This document discusses several tax benefits available to engineering and architecture firms for research and development activities and energy efficient commercial building projects:
1. Research and development tax credits at the federal and state level can provide up to 9% of qualified research expenses. Pennsylvania offers an additional credit of up to 10-20% depending on business size. Strict documentation of experimental activities is required.
2. The IRC 179D energy efficient commercial buildings deduction provides $1.80/sqft for whole building projects or $0.60/sqft for lighting, HVAC, or envelope projects that reduce energy usage by specified percentages.
3. Additional opportunities include production tax credits for renewable energy production, investment tax credits for alternative
1. Operations involves investigating existing buildings to identify efficiency opportunities through audits, data gathering, benchmarking and energy modeling. This establishes a baseline for comparison.
2. Key opportunities are then identified to reduce energy use by 20-50% through retrofitting building systems like lighting, HVAC and controls. Water and waste reductions are also considered.
3. Continuous monitoring of building performance data allows operations to improve ongoing efficiency and ensure savings through retrocommissioning.
Visit for more details and webinar recording: http://bit.ly/frankenenergyforum
More than 100 Minnesota local government officials and business leaders gathered recently at the University of Minnesota St. Paul Campus--along with more than 50 on a live webinar--to talk about retrofitting buildings. The event was officially called the _Forum on Energy Savings: Retrofitting Programs for Minnesota Cities, Counties, and Businesses.
According to Senator Al Franken, who convened the event, renovating buildings to make them more energy-efficient--called retrofitting--saves money, improves real-estate values, strengthens our infrastructure--and could be the next big thing for Minnesota's economy. Energy-efficient retrofits will also create badly-needed jobs in both the construction and manufacturing industries.
Senator Al Franken joined with a number of Minnesota partners to hold this forum, including the Clean Energy Resource Teams, University of Minnesota's Institute on the Environment, MN Chapter of the Energy Services Coalition, Minnesota Pollution Control Agency, Urban Land Institute, Minnesota Waste Wise, and the Minnesota Department of Commerce. Deputy Secretary Daniel B. Poneman with the U.S. Department of Energy was a guest speaker.
This document provides an overview of international tax tips and traps. It begins with a tip about using a Domestic International Sales Corporation (IC-DISC) to receive tax benefits from export sales. Next, it discusses a trap related to recognizing Subpart F income from controlled foreign corporations. Finally, it notes potential international tax changes in countries like China, France, and the United States that could impact multinational companies.
This document provides an overview of federal tax incentives for green energy and sustainability for businesses. It lists several key questions to ask to determine eligibility for various energy tax credits and deductions. These include credits for investing in alternative energy property, purchasing electric vehicles, installing refueling property, and more. The incentives are aimed at various industries including energy producers, manufacturers, developers and utilities. The summary also notes the need to check state and local incentives which may provide additional benefits.
The document provides an overview of Australia's new Research and Development Tax Incentive program which took effect on July 1, 2011. It outlines that the program provides a 45% refundable tax offset for companies with under $20 million in turnover, and a 40% non-refundable tax offset for companies over $20 million. It describes eligibility requirements around core and supporting R&D activities, qualifying expenditures, oversight bodies, registration process, and integrity rules around issues like grants, feedstock, and transfers.
The document provides information about Brian Wages, a tax credits and incentives specialist. It summarizes Brian's background, areas of expertise in tax credits, and contact information. It then provides summaries of cost segregation, R&D tax credits, and green energy incentives. Cost segregation allows identifying property costs that can be depreciated faster. R&D tax credits require qualified research activities. Green energy incentives include section 179D deductions and solar investment tax credits. The document aims to educate manufacturers on available tax savings opportunities.
February 2012 - Michigan Energy Forum - Wendy BarrottAnnArborSPARK
February’s Michigan Energy Forum event, Financing Your Commercial Energy Project, will focus on highlighting an array of financial mechanisms that exist to help commercial building owners make their energy efficiency and/or renewable energy project a reality.
