Spring 2013 is approaching and building owners and contractors can still take advantage of energy tax incentive extensions applicable to both residential and commercial buildings.
In a last minute deal which avoided the so called “fiscal cliff”, Congress extended the energy efficiency tax credit for homeowners, and the tax credits and deductions for contractors and owners building energy efficient homes and commercial buildings. These extensions serve as fresh incentive for initiating "Green" Energy projects
The section 45L tax credit for new and retrofitted energy efficient residential dwellings was reinstated. Owners and contractors are eligible for tax credits for up to $2000 on residential dwellings that exceed IRS energy efficiency guidelines.
Also extended were residential improvements for systems and appliances under section 25C. Homeowners are eligible for credits of 10% of the cost of certain energy efficient home improvements, up to $500, across several categories of systems and appliances under section 25C. These categories include new energy retaining windows and doors, energy efficient HVAC, water heating appliances, insulation and sealing.
As April looms large and you prepare your Federal tax return, you may find it a good move to plan your energy efficient upgrades for your home or commercial building. Energy efficient systems not only improve your property and increase your property value, they save you monthly on your utility bills. And of course you can take advantage of the federal tax credits and other programs.
In our role as Energy Consultants and a qualified RESNET certification agency, we recommend considering a whole building /system approach to energy efficient rehabilitation. An important and cost effective first step in a whole building approach is to start with sealing and insulating, improving your building envelope.
EPA estimates suggest that building owners can save up to 1/5 of their HVAC costs by air sealing and insulting the attic of their building. The most expeditious and cost effective method to reduce these costs is through spray sealing and weather stripping and caulking in order to seal the building against the elements. In addition, you will increase the comfort of your building, and create a more healthy indoor environment. You will also increase the value of your property.
As the residential and commercial real estate markets finally begin to recover from the recession this year, more building owners will take advantage of the Green Energy tax advantages. New construction to code and retro fits are going to be a part of the re-awakening of the real estate market. Make sure you take full advantage of the incentives that are available to you.
Schultz Energy Consulting, LLC, will help you take advantage of the energy tax incentives available, under the section 45L and 179D tax codes. Make sure you contact John Schultz, at 715-340-2970, or on the website at http://schultzenergyconsulting.com/ to start your building certification process. You can potentially change your outlook for 2013 and beyond, by certifying your commercial or residential multi-unit building.