Building Owners will Reduce Energy, Save Money with 5% Tax Credit
The Province has announced a new tax credit that will make energy retrofits for multi-unit residential and commercial buildings more affordable, saving owners 5% on retrofits to help reduce their energy use.
“Building owners want to reduce the energy use of their home, office or retail space but the upfront costs of these retrofits can be a challenge for people,” said Selina Robinson, Minister of Finance. “This Clean Building Tax Credit will help owners of larger, often older and energy-inefficient buildings invest in cleaner energy retrofits by putting dollars back into their pockets.”
Buildings eligible for the Clean Buildings Tax Credit include residential buildings, commercial spaces and warehouses in the private sector. Examples include office spaces, food retail and purpose-built rentals. The credit supports work involving building systems, such as heating, ventilation, air conditioning and building envelopes.
To be eligible for the credit, building owners must work with a certified professional to determine that the energy use-intensity of their building has been reduced and is meeting made-in-B.C. targets through a qualifying retrofit before applying for certification with the Ministry of Finance. Qualified professionals include architects, a qualified energy adviser certified by Natural Resource Canada, and engineers.
Find out how building owners can get the Clean Buildings Tax Credit:
https://www2.gov.bc.ca/gov/content/taxes/income-taxes/corporate/credits/clean-buildings
Read the full news release: BC Gov News
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