sustainability in the hospitality industry
DESCRIPTION
Presented to AGRION Network. "State of the Green Hotel Movement"TRANSCRIPT
M. Sco' Parisi, CHA EcoGreenHotel-‐President Hospitality professional with over twenty years experience with major hotel chains, such as InterconDnental, Starwood, Hilton and Choice Hotels. General Manager of the United States first L.E.E.D. cerDfied and "Environmentally Friendly" Hotel; the Sheraton Ri'enhouse. EcoGreenHotel is a hospitality soluDons company dedicated to “SupporDng Hospitality Sustainability” We do this through training, educaDon, energy and sustainability soluDons and an online purchasing channel. www.EcoGreenHotel.com www.EcoGreenHotelStore.com
Travel & Tourism forecast to pass $2 trillion GDP in 2012 Travel & Tourism is set for a milestone year as the industry’s direct contribution to the global economy is expected to pass $2 trillion in GDP and 100 million jobs. According to research by the World Travel & Tourism Council (WTTC), the global Travel & Tourism industry will grow by 2.8% in 2012, marginally faster than the global rate of economic growth, predicted to be 2.5%. This rate of growth means that Travel & Tourism industry is expected to directly contribute $2 trillion to the global economy and sustain some 100.3 million jobs. When the wider economic impacts of the industry are taken into account, Travel & Tourism is forecast to contribute some $6.5 trillion to the global economy and generate 260 million jobs – or 1 in 12 of all jobs on the planet.
David Scowsill WTTC President & CEO
2011 closes stronger than expected for business travel with total business travel spending up 8.3% for third quarter 2011. 2012 will continue to see more measured growth as economic headwinds persist. GBTA forecasts that business travel spend will increase by 4.6% in 2012.
The CMI Green Traveler Study 2010-11
The Green Traveler Study asked over 950 “eco-conscious” travelers • How do they travel, and how much? • What does “sustainable” or “green” travel mean to them? • How environmentally conscious are their purchasing decisions when not traveling? • What drives their interest in green travel options and destinations? • Will they pay a premium for sustainable choices? • Is there a gap between their intentions and their behavior? • What do they expect from green travel brands? • How do they view green branding and messaging? • What gives them trust — or makes them skeptical? • How deep is their commitment to green travel, and how far will they take it?
The CMI Green Traveler Study 2010-11
Key Finding #1: Eco-Travelers Become Greener Travelers were more eco-conscious, shopping locally, recycling more at home and at work, buying recycled products, and avoiding unnecessary purchases. More active steps towards a sustainable lifestyle increased — composting, going vegetarian, bicycling or taking public transportation to work. Overall behavior and spending was 5-17% more environmentally friendly than 2009 respondents. 5% more respondents acted on their environmental concerns while traveling. 85% turned off the lights when they left the room 75% say they had recycled and used their towels and sheets more than once 7.5% increase in “researched and booked greener accommodations” 4% more offset the impact of their travel 5% whose environmental concerns impacted their discretionary travel style 8% increase would most likely go on a greener vacation within the next year.
The CMI Green Traveler Study 2010-11
Key Finding #2: Low Tolerance for High Premiums – The Green Price Point 62% of respondents said that they did not pay extra to stay at a “greener hotel” . And 87.3% of travelers paid between 0 and 5%, which represents more than a 13% increase over 2009. Is green getting cheaper? Are green practices something customers don’t know they’re paying for? Are economic conditions keeping travelers from acting on their green intentions? Green is still not something customers will actually pay extra for today; they won’t pay a “green tax.” One thing is certain — price remains a central concern among travelers. Price was ranked as the #1 criterion for choosing a hotel by more travelers than any other factor, including the hotel’s environmental programs.
The CMI Green Traveler Study 2010-11
Key Finding #2: Low Tolerance for High Premiums – The Green Price Point Insight: Make green concrete. For most people, environmental sustainability is still a relatively abstract concept — especially when compared to practical issues like price and convenience. LEED certification, carbon offsets and sustainable materials do not have the visceral appeal of an ocean view or an Olympic-sized pool. Flipping those product attributes into consumer benefits drive sales and justifying price premiums. Instead of talking about LEED certification mention pure air, natural, non-toxic carpeting and healthy, organic linens are creature comforts that could compel customers to pay a premium for sustainability. That said, numerous case studies across all tourism and hospitality segments show enormous cost-saving benefits to green initiatives, and CMIGreen identified operations as the place to find the ROI in green, not extra charges to consumers.
