Incentive can improve ROI of sustainability initiatives
Companies are setting increasingly ambitious goals in their environmental efforts, as reported in Area Development. It is a shift driven by investor and stakeholder demands for environmental sustainability and social responsibility, as well as governmental regulations and environmental taxes. Recent congressional action has extended a wide range of energy efficiency tax credits and deductions. One such incentive is the Internal Revenue Code (IRC) Section 179D deduction for energy-efficient commercial buildings. The Bipartisan Budget Act of 2018 (signed Feb. 9, 2018) extended the law to apply to eligible property placed in service from Jan. 1, 2006, through Dec. 31, 2017. Under Section 179D, owners of commercial buildings can take a deduction for the cost of making certain energy-saving improvements.
Topics: Building Owners and Managers