179D Extended! 2017 Projects Now Eligible
February 12, 2018
The bipartisan budget deal that passed on Friday, February 9, 2018 includes welcome news for building owners who have invested in energy efficiency as well as the architects and construction firms who’ve delivered their energy-efficiency projects.
The Bipartisan Budget Act of 2018 has retroactively extended the 179D tax deduction for commercial energy-efficient property to cover the 2017 tax year.
Concord LP served as the co-chair of the Coalition for Energy-Efficient Jobs and Investment Steering Committee, lobbying Congress to extend the 179D deduction. We would like to thank all the fellow members of the coalition who aided in the lobbying effort as well as the Congressmen and Senators who prioritized and passed this common-sense energy-efficiency policy.
Why was the extension so important? In short, jobs and the environment.
A detailed study of the 179D deduction found an extension would create more than 40,000 American jobs per year and spur more than $4 billion of economic growth, in addition to boosting energy efficiency nationwide.
If you have any 2017 projects that qualify for the tax deduction, now is the time to capture your deduction.
Want to know if you have a project that qualifies for the deduction? Browse through this brief overview of the 179D tax deduction.
Want to see what your deduction could be worth? See our project benefit calculator.
Concord LP is a specialized 179D consultant, with deep expertise serving architects, engineers, contractors and consultants. For more information on how your firm can monetize this valuable incentive please contact us at 888-897-5445, or by emailing us at the following link.