for those interested in learning more about market opportunities associated with home performance, energy efficient building trends and ESG. Anyone whose work is related to energy-efficient new home construction is encouraged to attend. For example, raters, builders, utility representatives and program implementers, building product manufacturers, etc.
Watch the recording of the September webinar here. Follow Ekotrope on LinkedIn for updates about the next installment of the series, set to air in December. To learn more about Ekotrope, visit ekotrope.com or contact info@ekotrope.com.
Source: Ekotrope