2012 Federal Budget - Scientific Research & Experimental Development (SR&ED) ...MNP LLP
Innovation has become critical in the manufacturing industry. Global competition, the need to do more with less, and labour issues mean that companies must develop new ideas and processes if they want to stay in the game. In Budget 2012 the Canadian government announced a number of changes to the way it fosters innovation that could help manufacturers deal with the challenges they face.
1. Operations involves investigating existing buildings to identify efficiency opportunities through audits, data gathering, benchmarking and energy modeling. This establishes a baseline for comparison.
2. Key opportunities are then identified to reduce energy use by 20-50% through retrofitting building systems like lighting, HVAC and controls. Water and waste reductions are also considered.
3. Continuous monitoring of building performance data allows operations to improve ongoing efficiency and ensure savings through retrocommissioning.
Visit for more details and webinar recording: http://bit.ly/frankenenergyforum
More than 100 Minnesota local government officials and business leaders gathered recently at the University of Minnesota St. Paul Campus--along with more than 50 on a live webinar--to talk about retrofitting buildings. The event was officially called the _Forum on Energy Savings: Retrofitting Programs for Minnesota Cities, Counties, and Businesses.
According to Senator Al Franken, who convened the event, renovating buildings to make them more energy-efficient--called retrofitting--saves money, improves real-estate values, strengthens our infrastructure--and could be the next big thing for Minnesota's economy. Energy-efficient retrofits will also create badly-needed jobs in both the construction and manufacturing industries.
Senator Al Franken joined with a number of Minnesota partners to hold this forum, including the Clean Energy Resource Teams, University of Minnesota's Institute on the Environment, MN Chapter of the Energy Services Coalition, Minnesota Pollution Control Agency, Urban Land Institute, Minnesota Waste Wise, and the Minnesota Department of Commerce. Deputy Secretary Daniel B. Poneman with the U.S. Department of Energy was a guest speaker.
This document provides an overview of international tax tips and traps. It begins with a tip about using a Domestic International Sales Corporation (IC-DISC) to receive tax benefits from export sales. Next, it discusses a trap related to recognizing Subpart F income from controlled foreign corporations. Finally, it notes potential international tax changes in countries like China, France, and the United States that could impact multinational companies.
This document provides an overview of federal tax incentives for green energy and sustainability for businesses. It lists several key questions to ask to determine eligibility for various energy tax credits and deductions. These include credits for investing in alternative energy property, purchasing electric vehicles, installing refueling property, and more. The incentives are aimed at various industries including energy producers, manufacturers, developers and utilities. The summary also notes the need to check state and local incentives which may provide additional benefits.
The document provides an overview of Australia's new Research and Development Tax Incentive program which took effect on July 1, 2011. It outlines that the program provides a 45% refundable tax offset for companies with under $20 million in turnover, and a 40% non-refundable tax offset for companies over $20 million. It describes eligibility requirements around core and supporting R&D activities, qualifying expenditures, oversight bodies, registration process, and integrity rules around issues like grants, feedstock, and transfers.
The document provides information about Brian Wages, a tax credits and incentives specialist. It summarizes Brian's background, areas of expertise in tax credits, and contact information. It then provides summaries of cost segregation, R&D tax credits, and green energy incentives. Cost segregation allows identifying property costs that can be depreciated faster. R&D tax credits require qualified research activities. Green energy incentives include section 179D deductions and solar investment tax credits. The document aims to educate manufacturers on available tax savings opportunities.
February 2012 - Michigan Energy Forum - Wendy BarrottAnnArborSPARK
February’s Michigan Energy Forum event, Financing Your Commercial Energy Project, will focus on highlighting an array of financial mechanisms that exist to help commercial building owners make their energy efficiency and/or renewable energy project a reality.
