Maintaining your commercial property is a major investment, but it’s one that’s critical to the success of your business. But did you also know that there are grants and tax incentives available that can help offset the cost of your next roofing project?
At Ideal Roofing and Construction, we not only provide expert commercial roofing services, we also want to help you make informed decisions about your investment. That’s why we’ve put together this guide to the roofing incentives available in 2024 for Indiana businesses.
Cool Roofs: A Smart Investment
Cool roofs are designed to reflect more sunlight and absorb less heat than traditional roofing materials. This can significantly reduce your building’s cooling costs and help to mitigate the urban heat island effect.
State and Federal Incentives for Cool Roofs
Several state and federal programs offer incentives for installing cool roofs:
- Database of State Incentives for Renewables & Efficiency (DSIRE): This comprehensive database provides information on state-specific incentives for energy efficiency and renewable energy projects, including cool roofs. Be sure to check for Indiana-specific programs- we spotted more than five that might apply to your business’s roof!
- Federal Tax Deductions: Under the Energy Policy Act of 2005, commercial buildings may be eligible for tax deductions for energy-efficient improvements, including cool roofs.
Energy Efficiency: Lowering Your Costs and Your Carbon Footprint
Energy-efficient roofing materials and systems can help to reduce your building’s energy consumption, leading to significant cost savings over time. There are a variety of roofing incentives available for energy-efficient projects:
- Indiana Office of Energy Development: The OED provides information on energy efficiency and renewable energy programs for Indiana businesses.
- Rural Energy for America Program (REAP): This USDA program provides grants and loan guarantees to rural businesses for renewable energy systems and energy efficiency improvements.
Other Tax Incentives for Commercial Roofing
In addition to the specific roofing incentives mentioned above, there are other tax benefits that may apply to your commercial roofing project:
- Modified Accelerated Cost Recovery System (MACRS): This allows you to recover the cost of your roofing investment through depreciation deductions over time.
- Section 179 Deduction: This deduction allows you to deduct the full cost of qualifying property (including certain roofing improvements) in the year it is placed in service.
Ideal Roofing and Construction: Your Partner in Roofing Solutions
At Ideal Roofing and Construction, we’re committed to helping Indiana businesses make the most of their roofing investments. Our team of experts can guide you through the process of choosing the right roofing system for your needs, but be sure to consult with a certified tax specialist for additional details and to verify deductions!
By taking advantage of these grants and tax incentives, you can upgrade your commercial roof, save money, and reduce your environmental impact.
Let Ideal Roofing and Construction be your trusted partner in your journey to a more sustainable and cost-effective commercial building.