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Discover how we can help you take advantage of the CARES Act incentive

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What facilities qualify for the full deduction?

Qualified improvement properties (QIPs) are properties that have recently been upgraded, including:

  • Hospitals and healthcare facilities
  • Office buildings
  • Factories and plants
  • Logistics facilities

What facility upgrades can benefit from the accelerated deduction?

Non-structural upgrades (including both equipment and installation costs) to the interior envelope of existing facilities, including:

  • Building management systems
  • Sensors, valves, actuators, and other HVAC devices
  • Uninterruptible power supplies, switchgear, and other electrical distribution equipment

What isn’t included in QIPs?

  • New construction
  • Upgrades to the facility’s structure (e.g., expansions, remodeling, etc.)
  • External envelope of the building (e.g., windows, doors, roof, cladding)
  • Residential structures
  • Certain equipment (e.g., elevators)

Example cash savings of a QIP project cost

Example cash savings of a QIP project cost

A fictional hospital invests $1,000,000 in a digital building management system upgrade, including new smart devices (e.g., sensors, room controllers, valves, actuators). The chart shows the tax benefits before and after the changes the CARES Act made to Section 168 of the tax code. The benefit of the accelerated depreciation results in a cash savings of $204,615 in year one.

Note: This example is fictional, not a guarantee of actual savings, and is not intended to be tax or legal advice. Tax calculations are complex; consult your tax advisor for more specific guidance.

Major financial ROI implications

Modernization and energy efficiency upgrades typically pay for themselves in a few years. Our own analysis of our customers’ projects found that digitization projects led to returns on investment (ROI) of 5.3 years, on average.1 The amended Section 168 unlocks a 21 percent cash savings on top of the typical cost savings from facility improvements, which can lead to dramatically faster ROIs.

Global Digital Transformation Benefits Report Schneider Electric, 2019.

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