2012 Federal Budget - Scientific Research & Experimental Development (SR&ED) ...MNP LLP
Innovation has become critical in the manufacturing industry. Global competition, the need to do more with less, and labour issues mean that companies must develop new ideas and processes if they want to stay in the game. In Budget 2012 the Canadian government announced a number of changes to the way it fosters innovation that could help manufacturers deal with the challenges they face.
Pathway Lending is a non-profit economic development lender that provides loans for energy efficiency and renewable energy projects in Tennessee. It operates the Tennessee Energy Efficiency Loan Program in partnership with TVA and the state. The document discusses Pathway Lending's Energy Efficiency Loan Fund, which provides low-interest loans ranging from $20,000 to $5 million for commercial, industrial, and non-profit facilities to implement energy efficiency and renewable energy projects. It provides examples of funded projects and discusses application considerations like financial capacity, energy savings potential, and job impacts. Barriers to energy efficiency cited by surveyed companies include lack of funding and other priorities.
This document discusses the requirements for obtaining a Mortgage Insurance Premium (MIP) reduction through green building certification and energy performance on HUD multifamily properties. It states that to qualify for the MIP reduction, a property must have both green recognition through an approved certification and an ENERGY STAR score of 75 or higher based on benchmarked energy usage data. It provides details on qualifying green certifications, timing requirements, energy modeling and data collection methods, and issues for underwriters to consider at various stages of the HUD application process.
AmCorp Management is a cost segregation firm that identifies real estate components that can be reclassified as personal property for tax purposes, accelerating depreciation deductions. They have engineers and tax professionals who conduct cost segregation studies according to IRS guidelines. These studies typically reclassify 25-35% of real property costs, allowing faster depreciation and increased cash flow. AmCorp provides no-cost feasibility studies and ensures clients face no audit risk from proper cost segregation.
AmCorp Management, Inc. is a cost segregation firm that identifies real estate components that can be reclassified as personal property for tax purposes, accelerating depreciation deductions. They have engineers, tax professionals, and construction experts who conduct feasibility studies and cost segregation analyses to maximize clients' tax benefits. A typical analysis reclassifies 25-35% of a property, like portions of buildings, from real to personal property with 5, 7, or 15-year recovery periods instead of 27.5 or 39 years. This provides immediate tax savings through increased first-year deductions and lowers taxes owed over several years. AmCorp's process involves a free feasibility study followed by a full cost segregation analysis if benefits outwe
The ASHRAE Building Energy Labeling ProgramDon Doherty
William P. "Bill" Bahnfleth, Ph.D., P.E., Fellow ASHRAE, explains the society's (bEQ) rating system program for buildings in a presentation made at the Dec. 11, 2012 Illinois Chapter Awards Lunch.
Presentation by Julia Reinaud, the Policy and Programs Director of the Institute for Industrial Productivity, given during the Sharing Energy Efficiency Policy Experience for Key Energy-Consuming Enterprises Workshop in Beijing, February 20, 2012
More information about the workshop: http://www.iipnetwork.org/our-recent-activities#workshopbj
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While the design of the Top-10,000 program has been outlined, details for its implementation will be the subject of much discussion in the coming months. Key questions include: what type of technical support for enterprises is the most appropriate? How can the government play an effective role in monitoring and verifying the results? Is there a role for market-based mechanisms?
The document summarizes design considerations for renovating the historic Meier & Frank Delivery Depot building for a new tenant, Vestas. Key points discussed include:
- The design celebrates the contrast of the historic building fabric with a modern workplace environment.
- An atrium was proposed to address the challenge of no natural light penetration to the building core, providing light and improving collaboration between floors.
- Other challenges included the building being a full city block with no windows, and interior renovations requiring historic review.
- Additional topics covered include lighting approach, material efficiency, water efficiency, and improving the indoor environment. The general contractor discussed challenges around seismic upgrades, the historic status, and benefits of the
CT Self Storage Association Energy Summit presentationAdam Ramli
The document summarizes an energy summit for self storage owners and managers. It provides an agenda for the summit including discussions on:
1) The economic benefits of investing in energy efficiency from an investment and tax perspective.
