Are You Eligible for Energy-Efficiency Tax Breaks?

April 2, 2021

Are You Eligible for Energy-Efficiency Tax Breaks?

The Consolidated Appropriations Act (CAA) extended certain tax breaks for energy-efficient buildings that were set to expire at the end of 2020. So, now may be a good time for eligible real estate owners and developers to review the potential benefits.

First, the CAA made permanent the Section 179D commercial buildings energy-efficiency tax deduction. Sec. 179D allows commercial building owners (and certain lessees) to deduct up to $1.80 per square foot for the installation of qualifying energy-efficient lighting, HVAC, and building envelope systems in new or existing buildings. Architects, engineers or contractors who design government-owned energy-eﬃcient buildings may also be able to claim the deduction.

The CAA also extended, through the end of 2021, the Section 45L tax credit. Sec. 45L provides eligible home builders and apartment developers with a credit of up to $2,000 for each new dwelling unit that meets certain energy-efficiency standards.

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This material is generic in nature. Before relying on the material in any important matter, users should note date of publication and carefully evaluate its accuracy, currency, completeness, and relevance for their purposes, and should obtain any appropriate professional advice relevant to their particular circumstances.

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