Q: What is the Energy Policy Act of 2005 (EPACT)?
A: In an effort to combat growing energy problems, if certain requirements are met per the Energy Policy Act of 2005, it allows a tax deduction for energy-efficient commercial buildings that reduce annual energy and power consumption by 50%. Up to the entire cost of the energy-efficient lighting may be deducted on the owner’s taxes (given certain restrictions).
A tax deduction of up to $1.80 per square foot is available to owners or designers of new or existing commercial buildings that save at least 50% of the heating and cooling energy of a building that meets ASHRAE Standard 90.1-2001. Partial deductions of up to $.60 per square foot can be taken for measures affecting any one of three building systems: the building envelope, lighting, or heating and cooling systems. These tax deductions are available for systems “placed in service” from January 1, 2006 through December 31, 2013.
You can learn more by calling one of our Sales Associates who can lead you to our distributors and ESCO partners that can help you be on your way to saving money and promoting a better world.
