179D Energy Tax Benefit for a Parking Garage Owner

LocationLightingSquare FootageAccelerated Tax Benefit
Peoria, AZ $0.6040,920$24,552.00
Helenda, MT $0.6091,725$55,035.00
Temecula, CA $0.60135,380$81,228.00
Brooklyn, NY$0.60135,901$81,540.60
Davie, FL$0.60258,242$154,945.20
Total  $397,300.80

179D Energy Policy Act

The 179D energy certification calculates the tax deduction achieved from the installation of energy-efficient assets, including HVAC, building envelope, and lighting. The building may qualify for up to $1.80 per square foot ($0.60 per square foot for each system); however, partial deductions are allowed for lighting.  The 179D energy deduction is available for newly constructed or energy renovated commercial buildings as well as apartment buildings 4 stories or more. Commercial property owners who pay taxes can claim the benefit with the exception of government-owned buildings where the tax deduction may be allocated to the designer. In order to qualify for these deductions, an analysis of your energy savings is required by a qualified firm like Engineered Tax Services. The savings are significant can additional tax benefits are often identified through the engineering process.