2) Low interest financing options such as C-PACE financing.
3) A case study of an actual energy proposal and financial analysis for a Connecticut storage facility.
The summit also includes panelists to discuss topics like tax benefits, financing, audits, insurance requirements, utility assistance programs, and a solar case study.
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Benefit illustration application of §179 d of ep-act for an auto dealers......Cindy May Marketing
The document summarizes how a auto dealership that underwent energy efficient renovations four years prior was able to claim tax deductions under Section 179D of the Energy Policy Act. The renovations included installing an efficient HVAC system, smart skylights, building automation controls, and insulation. Based on an analysis of the project, the capital review group determined the renovations qualified for $1.80 per square foot in tax deductions under Section 179D, totaling $516,600. This could be claimed without amending past tax returns, improving the return on investment for the energy efficiency upgrades.
Economics of solar farms india dec 3 2015Vinod K Kala
Low prices for solar power seen in the Indian Market have a rationale. And potentially they can decline further for well designed, well financed, large scale solar capacities.
Basu Technology, Inc. is an MBE/SDBE firm with over 30 years of experience in facilities construction projects. They provide project management expertise to help owners make better decisions to save costs and time. Their services include project audits, BIM implementation, risk management, and setting up project controls. They aim to supplement owners' staff and help set up program management offices to streamline the project delivery process.
The document describes 10 popular utility incentive programs that provide funding for energy efficiency projects. The programs covered include those offered by utilities in California, Illinois, Maryland, New York, and New England that provide incentives such as rebates per kWh saved, funding for audits and retrofits, and payments covering a percentage of project costs. Qualifying projects include retro-commissioning, upgrades to industrial systems, and implementing measures identified in energy audits. The document recommends partnering with an expert to help navigate program requirements and identify the best opportunities.
Job Creation: Three Things Government Can DoElton Sherwin
A presentation by Elton Sherwin on building efficiency and job creation: Straightforward actions that cities, counties and states can implement. Prepared for the Governing Sustainability Summit, New York City – June 21, 2011. Elton is the Author of “Addicted to Energy.”
Navigant Consulting is a global consulting firm specialized in renewable energy technology and strategy. It has over 1,900 consultants across 40 offices in 4 countries. Its renewable energy practice has 50 consultants with over 25 years of experience, and provides services to financial investors, utilities, private corporations, and government agencies for solar and wind projects, including due diligence, corporate strategy, and policy support. Key risks for renewable energy projects in Ontario are low, though some technology and resource risks can be moderate. Project due diligence examines technical factors like permitting and interconnection plans, as well as financial factors like capital costs and tax considerations, to de-risk investments.
Specialized Tax Strategies - Using engineering, design and costing to seize t...Capital Review Group
Specialized tax strategies that may allow for substantial benefits for architects, engineers, material suppliers, and their clients. Using engineering, design and costing to seize tax savings through 179D, Cost Segregation, and Tangible Property. Without an engineering-based studies, taxpayers are unable to take full advantage of the tax law; therefore, they surrender significant cash flow to the IRS for commercial buildings.
Multifamily Energy Retrofit-Saving Money and Getting your Energy Company to p...Ryan Slack
Multifamily Energy Retrofit-Saving Money and Getting your Energy Company to pay for it
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Small Business Tax Considerations Under the Health Reform and HIRE ActsStambaugh Ness, PC
The document summarizes small business tax considerations related to the Federal Health Care Reform and HIRE Acts. It provides details on the small business health insurance tax credit available from 2010-2013 for employers with fewer than 25 FTEs offering qualifying health insurance. It also outlines the payroll tax exemption and retention credit available to employers under the HIRE Act for hiring and retaining qualified workers.
