Government Tax deductions through EPAct
In 2005, the US federal government signed into law the Energy Policy act (EPAct) which included the Energy Efficient Commercial Buildings Tax Deduction. The tax deduction enhanced the financial attractiveness of retrofitting lighting into more energy efficient solutions.
EPAct allows the cost of the lighting system to be deducted in a single year rather than depreciated over several years. The total amount that can be deducted is capped between $0.30 and $0.60 per square foot on a sliding scale based on a 25% to 40% reduction below the maximum allowable lighting power density (W/sp/ft).
Projects completed by January 1, 2014 were originally intended to qualify for the Commercial Buildings Tax Deduction. However extensions of the deduction through EPAct have been and will continue to be debated through the end of 2014 by Congress. Walker Reid Strategies keeps a watchful eye on the latest progress.
Qualification of tax deductions require following federal guidelines and a third party certification. National Retrofitting Group is third party certified and has significant experience in assisting our customers with maximizing tax deductions. Contact us today and a member of our team will provide a free evaluation of your potential tax deductions.