Green Energy Tax Incentives

Green tax incentives offer significant tax benefits, all while implementing socially responsible business practices.  Federal, state and local governments offer a wide variety of energy tax incentives to help provide increased cash flow, reduce tax liability and help to off-set the cost of energy efficient improvements.  Corporations that understand and take advantage of the many eco tax incentives and green tax credits available, stand to benefit tax-wise while going green, reducing energy consumption and engaging in other sustainable business activities.

Hancock Askew’s Green Energy Tax Services practice provides a full complement of energy-related tax and consulting services. Our team is comprised of experienced tax professionals, and licensed engineering and architectural consultants with extensive experience in areas of State and Local Taxes, Cost Segregation and R&D Tax Credits.

Hancock Askew’s Green Energy Tax Services offerings include:

  • Identify available federal, state and local energy tax credit incentives
  • Negotiate and secure these incentives
  • Advise on and forecast activities that stand to benefit from tax incentives
  • Obtain the necessary technical and engineering certifications
  • Obtain LEED ® certification
  • Identify and support R&D tax credits for federal and state investments

Qualifications to receive Green Energy Tax Credits:

Most businesses that make investments in the following activities stand to benefit from federal, state and local energy tax credit incentives:

  • Constructing new facilities or improving existing facilities using energy efficient technologies
  • Obtaining LEED ® certification for new or existing buildings
  • Producing renewable energy
  • Manufacturing equipment and products that are used to produce renewable energy
  • Conducting research and development or improving processes that relate to energy efficiency, environmental improvements and pollution control
  • Cleaning up environmentally-challenged properties

Federal Energy Tax Credit Incentives

  • R&D tax credits attempt to develop or improve energy-related products or processes
  • Production tax credit for energy produced from renewable resources (e.g., solar, fuel cell, geothermal, wind, biomass)
  • Energy investment tax credit for qualified energy property (e.g., solar, fuel cell, small wind energy property, geothermal, microturbine)
  • Treasury Department energy grants for renewable energy producers and for manufacturers of products used to produce renewable energy
  • Accelerated depreciation for alternative energy and biomass property
  • IRC Sec. 179D deduction for owners of energy-efficient commercial buildings
  • IRC Sec. 179D deduction allocated to designers of energy-efficient governmental facilities and public school buildings

State and Local Energy Tax Credit Incentives

  • State and local tax credits and grants related to renewable energy production
  • Tax credits for energy-efficient commercial buildings
  • Rebates from local utilities and development authorities for energy-efficient improvements
  • R&D tax credits for attempts to develop or improve energy-related products or processes
  • Brownfield credits

Buildings which typically Qualify

Taxpayers who are or will be constructing or improving the following types of buildings may benefit from Hancock Askew’s Green Energy Tax Services:

  • Manufacturing and distribution facilities
  • Alternative energy-generating facilities
  • Ethanol plants
  • Commercial office buildings
  • Healthcare facilities
  • Retail stores and supermarkets
  • Hotels and restaurants
  • Other