Brighten Your Future, with Tax Tips and Retirement PlanningStambaugh Ness, PC
The document provides an overview of various tax tips and retirement planning strategies. It discusses depreciation of assets, fringe benefits, meals and entertainment deductions, company car deductions and lease comparisons, tax credits, sales tax exemptions, homebuyer credits, energy credits, Section 529 college savings plans, education tax benefits, IRA contributions and distributions, Roth IRA conversions, SEP and SIMPLE retirement plans.
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- These are slides of the talk given at IEEE International Conference on Software Testing Verification and Validation Workshop, ICSTW 2022.
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5. Federal Incremental Research Credit Status
• Computation rules for the “regular” IRC 41 are unchanged from July 1, 1995
- Credit = 20% * (Excess of current R&D expense over fixed base amount) + expenses are not deducted. OR`
- Elect IRC 280C then credit = 13% * (Excess of current R&D expense over fixed base amount) and no reduction of
total expenditures.
• Method 2: Alternative Incremental Credit available June 30, 1996 - January 1,
2010
- Credit ranges from 3.25 - 5% of current year R&D IF R&D exceeds 1-2% of a fixed base
• Method 3: Alternative Simplified Credit available after December 31, 2006 –
January 1, 2010
- Credit = 12% * (Excess of current R&D expense over (Average 3 yr QRE * 50%))
- NOTE: Limited to 6% of any of prior 3 years has -0- QRE
- Credit = 7.8% under IRC 280C election>same treatment as stated above
• Senate is seeking to pass a permanent research credit provision in 2010?
6. R&D Incremental Tax Credit
Benefit
• Federal
• Up to possibly 9% of qualified research expenses
• $250,000 = the average credit of companies in professional, scientific, and technical services,
and in construction.
• States
• Most states have R&D tax credits.
• Pennsylvania does too. Discussed on next slide.
• Non U.S.
• More than 30 other countries provide credits and other incentives for R&D and
R&D-related activities.
7. R&D Incremental Tax Credit
Pennsylvania benefit:
• = up to10% of qualified research expenses for businesses with assets > $5M.
• = up to 20% for businesses with assets < $5M.
• $40 million of credits can be approved; credits are prorated for approved participants.
• Credits can be sold or assigned.
• Can be used against PA personal income tax, PA corporate net income tax or PA capital
stock/foreign franchise tax.
• Not available for expenditures incurred in a Keystone Opportunity Zone (KOZ).
• Credit must be applied for annually for next fiscal year
8. R&D Incremental Tax Credit: What meets the definition of
Qualified Research?
• “Qualified Research” – four-part test:
• Activities intended to develop or improve the functionality, performance,
reliability, or quality of a product, process, software, technique, invention, or
formula (“component”)
• Developed through a process of experimentation: evaluate alternatives, develop
and test hypothesis, refine or discard hypothesis, success or failure
• Discover information that fundamentally relies on the principles of engineering or
the physical, biological, or computer sciences
• To eliminate uncertainty regarding one’s capability or method for or improving the
component, or its appropriate design
9. R&D Incremental Tax Credit: Excluded Activities
Activities do not qualify to the extent they are:
• Conducted outside the US, Puerto Rico, or U.S. Possessions.
• Intended to develop software primarily for internal use-exceptions exist.
• Funded by an unrelated person or governmental entity:
• An activity is funded if and to the extent that you:
• Retain no substantial rights to the work; or
• Will be paid whether your work is successful or not.
10. R&D Incremental Tax Credit: Impact of Funded Exp
Not Funded Fully Funded 50% Funded
Spending 1,000,000 1,000,000 1,000,000
QREs 1,000,000 0 500,000
Credit potential * 190,000 0 95,000
* Estimated and assuming activities were conducted in Pennsylvania, not in a KOZ.
