Press Release Summary:
NEMA welcomed Energy Efficiency Tax Incentives Act (S.2189), introduced by Senators Ben Cardin (D-MD), Dianne Feinstein (D-CA), and Brian Schatz (D-HI), which includes language that would reinstate and improve Commercial Building Tax Deduction. After lauding aforementioned senators for their leadership in advancing energy efficiency in domestic energy economy, NEMA's Evan R. Gaddis specifically noted "significant" gains to be had from reduced overall energy use through building improvements.
Original Press Release:
NEMA Commends Senate Trio on Commercial Building Energy Efficiency Incentive Legislation
ROSSLYN, Va.—The National Electrical Manufacturers Association (NEMA) welcomed the introduction of legislation extending and improving upon incentives for energy efficiency in commercial buildings. The Energy Efficiency Tax Incentives Act (S.2189) introduced by Senators Ben Cardin (D-MD), Dianne Feinstein (D-CA), and Brian Schatz (D-HI) includes language that would reinstate and improve the Commercial Building Tax Deduction, which expired on December 31, 2013.
“We are very pleased to see Senators Cardin, Feinstein, and Schatz provide leadership to advance energy efficiency in our domestic energy economy,” said NEMA President and CEO Evan R. Gaddis. “Commercial buildings alone represent about 20% of domestic energy consumption so the opportunity to reduce our overall energy use through building improvements is significant.”
Enacted as part of the Energy Policy Act of 2005, investments made via the Commercial Building Tax Deduction (commonly referred to as Section 179D after the section in the IRS code) have led to hundreds of millions of dollars in energy efficiency upgrades in commercial buildings. These investments have not only reduced energy consumption and its associated cost in commercial buildings, but created jobs in the manufacturing, installation, and construction sectors.
NEMA is the association of electrical equipment and medical imaging manufacturers, founded in 1926 and headquartered in Rosslyn, Virginia. Its 400-plus member companies manufacture a diverse set of products including power transmission and distribution equipment, lighting systems, factory automation and control systems, and medical diagnostic imaging systems. Total U.S. shipments for electroindustry products exceed $100 billion annually.
National Electrical Manufacturers Association
Visit our website at www.nema.org