Demystifying Energy Tax Incentives

Over this past year, I’ve shared some thoughts about my career journey and what I want to do next as I endeavor to make a difference.? ?

This has led me to the path I’m on today which started when I read Bill Gates's book, How to Avoid a Climate Disaster.? I learned that Buildings are a huge contributor to greenhouse gas emissions, accounting for 37% globally–and about 30% of energy in buildings is wasted.

This reality has put me on a quest to help drive awareness and educate building owners about the substantial economic benefits stemming from building sustainability and energy efficiency upgrades.??

So, how can I attempt to address the misconceptions in this space? It occurred to me that a different conversation needs to happen so that building owners can view energy efficiency through a different lens by reframing perceived challenges into opportunities for sustainable growth.???

And this is why I launched the Reframe podcast. ?

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The Journey to Understanding

In our inaugural episode of Reframe, you’ll meet Abby Massey, PE, PMP, LEED AP , a structural and civil engineer turned tax incentives specialist. Initially skeptical, she now guides businesses through the variety of energy tax incentives crucial for financial stability and growth, especially for small and medium-sized enterprises that think they don’t qualify. This episode sheds light on the untapped potential and economic value of these incentives that building owners can harness.??

?Here’s an overview of the key insights that Abby shared:?

• Overcoming the 'Too Good to Be True' Perception: Many building owners are unaware or just skeptical about the benefits available through energy incentives. These incentives, such as the 179D tax deduction , have been around for years, yet many remain underutilized.?
• Increased Value Through the Inflation Reduction Act: The Inflation Reduction Act has enhanced many incentives, including increasing the 179D maximum deduction from $1.80 to potentially over $5 per square foot. This Act also introduced the ability to transfer and sell credits, offering financial flexibility to businesses unable to directly utilize them.?
• Strategizing for Continual Benefit: With updated rules, building owners can now re-qualify for certain tax benefits every four years, encouraging continuous improvements rather than a one-time overhaul. This opens up strategic opportunities for planning and investment.??

Future Outlook?

Reframe attempts to highlight the need for greater awareness and action. With cities and states like Washington’s Clean Building Performance Standard rapidly moving toward expanding energy policy and usage regulations mandating energy efficiency, now is the time to capitalize on these opportunities. In addition to introducing our listeners to the innovators who are driving the needed change, Reframe hopes to offer some extra motivation to be more proactive, highlighting the importance of energy awareness, education, and the vital role of strategic planning to maximize these incentives.?

Listen and Connect??

Dive into the world of energy tax incentives and join us in our mission to explore the challenges and rewards for sustainability in the built environment!?

Stay tuned for more episodes dedicated to building a sustainable future and discover new strategies to save money and boost sustainability with guest experts across the construction, engineering, design, and accounting space who shed light on the untapped potential and economic benefits of energy tax incentives that building owners can harness.???

Questions or feedback for the Reframe team can be directed to [email protected] .