179D Energy Incentives
Commercial building owners of newly constructed real estate may be eligible for a federal tax deduction of up to $5 per square foot starting in 2023 for building energy-efficient properties. Prior to 2023, the deduction allowed was $1.80 per square foot. The Inflation Reduction Act of 2022 strengthened this benefit to further incentivize buildings to be constructed with energy efficiency as top of mind.
In addition to building owners, primary designers (architects, engineers, and contractors), of qualifying energy efficient properties owned by non-taxable entities (governmental, non-profit etc.) may also claim the deduction when transferred to them by the non-taxable entity.
Schedule a free 15-minute consultation with us today to see how much of your tax liability we can eliminate.