45L Energy Tax Credit Studies

“Going Green” has become an increasingly hot topic within the last few years. While many people realize the importance of taking steps to minimizing impact on the environment, what they don’t realize is that doing so can potentially save them thousands, even hundreds of thousands of dollars in tax credits. Many government programs exist to provide incentives to home and business owners who meet certain environmental standards. One such program is the 45L Energy Tax Credit.

What is the 45L?

The 45L Tax Credit is also known as an Energy-Efficient Home Credit. It provides up to $2,000 per dwelling unit for those homes and investment properties which meet government standards of “green” construction. These standards typically revolve around energy consumption which can be significantly lessened through appropriate insulation methods and the use of energy efficient water heaters, air conditioners, etc. In fact, most dwelling units constructed within the last 5 years often exceed the national standards for energy efficiency and are therefore candidates to receive 45L tax credits.

Who Qualifies?

The 45L Tax Credit typically applies to single-family homes, multi-family residences, apartment complexes, condominiums, and even student housing and retirement homes. Any commercial property in which people reside can potentially qualify for the 45L.

Tax Credits

The 45L can potentially provide a staggering amount of benefits in the form of tax credits. Multiple-dwelling buildings such as apartments are particularly poised to reap massive benefits as each eligible unit earns $2,000 in tax credits. There is no limit to how many eligible dwelling units can qualify for 45L tax credits, assuming that they all meet the minimum standards of energy efficiency.

How to Claim 45L Tax Credits

In order to qualify for 45L tax credits, a building must be inspected and approved by a certified independent, third-party firm. ELB Consulting is a leading expert in the industry and has years of experience in saving our customers millions of dollars. Contact us today to schedule a complimentary feasibility analysis.