As businesses strive for greater sustainability, energy efficiency isn’t just good for the planet – it’s good for your bottom line. The 179D Energy Deduction and 45L Tax Credits offer significant financial incentives for businesses investing in energy-efficient building designs.
The 179D Energy Deduction – Savings for Commercial Properties
The 179D deduction rewards commercial property owners and designers who make energy-efficient upgrades. This includes improvements to HVAC systems, insulation, lighting, and building envelopes, providing up to $1.88 per square foot in deductions.
Case Study – Real Impact:
For instance, a corporate office in Los Angeles, CA, recently captured $300,000 in energy efficiency deductions through Parkhill’s guidance, reducing operating costs while enhancing sustainability.
The 45L Tax Credit – Savings for Residential Developers
For residential properties, the 45L credit provides up to $2,000 per unit for energy-efficient new construction. This is a powerful incentive for developers focused on reducing carbon footprints and lowering energy bills for tenants.
Case Study – Real Impact:
A residential development in Phoenix, AZ, claimed $200,000 in tax credits for newly constructed, energy-efficient homes – a significant financial boost that allowed the developer to invest in additional properties.
Go Green, Save More – Partner with Parkhill Today
Whether you’re building a new property or upgrading an existing one, Parkhill’s team of tax experts and engineers can guide you through the complex requirements of 179D and 45L, ensuring you capture every possible savings.
