Upon completion of an energy evaluation, the qualifying interior lighting systems in this parking garage in Louisiana were found to meet and exceed the requirements for EPAct 2005. The lighting systems incorporated into the building were found to reduce the lighting power density by a 66.14%. This qualified investors for $156,000 in 179D energy tax deductions.
Upon further evaluation, Engineered Tax Services identified and assigned value to the building improvements for lighting that had been removed and replaced to enhance energy efficiency, maintain savings, and improve the quality of the lights. The retired assets were identified, valued, and discounted for the depreciation taken, generating an additional $94,259 in tax savings. The total tax benefits realized totaled $250,259.
Study Type | Percentage | Square Footage | Benefit Amount |
Disposition/Abandonment | N/A | N/A | $94,259.12 |
179D | 66.14% | 260,000 | $156,000.00 |
Total | $250,259.12 |