Eco-Incentives for Florida Office Buildings: Unlocking Green Profits

Eco-Incentives for Florida Office Buildings: Unlocking Green Profits

The green movement in Florida is guiding professional and medical office building owners toward sustainability. Understanding green incentives is vital considering increasing prices, escalating environmental concerns, and an overall preference for green buildings. This resource examines federal, state, Hillsborough County, and Tampa Electric incentives for green commercial real estate.


Federal Incentives: Energy Efficiency Gateway

Federal subsidies for commercial energy efficiency and renewable energy installations are leading the green revolution. The IRS Energy Efficient Commercial Buildings Deduction is notable. Building owners can claim a deduction for installing energy-efficient technologies to reduce yearly energy and power expenses by 25% or more compared to a reference building. The goal is to reward new or existing building owners who install qualifying technologies that significantly lower energy and power expenses than ASHRAE Standard 90.1.

Learn more about this tax deduction opportunity here and contact your accountant for more information.


Solar Energy and PACE Programs in Florida

In addition to federal programs, commercial solar energy adoption incentives in Florida live up to their name. Florida’s Property Assessed Clean Energy (PACE) Program is unique in financing energy efficiency, renewable energy, and wind resistance improvements through property tax assessments for residential and commercial properties. This novel strategy improves building sustainability and supports Florida’s environmental goals.

Find out more about their areas of service and requirements here.


Hillsborough County and Tampa Electric: Local Greening Initiatives

Hillsborough County, with a thriving community and busy business operations, offers a number of sustainability resources. Although programs and incentives vary, the county’s official energy efficiency page offers a good overview of the programs and a great starting point for your initiative.

Learn more about the county’s options and incentives here.

Tampa Electric offers a broad variety of business energy efficiency and renewable energy programs. The company’s dedication to sustainability is demonstrated across their ample spectrum of rebates and incentives for lighting, HVAC, and solar upgrades.

Learn more about their energy efficiency programs here.


Making a Sustainable Path: Office Building Owner Tips

The green reward maze needs a clear strategy to navigate. Here are some actionable recommendations for Florida office building owners:

  • Stay informed: Regularly check IRS, DOE, and local government websites for green incentive updates. Keep up with changing policies and initiatives to maximize benefits.
  • Assess your needs: Assess your property’s energy use and make improvements. Understanding your needs is the first step to sustainability, whether you want solar panels or energy-efficient lights.
  • Consult an expert: Energy specialists and sustainability professionals can advise you on the most cost-effective and effective property modifications. All the sites I mention in this article have links to certified experts.
  • Weigh your financing options: Use financing options like PACE to cover upfront costs of green upgrades. With little initial expenditure, these programs can lead to sustainability.


Conclusion: Sustainable Commercial Real Estate in Florida

Sustainability is a societal and strategic investment. Now is the moment to act. Florida’s green future will depend on the commercial real estate sector. Property owners can positively contribute to a solution while lowering their property’s energy costs and increasing its income by taking advantage of the programs described in this article. Your actions today will create a greener, more sustainable future for the environment, commercial real estate, and your bottom line.


About the Author
John Milsaps, a Senior Advisor at SVN Commercial Advisory Group, specializes in landlord and seller representation in Tampa's professional office and healthcare real estate sectors. His expertise in commercial office space makes him a trusted advocate for clients seeking strategic real estate solutions.