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Tax Advantages of an Energy Efficiency Audit

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http://www.capitalreviewgroup.com A discussion on the tax advantages of an energy efficiency audit for your commerical building.

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Tax Advantages of an Energy Efficiency Audit

  1. 1. ENERGY TAX ADVANTAGES INCENTIVES REBATES
  2. 2. INCENTIVES: CREDITS – DEDUCTIONS - REBATES <ul><li>INCENTIVE: Any factor that enables or motivates a particular course of action, or counts as a reason for preferring one choice to alternatives. </li></ul><ul><li>REBATE: An amount paid by way of reduction, return, or refund on what has already been paid or contributed. </li></ul><ul><li>CREDIT (TAXATION): A reduction of taxes – dollar for dollar. </li></ul><ul><li>DEDUCTION: Reduces taxes by the percentage fixed for the taxpayer's income bracket </li></ul>
  3. 3. ARIZONA INCENTIVES <ul><li>Combination of : </li></ul><ul><ul><ul><li>Incentives </li></ul></ul></ul><ul><ul><ul><li>Credits </li></ul></ul></ul><ul><ul><ul><li>Deductions </li></ul></ul></ul><ul><ul><ul><li>… .participates in Federal Programs </li></ul></ul></ul>
  4. 4. ARIZONA INCENTIVES <ul><li>Corporate Tax Credit Non-Residential Solar & Wind Tax Credit </li></ul><ul><li>   Green Building Incentive Chandler - Fee reimbursement for LEED Cert </li></ul><ul><li>Scottsdale – Expedited plan review Buckeye – Expedited plan review, free construction H20 passes (Aqua Ctr) GR CO Tucson – Solar credit $1000 </li></ul><ul><li>    Personal Deduction Energy Efficient Residences Qualifying Wood Stove Deduction </li></ul><ul><li>   Personal Tax Credit Non residential Solar & Wind Tax Credits Residential Solar & Wind Energy Systems </li></ul><ul><li>    Property Tax Assessment Property Tax Assessment for Renewable Energy Property </li></ul><ul><li>   Property Tax Exemption Solar Energy Property Tax Exemption </li></ul><ul><li>   Sales Tax Exemption Solar & Wind Equipment Sales Tax Exemption </li></ul>
  5. 5. ARIZONA INCENTIVES <ul><li>Utility Loan Program APS - GEOSmart Financing Program Sulphur Springs Valley EC - Member Loan Program Sulphur Springs Valley EC - SunWatts Loan Program </li></ul><ul><li>Utility Rebate Program APS - Energy Efficiency Solutions for Business APS - Energy Efficient AC Rebate Program APS - Renewable Incentive Program SRP - EarthWise Solar Energy SRP - PowerWise Business Solutions Energy Efficiency Rebate Program Sulphur Springs Valley EC - Residential Energy Efficiency Rebate Sulphur Springs Valley EC - SunWatts Rebate Program TEP - Commerical Energy Efficiency Rebate Program TEP - Renewable Energy Credit Purchase Program TEP - Residential Energy Efficiency Rebate Program Trico Electric Cooperative - SunWatts Incentive Program UES - Commercial Energy Efficiency Rebate Program UES - Energy Smart Homes Program </li></ul>
  6. 6. FEDERAL INCENTIVES: CREDITS OR DEDUCTIONS <ul><li>- Energy Efficient Commercial Buildings Tax Deduction - Energy Efficient New Homes Tax Credit for Home Builders - Modified Accelerated Cost Recovery System (MACRS) + Bonus Business Energy Investment Tax Credit (ITC) - Qualified Energy Conservation Bonds Qualifying Advanced Energy Project Investment Tax Credit Renewable Electricity Production Tax Credit (PTC) Renewable Energy Production Incentive (REPI) - Tribal Energy Program Grant Residential Energy Conservation Subsidy Exclusion (Corp) Residential Energy Conservation Subsidy Exclusion (personal) Residential Energy Efficiency Tax Credit - US DOE – Loan Guarantee Program Residential Renewable