• 72% of electricity consumpDon • 60% of total non-‐industrial waste •40% of primary energy use •39% of CO2 emissions •13.6% of potable water consumpDon
According to the US Green Building Council buildings in the US account for:
In the US alone, hotels represent more than 5 billion square feet of space, nearly 5 million guest rooms, and close to $4 billion in annual energy use.
Business mee?ngs in the US cons?tute a $175billion industry, and Americans make more than 400 million long-‐distance business trips a year.
In general a green hotel will: • Minimize local environmental impact through the use of new technologies to use less energy, water and resources than tradiDonally operated counterparts. • Provide direct financial benefits for the building owners and operators (lower operaDonal costs) •Build environmental and cultural awareness (educate consumers) •Provide posiDve experiences for both guests and hosts. •Have improved indoor air quality
What is the Standard Defini<on a ‘Green’ or ‘Sustainable’ Hotel?
The hotel will be operated under the sustainability principals of: People, Profit, Planet
• Use 26% Less Energy • Emit 33% Carbon Dioxide •Use 30% Less Indoor Water •Send 50%-‐75% Less Solid Waste to Landfills and Incinerators •Green Buildings can also encourage the use of alternaDve transportaDon (walking, mass transit, low-‐emission, fuel-‐efficient or alternaDve fuel vehicles)
According to the US Green Building Council a ‘Green’ or ‘Sustainable’ Hotel will:
The hotel will be operated under the sustainability principals of: People, Profit, Planet
What is the Standard Defini<on a ‘Green’ or ‘Sustainable’ Hotel?
Currently, there is NO universally accepted Green Hotel Standard
Third Party EcoLabel Cer<fica<ons
According to a Responsible Purchasing Trends report, the three most recognizable eco-‐labels are:
Recognized U<lized ENERGYSTAR 100% 94% LEED 91% 70% GREENSEAL 90% 66%
1) EnergyStar Benchmark
2) EnergyStar Labeled Building
GS-‐33
• Bronze
• Silver
• Gold
Scored between 1-‐100. 50 is average. 75 or above is required to receive label.
Must meet minimum standards for waste reducDon, energy efficiency, water use reducDons, green cleaning, hazardous substances etc.
LEED NC, EB O&M, CI
• Cer<fied
• Silver
• Gold
• Pla<num
Most stringent of the three standards. Requires earning points for site selecDon, indoor air quality, waste reducDon, energy efficiency, water use reducDons, and purchasing
What Cer<fica<on is right for my hotel? EcoRooms® & EcoSuites™: (www.ecorooms.com) Certified properties must meet eight strict eco-criteria for membership and certification. The criteria includes: use of Green Seal certified cleaning and paper products, towel and linen reuse program, recyclable waste program, energy efficient lighting, high efficiency plumbing, and 100% smoke-free properties.Rating: Must meet all eight program requirements Recognized/Chosen by: American Hotel and Lodging Association (AH&LA) and the American Automobile Association (AAA). EPA’s Energy Star label: (www.energystar.gov) The Environmental Protection Agency’s Energy Star program enables buildings to qualify through meeting strict energy performance standards. Energy Star labeled properties use less energy, have reduced operating expenses, and reduced greenhouse gas emissions. To be certified, the property must attain a minimum score of 75, the top 25%, based on EPA’s National Energy Performance Rating System. As of November 2010, there are 426 Energy Star labeled U.S. hotels. Rating: Must obtain a score of 75 or higher.
What Cer<fica<on is right for my hotel? Green Globe Certification: (www.greenglobecertification.com) This is a certification label for sustainability in both management and operations. Certification criteria cover several areas, including sustainable management and social economic, cultural heritage, and environmental aspects of sustainability. The program’s criteria are also updated annually to ensure international compliance. Rating: Must achieve threshold of at least 35% of the total 1,000 points Green Key®: (www.greenkeyglobal.com) The Eco-Rating program is specifically designed for hotel operations to rank, certify and inspect green initiatives. Based upon a comprehensive environmental self-assessment, hotels are ranked and provided with guidance on how to “unlock” opportunities. The program assesses the five main operational areas of a property and covers nine sustainable practices. An on-site inspection may be conducted to confirm green hotel rating. Rating: One to Five Green Keys Recognized/Chosen by: Carlson Hotels, Hyatt Hotels, Motel 6,MGM Resorts International, Sofitel, Fairmont Hotels & Resorts and Accor in the U.S/North America region.
