By Heidi Henderson, Director of Marketing and Business Development
Two federal tax incentive programs designed to encourage energy efficiency design and construction are expiring on December 31st of this year.
1. The 179D Energy Policy Act program allowing up to $1.80/SF of tax deductions for improvements to your HVAC, Lighting and Building Envelope. This is a tax deduction that is available for private property owners and designers who work on public projects! This bill offers significant tax savings for commercial property owners on new construction and renovations!
2. The 45L tax credit offers a $2,000 tax credit per unit on Multi-Family projects that have recently been constructed or renovated for energy efficiency.
In both cases we hope that these beneficial bills will be extended into future years. However, qualifying standards will likely become difficult so we recommend taxpayers to consider these incentives before the end of the year!
For more information or to see if your building qualifies, please email or call (561) 253-6640.