A new Senate bill proposes tax incentives for energy efficiency across many sectors. NRDC’s blog posted a summary of how the tax incentives will affect the commercial, industrial, and residential sectors. For the commercial sector, tax incentives will be proposed for high-efficiency building owners, and the incentive amount will be performance-based. Additionally, the bill hopes to promote performance-based tax incentives in the residential sector and encourages whole home retrofits. NRDC notes that the “performance-based structure ensures that we are getting the greatest energy savings per tax dollar spent while encouraging deep energy savings.”
The Energy Efficiency Tax Incentives Act, S. 2189, introduced late yesterday by three Democratic senators, would improve the efficiency of our homes, workplaces, and industry by reinstating and improving important efficiency tax incentives.
Energy efficiency – achieving the same or better service with less energy — is the cleanest, cheapest energy resource we have. It cuts our nation’s energy bills, while creating jobs throughout the economy and reducing emissions for years to come. Despite these significant benefits, people don’t always invest in more energy efficient technologies due to upfront costs, a disconnect between who buys the equipment and the person paying energy bills, and other barriers.