what is energy efficient building property
The new law provides for an accelerated tax deduction that is the lesser of the cost of installing âenergy efficient commercial propertyâ or $1.80 per square foot. As defined in the law, energy efficient commercial property is property: With respect to which depreciation (or amortization in lieu of depreciation) is allowable, Which is installed on or in any building which is located in the United States, and within the scope of ASHRAE Standard 90.1-2001,