High energy costs, an unprecedented level of government mandates for green building, heightened demand for green construction, and improvements and better pricing for environmentally sustainable materials have many building owners, architects, and facility managers considering significant updates to save cash. Sec. 179D of the IRS Code provides a significant deduction for the cost of energy-efficient improvements to commercial property.
With an estimated 4.5 million existing commercial properties in the U.S. and with 14 percent of U.S. cities with populations of at least 50,000 having mandated green standards for new commercial buildings and dozens more poised to follow, the 179D tax deduction could help mitigate the average 3-7 percent cost difference in building green.
Source: BusinessWire
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