Energy-Related Tax Consulting Services

calendar iconMay 16, 2022
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Cherry Bekaert’s Energy Tax Services practice provides a full complement of energy-related tax and consulting services. Let our team of experienced tax professionals and licensed engineering and architectural consultants assess your eligibility and ensure that you’re not leaving any money on the table.

If your business makes investments in the following activities, then your company may 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
  • Cleaning up environmentally challenged properties
  • Conducting research and development or improving processes that relate to energy efficiency, environmental improvements and pollution control

Value-Added Solutions

By combining engineering and architectural expertise with practical tax and accounting knowledge, the Cherry Bekaert Energy Tax Services team delivers proven results. We can help you:

  • Identify available Federal, state and local energy tax credit incentives
  • Negotiate and secure these incentives
  • Consider 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
  • Assist with compliance and credits for alternative fuels and excise taxes

Federal Energy Tax Credit Incentives

There are many ways to reduce your Federal tax liability through energy efficient investments, including:

  • R&D tax credits for efforts to develop or improve energy-related products or processes
  • 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
  • Production tax credit for energy produced from renewable resources (e.g., solar, fuel cell, geothermal, wind, biomass)
  • Accelerated depreciation for alternative energy and biomass properties
  • 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
  • IRC Sec. 45L credits for building energy-efficient residences
  • Non-Business energy tax credits for HVAC, doors, windows and other residential property improvements

State and Local Energy Tax Credit Incentives

  • Credit incentives
  • State and local tax credits and grants related to renewable energy production
  • Tax credits for energy-efficient commercial buildings
  • Brownfield credits
  • 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

Talk to your Cherry Bekaert tax advisor today and see what incentives may still be available to you. With proper planning, you can ensure to see the green in your green building.