Energy Tax Credit - Clean Renewable Energy Bonds (CREBS) Energy Efficient Appliance Tax Credit for Manufacturers - Energy Efficient Mortgages Federal Appliance Standards - US Dept of Treasury – Renewable Energy Grants US Federal Government – Green Power Purchasing Goals USDA – Rural Energy for America Program Grants (REAP) USDA – Rural Energy for America Program Loan Guarantees (REAP) </li></ul><ul><li>Energy Goals and Standards for Federal Buildings Energy Reduction Goals for Federal Agencies </li></ul><ul><li>Interconnection Standards for Small Generators </li></ul>
  7. 7. FEDERAL OPPORTUNITIES <ul><li>Energy Efficient Commercial Buildings Tax Deduction (for taxpayer and primary designer) </li></ul><ul><li>Energy Efficient New Homes Tax Credit for Home Builders (both site built and manufactured) </li></ul><ul><li>Renewable Credits (ITC) </li></ul><ul><li>Modified Accelerated Cost Recovery System (MACRS) + Bonus </li></ul>
  8. 8. FEDERAL CREDITS: ITC <ul><li>Solar: Water Heater </li></ul><ul><ul><ul><ul><li>Space Heater </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Thermal Electric </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Thermal Process Heat </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Solar Hybrid Lighting </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Photovoltaics (PV) </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Geothermal: Electric </li></ul></ul></ul></ul><ul><ul><ul><ul><li> Heat Pumps </li></ul></ul></ul></ul><ul><ul><ul><ul><li> Direct Use </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Fuel Cells </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Wind </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Biomass </li></ul></ul></ul></ul><ul><ul><ul><ul><li>CHP/Cogeneration </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Microturbines </li></ul></ul></ul></ul>
  9. 9. FEDERAL CREDITS: ITC Commercial, Industrial, Utilities <ul><li>SOLAR: 30% of costs – NO CAP </li></ul><ul><li>FUEL CELLS: 30% of costs – NO CAP ($1500/.5KWh) </li></ul><ul><li>SMALL WIND TURBINES: 30% of costs – NO CAP (<100kW) </li></ul><ul><li>GEOTHERMAL SYSTEMS: 10% of costs NO CAP </li></ul><ul><li>MICROTURBINES: 10% OF COSTS – $200/Kw of capacity </li></ul><ul><li>CHP: 10% of costs – </li></ul>
  10. 10. COMMERCIAL BUILDINGS EPACT 2005TAX DEDUCTION Section 179D
  11. 11. COMMERCIAL BUILDINGS Section 179D <ul><li>Deduction = up to $1.80/sq ft for reduction of total energy use by 50% (whole building) </li></ul><ul><li>Partial Deduction of $.60/sq ft for 16 2/3 energy reduction for any one of the three systems </li></ul><ul><li>Energy modeling required </li></ul><ul><li>New construction, retrofits </li></ul>
  12. 12. COMMERCIAL BUILDINGS Section 179D <ul><li>INTERIM RULE: LIGHTING </li></ul><ul><li>Watts per square foot </li></ul><ul><li>Space by space approach </li></ul><ul><li>BI-LEVEL SWITCHING MANDATORY </li></ul><ul><li>EXCLUSIONS: </li></ul><ul><ul><li>Lobbies, guest rooms, rest rooms, storerooms </li></ul></ul>
  13. 13. COMMERCIAL BUILDINGS Section 179D INTERIM LIGHTING RULE From $.030/sq ft for exceeding ASHRAE 90.1 2001 by 25% From $.060/sq ft for exceeding ASHRAE 90.1 2001 by 40% Exception: Warehouses MUST exceed by 50% ASHRAE 90.1 2001
  14. 14. COMMERCIAL BUILDINGS Section 179D <ul><li>PUBLIC – GOVERNMENT BUILDINGS: </li></ul><ul><li>“ Primary Designer” may qualify for the deduction benefits (one who creates the technical specifications) </li></ul>