11. R&D Incremental Tax Credit: Eligible Expenses
“Qualified Research Expenses” include:
• Taxable wages for employees who perform or directly support or directly supervise
qualified research (excludes 401(k), employee benefits, and overhead costs)
• 65% - 100% of contractor expenses for qualified research
• Fee paid by taxpayer to consultants or engineering firms
• Taxpayer must bear economic risk (funding) and retain rights in research results
• Costs of supplies used in qualified research:
• “Supplies” means tangible property not of a character subject to the allowance for
depreciation
• Includes costs to fabricate prototypes
12. R&D Incremental Tax Credit: Qualified Exp cont’d
Examples for engineering and architecture include attempting to develop or
improve:
• Building elevations
• Functional site plans to incorporate or overcome the site plan features
• Lateral force resistance systems for buildings
• Marinas to meet unique structural and load requirements
• Brownfield redevelopment
• Bridges and roadway structures
• Water treatment plants to optimize plant capacity or efficiency
• Sanitary sewer systems for new residential communities
• Water pipeline and ancillary systems
• Energy-efficient features
• Wastewater technologies
13. R&D Incremental Tax Credit: IRS Exam Issues
IRS Tier I Issue: Will be examined; agent has no discretion
in field for audit resolution.
• Prototypes • Lack of documentation
• Self-constructed assets • Lack of time-tracking system to calculate
• Technical support QRE wages
• Control of experiments • Validation of fixed-base percentage QRE
• Routine data collection
14. R&D Incremental Tax Credit: Implementation items
to consider
• Recordkeeping/cost accumulation process
- Documentation is key
- Qualitative analysis
- Quantitative analysis
- Contract research analysis
- Calendar year taxpayers>timing of study completion vs tax due date
- Resource planning (tax, financial and operational)
- Statistical sampling
- Pre-filing agreement with credit firm
- Phases involved & cost per phase
- Documentation of credit
- Audit representation
16. Energy-Efficient Commercial Building Deduction -
Section 179D
Did the taxpayer design a Did the taxpayer build a
building for a government OR new facility or renovate an NO No Section 179D
entity? existing facility? benefit available
Y Y
E E N
S S O
Did the new facility or renovation include
If 50% reduction is NOT met, is energy
installation of interior lighting, HVAC or hot
NO reduced by 20% for lighting,
water systems, and building envelope that
20% for HVAC, or
reduces power use 50% or more? (compared
10% for building envelope?
to reference building)
Y Y
E E
S S
Was the project NO Have project certified
Y certified? Y
E E
Potential S S
$1.80 per square foot Potential
YES
deduction Was the property placed $0.60 per square foot
(whole building) in service before 2014? YES deduction
N (lighting, HVAC, or
O
envelope)
No Section 179D
benefit available
18. Renewable Electricity Production Credit - Section
45 (Production Tax Credit)
2.1¢/kWh for wind, geothermal,
closed-loop biomass; 1.1¢/kWh for
other eligible technologies*
Y Y
E E
S S
Did the utility company
produce and sell electricity from
renewable sources such as landfill gas, Did the taxpayer produce excess
wind, solar, hydroelectric, geothermal OR electricity from renewable sources and
or biomass that were placed in service sell it back to the grid?
before 12/31/2012? N
N O
O
No additional benefit
available
*Note that the duration of the credit is generally 10 years after the date the facility is placed in service, but there are two exceptions: open-
loop biomass, geothermal, small irrigation hydro, landfill gas and municipal solid waste combustion facilities placed into service after October
22, 2004, and before enactment of the Energy Policy Act of 2005, on August 8, 2005, are only eligible for the credit for a five-year
period. Open-loop biomass facilities placed in service before October 22, 2004 are eligible for a five-year period beginning January 1, 2005.
**An irrevocable election can be made to take the Section 48 Investment Tax Credit in lieu of the Section 45 Production Tax Credit.
***$2.4B in energy conservations bonds for facilities that qualify for the PTC (may be used to finance retrofitting of existing facilities).
