Incentives for Lighting System Upgrades
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The National Energy Policy Act (aka EPACT) of 2005 provides the most significant incentive for lighting upgrades. Some call it the “commercial building tax deduction.” The act allows for energy efficient building upgrades, which include energy efficient lighting.
The total amount of the deduction is limited to$1.80 per square foot of the portion of the property the work was performed. The total of the deduction that you can qualify for depends on the scope and the cost of the retrofit. The other factor to consider is the level of reduction achieved. The minimum reduction of 20% is a key to qualifying for this incentive.
Although this program is designed primarily for building owners, managers of rented or leased facilites who make comparable upgrades are also eligible.
The program has been extended and is schedule to end January 1, 2014. Typically, the cost saved in utility usage alone is enough to warrant a payback in two to three years with utility rebates. The combined utility rebate along with the commercial building tax deduction make “going green” a no brainer. The added benefit to upgrading your lighting is that you can also redesign your layout to be more efficient and with the new lighting technology, your maintenance should be reduced as well.
For more information, or to schedule your building lighting audit, please call All Reach Property Lighting at 720-233-8800.
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