Nevada is just the second state, following Washington, to pass a law requiring all building construction with state money to meet certain green standards. Other states have simply suggested it would be a good thing for developers to consider.
The move is receiving high praise from the USGBC’s national president Rick Fedrizzi. He says the direction Nevada is taking when it comes to environmentally conscious construction will set an example for others to follow.
With tax incentives that allow for the abatement of up to 50 percent of property taxes for a period of up 10 years on buildings that meet the LEED’s silver standard, it's sure to catch the attention of developers.
Fedrizzi points out two planned projects for Las Vegas as examples. The first, spearheaded by Janie Greenspun, is for a green animal shelter. The second is MGM Mirage's massive 66-acre Project CityCenter. Its developers plan to use energy-saving techniques in its construction.
Not only do green buildings provide tax relief, but business owners can expect a fatter wallet as well. Fedrizzi says buildings outfitted to meet LEED standards can save anywhere from 30 to 70 percent in energy costs and cut water bills in half. One example Kirk mentions is the use of waterless urinals, which can save 40,000 gallons of water per unit each year.
Expect owners of older buildings to take advantage of the law as well, explains state Sen. Randolph Townsend, R-Reno, who along with Assemblywoman Chris Giunchigliani, D-Las Vegas, was instrumental in getting the bill passed. Townsend called AB3 one of — if not — the "strongest bill on renewable energy, conservation and green building standards" to ever be passed in the nation.
In 2001, Townsend helped get a law passed requiring utilities to increase their use of renewable sources including wind, solar and geothermal. Despite the regulations, many of the major projects inked with utilities to build renewable power plants, such as wind farms, have stalled because low bond ratings posed a bankruptcy risk.
But Townsend believes AB 3 will attract new companies to the state and quickly turn things around when it comes to the use of renewable energy.
