Facility Manager Cost Saving/Best Practice Quick Reads RSS Feed
July 10, 2017 -
Energy Efficiency ✉ Email The Editor
On May 4, 2017, Sen. Ron Wyden and 21 other senators introduced a bill in the Senate which containing a proposed extension of EPAct Section 179D until 2019 and beyond, along with provisions outlining new technology-neutral tax incentives for clean energy and extension of the orphan non-solar renewable energy credits. If this bill is passed, the extension of 179D would include an increased deduction of up to $4.75/sq.ft. for new construction and building retrofits. This would include a slight reworking where a building would now achieve a minimum of $1.00/sq.ft. for achieving a 25 percent reduction against the ASHRAE 90.1-2016 standard, and would furthermore earn an additional $0.25/sq.ft. for every additional 5 percent over that. This legislation would also include a new provision entitled 179F, where more comprehensive building retrofits could achieve up to $9.25/sq.ft. for beating energy saving targets.
While we would suspect that a passage of this bill and extension of 179D would only likely occur later in the year, this introduced bill highlights the interest in 179D and will hopefully be grounds for inclusion in tax reform plans developed by the new Congress.
This Quick Read was submitted by Charles Goulding, president of Energy Tax Savers, Inc. Click here to read more about EPAct Section 179 on Facilitiesnet.com.