Federal Tax Benefit Qualification

The Energy Policy Act of 2005 set a precedent by containing a market changing incentive in the form of a tax deduction for owner's  investments in their commercial building's energy efficiency. The deduction is equal to energy-efficiency commercial building property expenditures made by the taxpayer, subject to a cap. The deduction is limited to an amount equal to $1.80 per square foot of the property for which such expenditures are made, in the year which the property is placed in service. For tax purposes, "placed in services" generally means the time at which the property is ready for intended use.

Certain certification requirements must be met in order to qualify for the deduction, and restrictions on the per square foot deduction include that the efficiency upgrades be part of the interior lighting systems, heating, cooling, ventilation, hot water systems or the building envelope itself.

Bluestone has qualified many projects for tax benefits available through the Energy Policy Act of 2005. At the completion of our projects we provide a tax benefit certification package that is stamped by a professional engineer. Our tax benefit documentation has been reviewed and accepted by PricewaterhouseCoopers.