Last year’s Inflation Reduction Act is a significant piece of US legislation that makes various changes to the IRS tax code (USC26) relating to energy. Specifically, the changes encourage the transition to renewable energy and clean electricity, and therefore a reduction in carbon emissions complementing the Consolidated Appropriations Act of 2021 which will invest $360 billion in energy security and climate change.
The Inflation Reduction Act encourages businesses to lower their energy consumption and switch to greener technologies by:
The owners of all types of commercial buildings may be able to take advantage of these opportunities with tax deductions available through improvements to one or any combination of the following: a) interior lighting systems, b) heating, cooling, ventilation, and hot water systems c) building’s envelope.
NexRev is already helping businesses across North America save more than five billion kWh of energy and reduce their energy costs by over $1 billion and saving over two billion kg of CO2 emissions. Our customers include significant household names in retail, restaurants, finance, travel and leisure, federal and municipal Government buildings, schools, and universities.
Home Depot, Lowes, Floor & Décor, Bed Bath & Beyond, Ross, Burlington, At Home, Academy Sports, and Bank of America as well as movie theaters across America, including Cinemark, Regal, AMC, and CMX, are all working with NexRev to reduce their energy use.
You can read more about our progress in this earlier blog: NexRev hits significant milestones: 20% of Fortune 100 companies are customers; 1 million+ devices installed.
To help you secure these benefits, we can help you by taking care of the paperwork – saving you still more.
NexRev has managed over $30M+ in rebates and tax credits for our customers. In most situations, the rebate dollars are used to offset the costs of deploying our products and services.
We can take care of the paperwork and the risk while you get an upfront discount, which smooths your cash flow.
We can also help organizations by providing a formal certification service to verify that their buildings are eligible for the 179D deduction so that you can benefit from the rebates and credits available.
If you would like to learn how we can help you benefit from the support available for your business, then please email us:
601 Development Drive
Plano, TX 75074
+1 (972) 578-0505
+1 (866) 601-5520