Website Offers Efficiency Tax-Break Info
Staff -- Consulting-Specifying Engineer, 3/1/2006
Commercial building owners who want to learn more about new tax deductions for energy-efficiency investments have a new online resource, developed by a coalition of industry trade associations. The new website, www.efficientbuildings.org, provides background information and other resources for building owners.
Building owners only have two years to take advantage of tax deductions for energy-efficiency investments, which can total up to $1.80 per sq. ft. To receive these deductions, related improvements must be placed in service in 2006 or 2007 and increase efficiency by at least 50%, with partial credit available for efficiency improvements that meet lower targets.
Calculating both the energy savings and the resulting qualifying deductions can be complicated, the site's developers say. The site provides an extensive question-and-answer section, along with links to industry groups and government agencies that can provide more information.
The site is sponsored by the Commercial Building Tax Deduction Coalition, which includes most leading building trade groups along with the U.S. Environmental Protection Agency. It was developed by the National Electrical Manufacturers Assn.
