Federal tax incentives help you save money while saving energy.
Sometimes, everything goes your way.
You know what we mean—you wake up before your alarm clock goes off, you get a free Danish at your favorite coffee shop, and your projects at work are getting done ahead of schedule. It feels pretty great when things line up like that, doesn’t it?
We sure think so. That’s why we’re excited to talk about some of the federal tax incentives that reward your business for going green. Because hey, you probably already know you can save money by being more energy efficient, and sure, you’re probably taking full advantage of the myriad business rebates being offered by your favorite local co-op. But sweetening the pot even more with some federal tax incentives?
Well it must be your lucky day, friend. Here’s what you need to know.
There are way more incentives than you might expect.
A visit to Energy.gov’s rebates and incentives page turns up a lot of results for commercial companies. No, really—we’re talking more than a thousand. That also means there’s a lot of room for overlap with the rebates you can get through POWER MOVES®, whether you’re planning to update your lighting, thinking about a more efficient HVAC system, or even dreaming up a totally original idea for a new construction project.
Sure it’s a lot to wade through, but looking for those overlaps is a great way to maximize your savings. Energy efficiency is good for everybody, but if you take full advantage of the incentives that are out there you’ll find it’s especially good for your business.
Some incentives were extended through the end of last year.
You could be forgiven for not catching wind of the Bipartisan Budget Act, passed in February 2018. It’s not exactly the most memorable name we’ve ever heard. But what should catch your attention is that this little bill extended an important deadline for commercial energy efficiency upgrades.
Under the BBA, projects that took place in 2017 became eligible for the tax deduction. So if you spent part of 2017 working on projects to help your business save energy, you might also be eligible through this extension. And even if you didn’t start your project until 2018, keep an eye on this particular incentive—it’s already been extended multiple times since 2006, and we may see it extended again.
Your Energy Advisor is your secret weapon of savings.
When you’re running a business, you’ve got plenty on your plate. Trying to navigate the guidelines around rebates and incentives can feel like one task too many to add to your punchlist.
Fortunately, we’re here to help. To learn more about all the ways your business can benefit from energy efficiency upgrades, contact us today.