Caulking your building can save you money outright. It increases your building's energy efficiency, helps prevent leaks and improves air quality for your tenants. But aside from significantly slashing your heating or cooling bills, this process can also lead to government rebates.
If you've been considering caulking your building, but are hesitant because of the price tag, consider some of these rebates, discounts and tax credits that can apply to businesses in the Northeast.
Federal tax credits
Talk to your accountants to see if there are any federal tax credits for which you are eligible. From 2006 through 2013, there were tax deductions for commercial buildings that improved their energy efficiency and building envelope. In 2015, there are only residential tax deductions from Energy Star, but new programs develop over time, so it's always good to keep an eye out for one.
Most rebates and tax programs are given to businesses through the state where the building is located. These benefits can vary based on the state, so check out which commercial caulking discounts, rebates and credits for which your company may be eligible.
The state of New Jersey is committed to helping its businesses and local governments reduce their energy use. One way, is by helping cover the costs of building improvements.
The Local Government Energy Audit helps local governments, municipal buildings and universities improve the energy effectiveness of their building, like with caulking, while receiving up to 100 percent of the cost subsidized.
New Jersey's Pay for Performance program gives businesses incentives if they can reduce the energy that the entire building uses by 15 percent in one year. Another part of New Jersey's Clean Energy Program, is Direct Install, which can help cover up to 70 percent of the cost of various energy saving changes, like caulking, lighting replacement or a new heating, ventilation and air conditioning system for small to medium-sized commercial and industrial companies.
"Caulking your building or structure can save you money outright."
The Keystone State has its fair share of rebates and incentives as well. The U.S. Department of Energy has a list of the various programs that businesses and residences are eligible for based on their location, utility company and specific energy saving actions. Many are offered through utility companies, like Philadelphia Gas Works, a municipally owned energy provider.
There are rebates for simple energy saving moves, like caulking the building, as well as more involved retrofitting that reduces overall gas consumption. There are also a number of significant rebates and incentives for new construction as well. The state also provides loan programs for the cost of these energy and money saving improvements.
Maryland offers utility-sponsored rebates, like those in Pennsylvania, to many commercial and industrial properties for energy-related improvements and repairs. For example, the Baltimore Gas and Electric Company Commercial Energy Efficiency Program offers rebates for specific energy saving changes. Other utilities in the state have similar programs.
The state also provides grants that reward businesses that make energy smart moves, such as caulking their building and installing energy solar panels.
The Old Dominion State has a number of incentives, rebates and tax credits that buildings can qualify for if they make energy-saving changes. Programs such as Custom$ave Energy Efficiency Rebates for Businesses from Danville Utilities and others from Dominion Virginia Power and Columbia Gas reward building owners for improving their envelope, making additions to their heating or cooling systems, and insulating better. You can read more about these programs' specifics to see how your building could qualify.
"The nation's capital has federal tax deductions from the Internal Revenue Service for energy efficiency."
The commonwealth also has tax credits and incentive payments for window film installation, duct upgrades and renewable energy usage.
Buildings in Washington, D.C. don't benefit from the state-sponsored rebates and tax breaks that are found in other cities, but the nation's capital has federal tax deductions from the Internal Revenue Service for energy efficiency.
The Energy-Efficient Commercial Buildings Tax Deduction provides a deduction between $0.30 and $1.80 per square foot in the building depending on the changes made. This program is designed to reward businesses that improve the building's envelope as well as energy usage related to lighting, heating and cooling.