  15. 15. COMMERCIAL BUILDINGS Section 179D <ul><li>CERTIFICATION FOR SECTION 179D </li></ul><ul><li>Third – party certification </li></ul><ul><li>Party “not-related” to taxpayer </li></ul><ul><li>Approved software (by IRS) required </li></ul><ul><li>Deduction may be taken for projects from 1.1.06 through 12.31.13 </li></ul>
  16. 16. HOME BUILDER CREDIT <ul><li>$1000 to $2000 </li></ul><ul><li>SITE BUILT AND MANUFACTURED HOMES </li></ul><ul><li>Homes completed post August 8, 2005 – purchased after December 31, 2005 and prior to </li></ul><ul><li>January 1, 2009 </li></ul>
  17. 17. HOME BUILDER CREDIT <ul><li>$1,000 to $2,000 CREDIT </li></ul><ul><li>Qualification: </li></ul><ul><ul><li>Built in the US </li></ul></ul><ul><ul><li>Construction “substantially” completed post 8.8.2005 </li></ul></ul><ul><ul><li>Meets statutory energy savings requirements </li></ul></ul><ul><ul><li>Acquired from the eligible contractor after 12.31.2005 and prior to 1.1.2008 – for use as a residence </li></ul></ul>
  18. 18. HOME BUILDER CREDIT <ul><li>SITE BUILT = 50% energy reduction $2,000 (International Energy Conservation Code Standard ) </li></ul><ul><li>MANUFACTURED HOME = $1,000 - $2,000 </li></ul><ul><ul><ul><li>30% to 50% energy reduction </li></ul></ul></ul><ul><ul><ul><li>Must receive certification </li></ul></ul></ul>
  19. 19. DEPRECIATION Modified Accelerated Cost Recovery System (MACRS) + Bonus <ul><li>How to get the Feds to underwrite an energy efficiency project </li></ul><ul><li>Modify asset classification to “catch up” missed depreciation </li></ul><ul><li>Bonus of 50% on “NEW” assets </li></ul>
  20. 20. DEPRECIATION <ul><li>Depreciation is about “useful life” </li></ul><ul><li>IRS has it’s own rules about “useful life” </li></ul><ul><li>Commercial property = 39 years </li></ul><ul><li>Commercial residential – 27.5 years </li></ul><ul><li>“ Real Property” vs. “Tangible Personal Property” </li></ul><ul><li>39 year assets (27.5) </li></ul><ul><li>15 year assets </li></ul><ul><li> 5 year assets </li></ul>
  21. 21. RECLASSIFICATION
  22. 22. IRS OPTIONS <ul><li>“ Catch up” missed “Catch up” missed depreciation: </li></ul><ul><ul><ul><ul><li>Existing/owned property (since 1992) </li></ul></ul></ul></ul><ul><li>Start with correct depreciation: </li></ul><ul><ul><ul><ul><li>New construction or acquisition </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Remodels/retrofits/additions </li></ul></ul></ul></ul>
  23. 23. “ BONUS” DEPRECIATION <ul><li>Assets, 2008 & 2009 </li></ul><ul><li>50% “Bonus” on “NEW” assets </li></ul><ul><li>Combine Section 179 with “Bonus” (expense + bonus) </li></ul>
  24. 24. INFORMATION <ul><li>Difficulty in keeping up with new federal and state opportunities </li></ul><ul><li>Approximately 60 new initiatives monthly </li></ul>
  25. 25. ESSENTIAL WEB SITES <ul><ul><li>www.energy.gov - Department of Energy </li></ul></ul><ul><ul><li>www.energystar.gov – Variety of discussion residential & comm </li></ul></ul><ul><ul><li>www.epa.gov/greenbuilding - Discussions of sustainability </li></ul></ul><ul><ul><li>www.irs.gov – Tax info: Notice 2006-52/N2008-40/IRB2008-14 </li></ul></ul><ul><ul><li>www.dsireusa.org – All states and federal incentives </li></ul></ul><ul><ul><li>www.ashrae.org – All Standards </li></ul></ul><ul><ul><li>www.aceee.org – American Council for an Energy Efficient Economy </li></ul></ul><ul><ul><li>www.energytaxincentives.org – Tax Incentives Assist Project (TIAP) </li></ul></ul><ul><ul><li>www.usgbc.org – Leed & sustainability </li></ul></ul><ul><ul><li>www.greenbuildings.com – Principally residential </li></ul></ul>
  26. 26. THANK YOU! Marky Moore, LEED AP President CAPITAL REVIEW GROUP 602 741.7776 – Direct [email_address]

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