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Congress Considers Increasing Incentives for Commercial and Multifamily Building Energy Efficiency Retrofits

Commercial buildings consume 36 percent of all U.S. electricity each year and costs $190 billion. The EPA estimates that 30 percent of this energy used is wasted. An existing federal tax deduction—Section 179D of the tax code—provides building owners with a tax incentive to help offset the costs associated with increasing the energy efficiency of commercial buildings but is set to expire in 2013, is insufficient to incentivize retrofits, and cannot be utilized by a wide range of taxpayers. Various stakeholders, including the Real Estate Roundtable and US Green Building Council, have developed legislation to address the weaknesses of the current law. A bipartisan group of Senators introduced the “Commercial Building Modernization Act” or CBMA to make Section 179D more effective:

www.natlawreview.com - Congress Considers Increasing Incentives for Commercial and Multifamily Building Energy