Mining the Gold in Green Buildings

Mining the Gold in Green Buildings

A leading tax services provider urges building owners, architects and facilities managers to consider greening existing commercial buildings and new commercial structures to take advantage of the tax incentives for eco-friendly construction and improvements.

“High energy costs, an unprecedented level of government mandates for green building, heightened demand for green construction, and improvements and better pricing for environmentally sustainable materials have many building owners, architects, and facility managers considering significant updates to save cash,” said SourceCorp Professional Services, a Fort Worth firm that provides specialized tax services.

In particular, the firm points to Section 179D of the IRS Code as providing “significant deduction” opportunities for making commercial properties energy efficient.

Deductions under the provision could help offset an estimated 3 percent to 7 percent cost difference in building green, according to the firm.

The company also noted that are some 4.5 million commercial properties in the U.S. and that 14 percent of the U.S. cities with populations of 50,000 or greater have green standards for new commercial construction.