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Business Tax Incentives

Commercial Buildings

What is the tax incentive for commercial buildings?

A tax deduction of up to $1.80 per square foot is available to owners or tenants (or designers, in the case of government-owned buildings) of new or existing commercial buildings that are constructed or reconstructed to save at least 50% of the heating, cooling, ventilation, water heating, and interior lighting energy cost of a building that meets ASHRAE Standard 90.1-2001. Only buildings covered by the scope of ASHRAE Standard 90.1-2001 are eligible. Partial deductions of $.60 per square foot can be taken for improvements to one of three building systems that reduce total heating, cooling, ventilation, water heating and interior lighting energy use by a certain percentage below ASHRAE 90.1-2001—the building envelope (10%), lighting (20%), or heating and cooling system (20%). An interim system-specific goal for lighting is provided directly in the legislation and is valid until the IRS issues a final regulation. The interim lighting provision allows prororated deductions from 30 cents to 60 cents per square foot for lighting systems as described below. These deductions are available for buildings or systems placed in service from January 1, 2006, through December 31, 2013.

Published in TAX Incentives
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Fluorescent lighting mandate is official

The U.S. Department of Energy’s fluorescent lighting mandate is official.

As of July 1, 2010 magnetic ballasts most commonly used for the operation of T12 lamps are no longer be produced for commercial and industrial applications. Also, many other T12 lamps will be phased out of production starting July 2012.  

What should consumers be prepared for?

  1. Manufacturers will be phasing out their production of T12 lamps and ballasts  
  2. Progressively less availability of T12 lamps and ballasts  
  3. Increased cost of T12 lamps and ballasts due to demand vs. limited supply   
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Green Tip Of The Day

Those spiral fluorescent light bulbs are distinctive looking from your traditional bulb, they also happen to be substantially more efficient. You may not like the glow they project but consider this; if every home in the U.S. replaced just one traditional bulb with an efficiency bulb it would be equivalent to removing a million cars from the road. Just be sure to READ and follow the WARNING and DISPOSAL message on the box.

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US Business and Energy

  • PSE&G faces legal barrier in reporting bill history
    Patti Sapone/The Star Ledger Forget to pay your utility bill and the worst thing you used to have to worry about was having your lights turned off. Now you might have to worry about losing points on your credit score,...
  • N.J. businesses no longer face fee for not shopping for electricity
    Steve Hockstein/Bloomberg State regulators eliminated a fee that penalized hundreds of businesses in New Jersey for failing to shop around for lower electricity costs. The charge, which was created after the state deregulated its utilities almost a decade ago to...
  • Solar panels invented in N.J. 55 years ago
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  • Ocean Power Technology gets $2.75M grant from US Navy
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    Smart meters have become popular around the country, with utilities from Texas to California installing them on homes and businesses as a way to help cut energy consumption and better manage peak electricity demand. But if you live in New Jersey, don’t expect to get a smart meter of your own any time soon.

White House Press Office

  • Statement by the G-8 on Global Oil Markets

    “There have been increasing disruptions in the supply of oil to the global market over the past several months, which pose a substantial risk to global economic growth.  In response, major producers have increased their output while drawing prudently on excess capacity.  Looking ahead to the likelihood of further disruptions in oil sales and the expected increased demand over the coming months, we are monitoring the situation closely and stand ready to call upon the...

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    Our imperative is to promote growth and jobs. 

    The global economic recovery shows signs of promise, but significant headwinds persist.

    Against this background, we commit to take all necessary steps to strengthen and reinvigorate our economies and combat financial stresses, recognizing that the right measures are not the same for each of us.

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  • Remarks by the President Before Working Session with G8 Leaders

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    THE PRESIDENT:  All right, everybody, listen up.  First of all, I want to welcome all the leaders here.  The press, you're welcome as long as you don't break anything.  (Laughter.) 

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  • Presidential Proclamation -- Armed Forces Day, 2012

    BY THE PRESIDENT OF THE UNITED STATES OF AMERICA
    A PROCLAMATION

    With every assignment and in every theater, America's men and women in uniform perform their duties with the utmost dignity, honor, and professionalism. Through their dauntless courage and dedication, they live up to our Nation's highest ideals in even the most perilous circumstances. On Armed Forces Day, we pay tribute to the unparalleled service of our Armed Forces and recall the extraordinary feats they accomplish...

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