19. Production Tax Credit Issues Summary
• Available for biomass, geothermal, hydropower, marine and hydrokinetic,
municipal solid waste, small irrigation, and wind
• 10-year credit period
• Requirement for 3rd party sales
• Reduction of credit for subsidized or tax-exempt financing
• Ownership requirement
• Structuring available to monetize the credit
• No basis reduction in the property
20. Business Energy Investment Tax Credit – Section 48
Did the taxpayer invest in
alternative energy NO
No additional benefit
property to generate power available
for its own use?
Y
E N
S O
NO NO
Was the property: Is the property: Is the property:
1.Qualified fuel cell? 1.Solar property used to 1.Equipment for producing or
2.Qualified small wind turbines? generate electricity, distributing geothermal energy?
3.Solar used to generate heating/cooling, or solar 2.Qualified micro-turbines
electricity for heating or cooling process heat? (small combustion)?
or to provide solar process heat? 2.Equipment that uses the 3.Combined heat and power
4.Geothermal heat pump? ground or ground water to systems?
heat or cool a structure?
Y Y
Y
E E
E
S S
S
Was the property placed in Was the property placed in
service before 2016? 10% credit
service before 2016? YES
Y
E
S
30% credit Note that the credit for geothermal property, with the exception of
(10% for solar after 2016) geothermal heat pumps, has no stated expiration date.
21. Qualifying Advanced Energy Project Investment
Credit - Section 48C
Did the utility company invest in a qualified No additional benefit
NO
advanced energy manufacturing project(s) that available
establishes, re-equips or expands a
Y manufacturing facility?
E In total, $2.3 billion worth of
NO
S credits may be allocated under
this program.
Did the project produce any of the following:
1.Equipment and/or technologies used to produce energy from the sun, wind, geothermal or “other” In determining which projects to
renewable resources; certify, the U.S. Treasury
2.Fuel cells, micro-turbines or energy-storage systems for use with electric or hybrid-electric motor Department must consider those
vehicles; which most likely will be
3.Equipment used to refine or blend renewable fuels; commercially viable, provide the
4.Equipment and/or technologies to produce energy-conservation technologies (including energy-conserving greatest domestic job creation,
lighting technologies and smart grid technologies)*; provide the greatest net reduction
5.Property designed to capture and sequester carbon dioxide emissions; or of air pollution and/or greenhouse
6.New qualified plug-in electric drive motor vehicles or qualified plug-in electric vehicles or Y gases, have great potential for
components. E technological innovation and
S commercial deployment, have the
lowest levelized cost of generated
Did the taxpayer apply and receive U.S. Treasury Department (or stored) energy or the lowest
certification for the project? levelized cost of reduction in
Y energy consumption or greenhouse
E gas emissions, and have the
S shortest project time.
30% credit (taxpayer may not combine
with business energy investment tax credit)
22. Payments for Specified Energy Property in Lieu of
Tax Credits - Section 1603
1. Specified energy properties are depreciable
properties that are, among others, part of
an electricity production facility using wind,
biomass, geothermal or solar energy, or
Did the taxpayer own a certain power plants using fuel cells or
micro-turbines.
specified energy No additional benefit a. Qualified property includes expansions
NO
property? available of an existing property that is qualified
property under §45 or §48 of the IRC.
Y
2. For property placed in service in 2009 or
E
N 2010 OR for properties that were not placed
S
O in service in 2009 or 2010, but for which
construction began in 2009 or 2010,
NO
Was the property applications must be submitted after the
property has been placed in service and
placed in service between If construction of the property before October 1, 2011.
1/1/2009 began between 1/1/2009 and 3. Eligible persons must be the owner or lessee
of the property and must have originally
and 12/31/2010? 12/31/2010, was the property placed the property in service.
4. treas.gov/recovery/docs/guidance.pdf for
placed in service after 2010 and more information regarding credit
Y
E before the credit termination termination dates and applicable payment
S date? percentages.
5. Independent account attestation for project
YES costs between $500k - $1mm is required in
Grant amount equal to 10% the form of agreed upon procedures; >$1mm
or 30% of the tax basis of require an audit report.
the eligible property,
depending on the type of
property