|The IRS is making it easier to be "green": Financial Incentives for energy efficient buildings are plentiful.
|New City NY - It’s Tax time and why not let the government give you money for a change. Did you know the federal and state governments have financial incentives for energy-related improvements to your real estate.
NYSERDA has dozens of incentives to help you be more environmentally friendly. Visit NYSERDA’s website for details of the programs available.
The IRS is also willing to give you some green to be green. As part of the Energy Policy Act of 2005, energy related improvements to your buildings can qualify for valuable Tax Credits. Credits range from $.60 per square foot to $1.80 per square foot. Not just a deduction, this tax credit can help offset the cost of new lighting, a new heating project or a new roof on your building. Municipalities and School Districts may still benefit by transferring the credit to the "others" to help offset the cost of construction. Contact us for more information.
The NY Mercantile Exchange was recently awarded with the first LEED-EB certification in New York State. This certification is available for any existing building that wants to be more energy conscious and environmentally friendly. Using many incentives, the certification cost only $185,000 for a500,000 square foot building. Amazingly these out of pocket expenses for NYMEX will be paid back with the first year of energy savings.