Green Rebates in the Stimulus Bill
Submitted by Matthew Miller, LEED AP
The Obama administration’s goal is to greatly amplify the implementation of green technologies and building methods in an effort to create jobs, and reduce our dependence on foreign oil and our impact on the environment. The Stimulus Bill offers new enticing options in this area to the Industrial sector.
Here are the highlights:
» Each state will receive an average of $100 million for energy efficiency upgrades, the uses for that money to be determined by each state.
» All commercial and private buildings are eligible for a 10% grant in lieu of tax credit for the total cost of installing certain green systems.
»Renewable energy facilities can claim a 30% investment tax credit as opposed to the production tax credit payable over a 10-year period.
These are HUGE incentives in addition to the numerous State and Federal programs already in effect. There is now a good chance that there are improvements that can be made to your industrial facilities that may have a significant impact on your bottom line. In addition to the Stimulus Bill, President Obama has stated that “the U.S. Will enter a cap and trade system to limit Global Warming.” This market-based solution is a start towards establishing a clear, consistent, long-term policy framework to combat environmental impact, and could be right around the corner.
With the U.S. Government shoveling so much coal into the “green” freight train, it may be in our best interests to get on board. The U.S. has set out to green the industrial and building sectors, and it will more than likely succeed to some degree. The government will complete this monumental task with both the carrot of incentives like those in the Stimulus Bill, and the stick of various emissions trading schemes. It may be wise to plan in advance and have a qualified guide through these coming changes when selecting your next industrial property.
Eventually, the rubber will meet the road with the green revolution, and to remain competitive, it will become increasingly necessary to be on your “green game.”
Matt Miller is a LEED Accredited Professional located in Reno, NV.