Energy Efficiency Incentives
INSPIRED TO FIND THE TAX SAVINGS YOU DESERVE
Energy Efficiency Incentives
Maximize your energy efficient credits and deductions with 179D and 45L
Energy efficient credits and deductions are available to businesses, but you might not know if you qualify. The current deductions/credits available include:
- Section 179D, a tax deduction that provides up to $1.80 per square foot for energy efficient commercial building property.
- LEARN MORE: What is Section 179D?
- Section 45L, a tax credit of up to $2,000 for residential dwellings utilizing energy-efficient technology.
- LEARN MORE: What is 45L?
Our professionals are nationally recognized industry specialists who have the expertise to help you maximize available deductions and credits. We'll take the time to understand your situation and help guide you through the process.
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How do you qualify for energy efficient tax credits and deductions?
The first step in understanding the energy efficient credits and deductions is knowing if you qualify. Here are some key indicators you are eligible for 45L or 179D:
- You are renovating an existing structure or building a new building.
- You are a building owner in the construction and real estate industries who uses energy efficient lighting or HVAC.
- You are a general contractor, electrical contractor, HVAC contractor, supplier, architect or engineer.
- You own a 10-unit or larger residential building including apartment buildings, townhomes or assisted living facilities.
Designers of Governmental Buildings Benefit from 179D
Choosing the Right Firm for Your Energy Efficient Credits and Deductions
Tax credits and deductions exist to help you save money and operate efficiently. But often the first step is even understanding if you qualify. Working alongside a trained professional who specializes in tax credits and deductions can help you make sense of your particular situation and maximize benefit.
Eide Bailly’s nationally recognized industry specialists have expertise to help you maximize energy efficient incentives and make a plan forward. They have worked with hundreds of clients, helping them achieve maximum benefit, equating to thousands of dollars saved.
Examples of organizations who have benefited from working with Eide Bailly’s energy efficient credits and deductions team include:
- We worked with a townhome complex owner to obtain the 45L credit. The complex was comprised of 56 units and included energy-efficient mechanical systems and building envelopes. By gathering the necessary information and completing the certification, the client received over $104,000 in credits on their current-year tax return; the maximum credit allowable would have been $112,000 (56 units x $2,000/unit).
- We worked with a manufacturing company to obtain the Section 179D deduction. The manufacturing facility underwent an 183,000 square foot expansion, which included installation of both energy efficient HVAC and lighting. By gathering the necessary information and completing the certification, the client received over $325,000 in deductions on their current year tax return.
Our energy efficient credits and deductions team understand the ins and out of the 179d energy efficient tax deduction and the 45L energy efficiency tax credit. They will help you assess your eligibility and then work with you to maximize the potential benefit of energy efficient incentives.
Take the confusion out of the energy efficient tax credits and deductions process. Work alongside a nationally recognized CPA firm with a proven track record of helping clients utilize the 179D and 45l credits.
Get started with your energy efficient tax credits and deductions today.