While you’ve no doubt heard mention over the past few months of the Inflation Reduction Act (IRA), it may have evaded your sphere of concern as something only relevant to those focused on battling economic inflation or combating climate change. You may want to take a second look, though, as the bill has major considerations for the commercial real estate (CRE) industry. The direct financial benefits of the IRA are considerable and will go a long way toward incentivizing those in the CRE industry to incorporate renewable energy and energy efficiency systems into their business models. In addition, there are a variety of indirect and/or operational benefits of the IRA to anyone whose business model requires attracting and keeping tenants.
If you are a commercial or multifamily property owner, property manager, developer, or investor in CRE, this GlobeSt.com article will be of particular interest to you. It reviews the tax credits and deductions available to you via building energy efficiences as well as via renewable energy generators such as solar, energy storage systems, and electric vehicle (EV) chargers.
