EPAct 179D Tax Deduction Signed! December 23 2019, 0 Comments

On December 19th, the Senate passed the bill that extends EPAct 179D retroactively back to January 1, 2018 and forward through December 31, 2020. The President signed it on the 20th.

EPAct 179D allows commercial building property owners to accelerate depreciation on the cost of qualified energy efficiency measures on their income taxes. In addition, the extension keeps the 2007 ASHRAE standard for this tax deduction on commercial energy efficiency projects, including heat pumps.

Geothermal stakeholders may want to start gathering project data for all energy efficiency projects completed since January 1st, 2018.

Thanks to Charles Goulding of Energy Tax Savers for this tip.