Thursday, November 29, 2012

Energy Act 2.0

Can you believe that 20% of energy consumption in the US is used by commercial buildings? To date, our Senators are working to pass a 'more efficient' Energy Policy Act (Public Law 109-58) that would extend and strengthen our commercial tax deductions. More simply, these proactive thinkers and healthy debates evolve around the recognition and need for making improvements to energy infrastructure.

So what is fair game? Lighting, windows, HVAC, building materials. YES - all of the above.

The dilemma is what percentage, and at what square footage? Currently, the bill states up to $1.80 in tax deductions per square footage for retrofits and new construction. The new bill is between $1.00 to $4.00 pending performance upgrades and improvements.

The bottom line is this is great news for manufacturers and good news for Americans trying to get back to work. The USGBC and NRDC estimates an additional 77,000 construction and services jobs will be created if the energy act is revised. Every little bit counts.

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