What Cer<fica<on is right for my hotel? Green Seal certification: (www.greenseal.org) This tiered certification is presented to those lodging properties that achieve various levels of compliance with GS-33, Green Seal Environmental Leadership Standard for Lodging Properties. Properties must demonstrate science-based evaluation of sustainable practices in following areas: waste minimization, energy efficiency, conservation and management, management of fresh water resources, wastewater management, hazardous substances, and environmentally conscious purchasing. Rating: Bronze, Silver or Gold Levels Recognized/Chosen by: The city of Los Angeles through its Green Business Initiative, as well as Chicago through its Green Hotels Initiative. USGBC LEED® certification: (www.usbgc.org/leed) The Leadership in Energy and Environmental Design (LEED) Green Building Rating System™ is the nationally accepted benchmark for the design, construction, and operation of high performance green buildings. Promotes a whole-building approach to sustainability by recognizing performance in five key areas: sustainable site development, water savings, energy efficiency, materials selection, and indoor environmental quality. Rating: Certified, Silver, Gold, or Platinum Level
5 © 2009 Greener World Media, Inc. (www.greenerworldmedia.com). May be reproduced for noncommercial purposes only, provided credit is given to Greener World Media, Inc., and includes this copyright notice.
185
21,173
49,167
264
3,959
7,359
70
2,197
4,361
37
3,508
7,707
Cumulative LEED NC Certified SF Cumulative LEED CS Certified SF Cumulative LEED CI Certified SF Cumulative LEED EB Certified SF
2009 2020 2030
Floor Area Forecast(millions of square feet)
This year we are expanding our coverage of market trends in LEED, hence the renaming of the report as “Green Building Market & Impact Report.”
Overall, LEED market performance greatly exceeded our expectation of a flattening and maybe even a decline. Total registered and certified floor area in 2009 is estimated to grow by over 40% compared to last year’s totals for a cumulative total of over 7 billion square feet worldwide since LEED was launched in 2000.
This growth is perplexing for a couple of reasons. First, dramatic declines in 2009 U.S. new non-residential construction starts—by some estimates almost 40% below the peak of 2007—means that new non-residential construction might dip below the one billion square foot mark, yet registrations of LEED new construction projects in the U.S. are expected to exceed 1 billion square feet! [This includes LEED New Construction (NC), Core & Shell (CS), Commercial Interiors (CI), LEED Schools and LEED Retail, but not LEED for Existing Buildings(EB).]
What is going on?
We think a couple things might be operating here. The unexpected growth
LEED Market Trends
The current economic
situation coupled with increased
stringency in the LEED requirements
will contribute to an expected
slowdown.
LEED new construction projects in the U.S. expected to exceed one billion square feet! [This includes LEED New Construction (NC), Core & Shell (CS), Commercial Interiors (CI), LEED Schools and LEED Retail, but not LEED for Existing Buildings(EB).]
1 © 2009 Greener World Media, Inc. (www.greenerworldmedia.com). May be reproduced for noncommercial purposes only, provided credit is given to Greener World Media, Inc., and includes this copyright notice.
by ROB WATSON
.comExecutive Editor
REPORT2009
GREEN BUILDING
IMPACT MARKET
AN
D
Greener World Media
What are Hotel Companies Doing to Create Green Programs? • Fairmont Hotels & Resorts – One of the first hotel companies to incorporate sustainability into their organizaDon, Fairmont’s Environmental Policy outlines their commitments to protecDng the natural world.
• Starwood Hotels and Resorts in addiDon to a brand wide Environmental Sustainable Policy all Element Hotels are to pursue the U.S. Green Building Council's (USGBC) LEED CerDficaDon
• Marrio' – Has over 275 Energy Star Labeled Hotels and LEED CerDfied prototypes. Spirit to Preserve is Marrio'’ s Social Responsibility and Community Engagement program
• Hilton has launched LightStay and a Environmental Policy are available on Hilton’s Sustainability web page.
• IHG – LisDng eight steps it will take to improve its relaDonship with the earth, IHG’s Environmental Policy is clear and aggressive including a branded Program Green Engage
What are Hotel Companies Doing to Create Green Mee<ngs?
