The Energy Policy Act (EPA) of 2005 provides building owners, property managers and architects with an incentive to make energy-efficient upgrades to their buildings. There are three qualifying subsystems for the Commercial Tax Credit incentives, and these are:
- HVC
- Building Envelope
- Lighting system
These are each eligible for a $.60 per square foot tax reduction. Implementing all three results in a $1.80 per square foot tax reduction. While it may seem small, upgrades to a 100,000-square-foot building could yield a $72,000 deduction.
In a case where the 50 percent threshold has not been met, there is a partial tax deduction provided for commercial buildings under the EPA of 2005.
The tax deductions provided under the EPA of 2005 are valid from January 1, 2006, through December 31, 2007. The Economy Stabilization Act of 2008 further extends the benefits of the EPA through December 31, 2013.
To qualify for Commercial Tax Credit, a building must enter service or undergo retrofitting after December 31, 2005, and before January 1, 2014.
3M Sun Control Window Films are a qualifying product that can help you get a portion of this tax deduction. Please contact Window Film Depot for a complimentary feasibility study. Call 1-866-933-345
