Retrofit.LA and The LA Better Buildings Challenge is working with the LA Department of Water and Power to align federal and state incentives with local rebate program requirements.
The Inflation Reduction Act of 2022 (IRA) is the most significant climate legislation in U.S. history. But what does this mean to building owners? As one White House expert recently put it, “decarbonization is going on sale.”
Two-thirds of IRA funding will take the form of tax credits, which are being enhanced to benefit more organizations, including nonprofits and even local governments. In addition, the EPAct 179D tax deduction has been made permanent, and its value has more than doubled from $1.80 per square foot to $5.
Federal tax law experts Gabrielle Jacques of Norton Rose Fulbright and energy efficiency expert Rich Maiolo of Capital Review Group discuss the implications of the IRA for building owners, including:
The information provided here does not constitute professional tax advice or other professional financial guidance. It should not be used as the only source of information when making decisions regarding design, purchasing, investments or tax implications of energy or other building upgrades, or when executing other binding agreements.
This page will be updated periodically, as guidance on the implications of the Inflation Reduction Act is ongoing. In the event that there is conflict between information provided on this webpage and guidance or notices published by the IRS, information published by the IRS will always take precedence.
Last updated Aug. 4, 2023
“The avoidance of taxes is the only intellectual pursuit that still carries any reward.”