• Starwood Hotels & Resorts has introduced green meeDng guidelines at its North American properDes and plans to roll out the pracDces globally next year.
• Fairmount Hotels-‐Eco-‐Meet program helps meeDng planners by providing a meeDng structure that encourages maximum waste diversion and environmental awareness for conference delegates.
• Kimpton Hotels-‐EarthCare program donates a porDon of the proceeds to the Trust for Public Land.
• Rosen Green MeeDngs® are events which are conducted in specific ways which help reduce the environmental burdens imposed by such acDviDes.
Partners in Energy Conscious InnovaDon brining you the greenest hotels on the planet
Case Study #1 – Swimming Pool Energy and Water Reduc<on
Install $350
Annual Cost $700
Energy Savings 10% to 30% reducDon in swimming pool heaDng costs
HeatSaver: a bio-‐degradable non-‐toxic liquid that reduces evaporaDon in outdoor swimming pools by approximately 30%
§ AutomaDc Dmer adds 4oz of product for every 1500 square feet of pool § Liquid rises to top and creates hydrophilic barrier invisible to guests
Hotel Valencia in San Jose, CA is saving $12 per day, up to $4,380 annually
Case Study #2 – Swimming Pool Chemical Use Reduc<on Salt Water Conversion -‐ 12 Hotel Poroolio
Kana Hotel Group converted 12 swimming pools from tradiDonal Chlorine systems. The $18,000 investment in salt water conversion equipment had a simple payback of less than nine months. They were able to reduce chemical consumpDon from $150 of chlorine per month to $6 per month in salt. 12 hotels X $1,500 = $18,000 conversion and install cost
$150 monthly Chlorine x 12 months x 12 hotels = $21,600
$6 monthly Salt x 12 months x 12 hotels = $864
Annual Savings (Year 2 and beyond)-‐ $20,736
Case Study #3 – Wireless Energy Management Guest Room Controls
There are a wide number of manufacturers and installers to provide wireless controls for guest rooms to efficiently manage building energy. The wireless controls interface with the hotel sosware to give management direct control of PTAC energy use.
Direct Controls allow hotel operators to reduce energy use in un-‐occupied guest rooms through sosware interface.
Typical claims of energy savings for a 100 room hotel is approximately 20-‐30% of total energy used for guest rooms
Case Study #3 – Wireless Energy Management Guest Room Controls
Evolve, an affiliated company of MCP and the Mason Family of Companies, installed an energy management system in a full service hotel, in Washington, DC in April of 2010. At the heart of the occupancy-‐based energy management system is a wireless keycard system, ouoi'ed to control HVAC operaDon, lighDng and television energy usage in a hotel guest room. A third party firm monitored the results of the installaDon and a report was generated. The findings showed a successful energy savings factor. During the months when air condiDoning and cooling were needed there was a 13.2 % savings. In the months requiring the heaDng system running the savings showed 5.9%. In the shoulder months where neither heaDng nor cooling were the prevalent factor there was sDll a 6.8% savings.
Case Study #4 – Guest & Back of the House Recycling
Reducing commercially viable waste from your stream is the key to savings. Holiday Inn – San Antonio Airport
400 room full service hotel began recycling program 2007 as a pilot program.
Program started with an 8 yard recycling dumpster and 40 yard trash dumpster. 2008 began single stream for back of house and guest room. Now, they recycle 83 tons using a 40yd recycle bin and an 8yd trash bin.
The 40yard trash dumpster = $250 per haul to landfill vs. $75 per haul for recycling.
Savings = over $10,000 per year
Public Areas, Meeting Rooms and Back of House LightingElectric Rate
0.09 Per KWh
ECM Ref #
Location Qty Baseline Technology Upgrade TechnologyCost Per Item
Labor Total CostSavings Logic
Projected Savings/Yr
Savings Per Room/Yr
Daily Savings Per Room
Payback in Yrs
Fix A
1st Floor Lobby, entrance, Fire Place
Seating, and Breakfast Area, Kitchen 69
Recessed 6" Downlight Burning One (1) 65W Incandescent (24 Hour Burn)
Relamp with a LEDNovation LED-‐PAR30L-‐75-‐1WD-‐IF (12 W)
$60.00 $0.00 $4,140 Reduced
KW $3,090 $27.59 $0.076 1.34
Fix B Banquet Pre Function 23
Recessed 6" Downlight Burning One (1) 65W Incandescent (12 Hour Burn)
Relamp with a LEDNovation LED-‐PAR30L-‐75-‐1WD-‐IF (12 W)
$60.00 $0.00 $1,380 Reduced
KW $550 $4.91 $0.013 2.51
Fix C
Meeting Rooms Three Sections at 14 Fixtures
Each 42
Recessed 6" Downlight Burning One (1) 65W Incandescent (10 Hour Burn)
Relamp with a LEDNovation LED-‐PAR30L-‐75-‐1WD-‐IF (12 W)
$60.00 $0.00 $2,520 Reduced
KW $857 $7.65 $0.021 2.94
Fix DPendent Lights over Breakfast Tables 14
Seven Pendent Fixtures buring two (2) 40 W Incandescents.
