On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (IRA), which includes billions of dollars in investments to reduce carbon emissions and produce renewable energy. The IRA, most notably for the residential real estate development and homebuilding industries, extends and expands the Section 45L Tax Credit for Energy Efficient Homes. Section…
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Project financing gaps are one of the most significant deterrents to implementing green building and energy-efficiency measures. The New Jersey Economic Development Authority (NJEDA) developed tax credit programs that encourage developers to pursue green building certifications or increase energy efficiency. The recently created Aspire and Emerge programs help developers finance projects with green building certifications…
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Confronting New Jersey’s greenhouse gas emissions, largely due to the transportation sector, has become a point of interest for Governor Phil Murphy’s administration in recent years. Electric vehicles (EVs) have concurrently become increasingly popular amongst the general public. However, “range anxiety” and a lack of public charging stations is detrimental to the growth of the…
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New Jersey is breaking new ground on aggressive programs for electric vehicle (EV) use, establishing NJ as a leader in EV policy. Since over 40% of NJ’s greenhouse gas emissions are due to the transportation sector, programs to encourage the purchase of EVs and the creation of charging stations have become prevalent in New Jersey….
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Amidst many economic stimulus measures in the recently enacted Consolidated Appropriations Act, 2021, are the following: Section 45L Tax Credit for Energy Efficient Homebuilders extended until the end of 2021 Section 179D Tax Deduction for Energy Efficient Buildings made permanent Section 45L This tax credit is for developers of new single-family homes, townhomes, and apartments…
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