Urbanland
Summary
In September, ULI hosted subject matter experts on the potential impacts of the Inflation Reduction Act on the commercial real estate industry. Panelists discussed the tax incentives, deductions and credits geared to encourage building owners to deploy clean energy and energy efficiency projects and how various sectors and industries plan to participate in this opportunity.
Listen to the webinar in ULI’s Knowledge Finder.
Out of the eighteen tax credits, there are four that Duane Desiderio, senior vice president and counsel, Real Estate Roundtable, believes speak to the commercial real estate sector.
The first incentive goes beyond ASHRAE 90.1 code for energy-efficient buildings by changing the 179D tax deduction. Now, the deduction has been updated “to encourage existing building retrofit projects and also encourages new buildings to be more energy efficient,” said Desiderio.
Desiderio broke down the remaining incentives. The Real Estate Roundtable has also published policy toolkits and fact sheets discussing the incentives.
“The second incentive that we will be getting into is the section 48 investment tax credit…. It is geared to encourage deployment of clean energy and renewable energy projects at facilities, which would include buildings. What we are talking about here are things like solar panels, combined heat and power. IRA adds to the list of investment tax credit technologies, energy storage, and dynamic glass.”
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