Relamp with A Type LEDNovation LED-‐A19-‐40-‐1D-‐I (3.4 W)
$46.00 $0.00 $644 Reduced
KW $446 $3.98 $0.011 1.44
Fix E Lobby 24
Lobby Chandelier burning 24 candelabra 25W incandescent bullbs
Relamp with a LEDtronics candelabra DEC02-‐B10E12F-‐XIW-‐120AW (2.4 W) $38.00 $0.00 $912
Reduced KW $501 $4.47 $0.012 1.82
Fix F Bar 5
Bar Pendents burining one (1) 25 W candelabra bulb
Relamp with A Type LEDNovation LED-‐A19-‐40-‐1D-‐I (3.4 W)
$46.00 $0.00 $230 Reduced
KW $72 $0.64 $0.002 3.20 EcoGreenHotel Proposed $9,826.00 $5,515.78 $49.25 $0.13 1.8Total of Possible Upgrades
Case Study #6 – On-‐Demand Boiler Management Systems
Reducing energy demand for domesDc hot water through the use of on-‐demand controls. Patented technology developed and tested over the last 2 years for hotels, mulD-‐family housing, schools and other large scale applicaDons.
The savings from reduced water hea?ng 30% or greater annually
Typical ROI for Boiler Energy Cost Management System is 18 months or less
Case Study #7 – Ozone Laundry
Ozone is the single most powerful oxidant available for commercial water treatment. O3 is an acDvated form of oxygen is 150% stronger and 3,000 Dmes faster reacDng in aqueous soluDon than chlorine. A highly effecDve biocide, fungicide, and deodorizer, ozone almost instantly disinfects water on contact.
Water hea?ng cost reduc?ons of 80% to 90%. Wash temperatures can be lowered from 140/180F to 90/105F
Chemical cost reduc?ons of 20-‐25%
Case Study #7 – Ozone Laundry Utility Start End Usage* Cost Occ %
Average # of Occupied
Rooms
Usage** Attributed to Laundry
Usage* Per Occupied Room
Savings Per Occupied Room*
% Savings Per
Occupied Room
Utility*** Rate Avoided Cost
Gas 06/27/09 07/28/09 1,403 1,643.52$ 67.1% 51.7 543 10.5006/26/10 07/28/10 1,097 1,232.00$ 85.9% 66.1 424 6.41 -‐4.09 -‐38.9% 1.1230$ (303.59)$
07/29/09 08/27/09 1,042 1,225.36$ 58.7% 45.2 403 8.9107/29/10 08/27/10 924 1,047.12$ 71.9% 55.4 357 6.45 -‐2.46 -‐27.6% 1.1230$ (153.00)$
Water 06/27/09 07/28/09 298 840.04$ 67.1% 51.7 89 1.7306/26/10 07/28/10 238 806.59$ 85.9% 66.1 71 1.08 -‐0.65 -‐37.6% 3.3890$ (145.89)$
07/29/09 08/27/09 258 757.81$ 58.7% 45.2 77 1.7107/29/10 08/27/10 189 691.50$ 71.9% 55.4 57 1.02 -‐0.69 -‐40.2% 3.6587$ (139.42)$
Sewer 06/27/09 07/28/09 298 1,935.43$ 67.1% 51.7 89 1.7306/26/10 07/28/10 238 1,594.03$ 85.9% 66.1 71 1.08 -‐0.65 -‐37.6% 6.6976$ (288.32)$
07/29/09 08/27/09 258 1,707.83$ 58.7% 45.2 77 1.7107/29/10 08/27/10 189 1,315.22$ 71.9% 55.4 57 1.02 -‐0.69 -‐40.2% 6.9588$ (265.17)$
* Gas is Measured in Therms. Water & Sewer are Measured in CCF (100 Cubic Feet) Estimated Savings on Chemicals (2 Months) = (345.57)$
** 68.9% Gas is Used to Heat Domestic Hot Water, 11.11% for Dryers (excludes space heating). Total Avoided Cost During Study Period = (1,640.95)$ 40% of water is Kitchen & Laundry, adjusted to 30% for laundry only (minimal kitchen).Percentages based on data from a study of Hotels conducted for NationalGrid, 2004. Estimated Avoided Cost Per Month = (820.47)$
*** Gas is bil led using incremental rates; lower marginal rates for this analysis. Estimated Avoided Cost Per Year = (9,845.70)$
Ozone System & Installation Provided Courtesy of US Energy Solutions. Payback based on $16,500 Cost of System (Years) = 1.68$
