Where are the savings? That’s the theme of the building industry in this post-pandemic era. Many raw materials have increased in price, and construction budgets for commercial and residential high-rises are skyrocketing. This makes it more important than ever to know where the those savings are. These savings sometimes come from the least expected places. One of them is the 179D Energy Tax Deduction. This allows tax savings for measures that increase energy efficiency in buildings through the HVAC system. The 179D Energy Tax Deduction is also known as EPAct. It applies to commercial buildings, and multi-family residential buildings that are four stories or higher (above ground). Owners can expense up to $1.80 per square foot of the cost of improvements that increase energy efficiency.
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