Lenexa, KS (PRWEB) October 31, 2013
Leading energy-efficiency experts are encouraging businesses to expedite their plans for energy efficiency retrofit projects by the end of this year. The sense of urgency comes from the ending of the EPAct Tax Incentive, provided it is not extended.
The Energy Policy Act was enacted in 2006 by the Internal Revenue Service, and provides federal tax deductions as incentives to make buildings more energy efficient.
“Business owners who have contemplated energy efficient projects have more reason than ever to implement their projects this year,” said Gaylen Davenport, CEO of Worldwide Energy.
“Tax incentives can pay for a large portion of any retrofit project. With the incentives due to end, anyone planning an energy efficiency project should take advantage of it before year end.”
A proposal to extend EPAct for three years through December 31, 2016 has been introduced to the Senate. The proposal includes a new provision (179D) for a $4 per square foot tax deduction for “deep retrofits” for commercial buildings 10 years or older. It would also change the baseline from ASHRAE 90.1-2001 to the 90.1-2004 version, and eventually 90.1-2007, making the deduction more difficult to achieve.
For more information on the ending tax incentives, contact Worldwide Energy at (913) 310-0705.
Worldwide Energy, Inc. (http://www.worldwideenergy.com) provides custom energy solutions including efficient lighting, mechanical and process systems, solar and wind energy systems, and alternative fuel conversion. This includes the ability to design and certify efficiency projects to meet the DOE’s requirements and provide the comprehensive tax support package necessary to secure tax incentives, as well as procuring all available utility incentives. As the single point of responsibility, we ensure our clients’ complete satisfaction.