82
65
75
Score 1-‐ 100
EPA's Energy Performance Scale
Minimum Score to Qualify for EPA's Energy Star Current Buidling's Score
0
50
100
150
200
Best in Region Average in Region
COST BY ECM SAVINGS BY ECM (Annual)
ENERGY CONSERVATION MEASURES TOTAL COST TOTAL COST
Boiler Management System 10,945$ Boiler Management System 6,427$ Commercial Refrigeration Efficiency 2,702$ Commercial Refrigeration Efficiency 2,145$ EMS Common -‐$ EMS Common -‐$ EMS Guest Rooms 84,898$ EMS Guest Rooms 44,946$ Kitchen Sink Pedal Valves 1,432$ Kitchen Sink Pedal Valves 421$ Lighting (Lobby, BOH, Pool) 3,726$ Lighting (Lobby, BOH, Pool) 5,252$ Noveda EnergyFlow Monitor 12,475$ Noveda EnergyFlow Monitor 3,249$ OCC Sensors (Guets Rm, BOH, and Public) 2,102$ OCC Sensors (Guest Rooms, BOH, and Public) 1,412$ Ozone Laundry Solution 24,090$ Ozone Laundry Solution 14,382$ Pool Solutions -‐ Aqua Rite 3,485$ Pool Solutions -‐ Aqua Rite 1,463$ Pool Solutions -‐ Heatsavr 2,157$ Pool Solutions -‐ Heatsavr 1,245$ Window Conservation 27,345$ Window Conservation 9,173$
TOTAL COST 175,357$ 90,115$
TOTAL COST PER ROOM 772$ TOTAL ENERGY SAVINGS % 51.39%
12 MONTH ENERGY SPEND (Including Water) 668,303$
% OF ANNUAL SAVINGS 13.48%PROPOSED ENERGY SPEND (Including Water) 578,188$
FIVE YEAR CASH FLOWYEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 TOTAL
Project Financing @ 5% (42,768)$ (42,768)$ (42,768)$ (42,768)$ (42,768)$ (213,840)$ Energy Savings * 90,115$ 94,621$ 99,352$ 104,319$ 109,535$ 497,942$ Maintenance Savings 1,685$ 1,348$ 1,078$ 863$ 690$ 5,664$ EPACT 30% Tax Rate at @.80 per sq.ft. 38,871$ 38,871$ Progress Energy Rebate Program 14,231$ 14,231$ Progress Energy Demand Reduction 9,000$ 9,000$ Progress Energy Generator Response Program 3,200$ 3,200$ Professional Engineering and Tax Services (14,325)$ (14,325)$ Project Management Fees (14,029)$ (14,029)$ Annual Cash to Property 85,980$ 53,201$ 57,662$ 62,414$ 67,458$ 326,715$ Cumulative Cash Flow 85,980$ 139,181$ 196,843$ 259,257$ 326,715$ 326,715$
ENERGY CONSERVATION MEASURES
TOTAL ENERGY SAVINGS
Energy Efficiency Tax Advantages Building Cost Audit – There are tax advantages that most investors find too confusing or simply too time consuming to take advantage of. By engaging a specialized accounting firm with engineering expertise you can qualify for significant tax deductions.
EPACT05 Energy Tax Deduction (requires independent certification of the energy efficiency measures). Cost Segregation – Properly determine depreciable life of building components, maximizing current deductions. Abandonment – Certain long term assets may be written off due to renovation of the building, maximizing current deductions.
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