Energy Star Labeled Metal Roof Tax Credit Renewal

Over the next three weeks, Congress will continue to deal with the rising cost of energy. 

After they returned from their August recess on September 8, 2008, which will remain in session until September 25, they will adjourn for the rest of the year.  Both houses of Congress have introduced bills that provide incentives for the development and use of renewable energy and to improve energy efficiency.  These are also incentives to the building construction industry, where extension and enhancement of tax credits and deductions were proposed for residential and commercial construction. 

Some of the provisions were supposed to be renewed tax incentives that expired by the end of 2007.  This included the $500 tax credit for homeowners that would install an Energy Star labeled prepainted metal roof. 

Incentives to commercial building owners who use more energy efficient materials and systems in their design would have increased tax deduction amounts and/or extended time periods.  An effort to pass that kind of legislation has failed. The Democrats have taken a stand and any tax incentives to be paid out must be balanced or paid for by another source of revenue.   This debate has been the existing tax breaks that the oil industry is receiving.  One side of Congress is trying to remove or reduce the tax breaks for the oil industry to pay for tax breaks being offered to building owners and renewable energy developers.  

 

Meanwhile, the market place for solar power industry, wind industry and geothermal industry are waiting for the catalyst to push their respective energy sources beyond the tipping point.  Research continues to remove obstacles, improve efficiency, and lower the cost to utilities and building owners.  A news release from MIT revealed that scientists discovered an inexpensive way to store solar energy when the sun is not shining.  This could move solar power into a mainstream energy source.  Electrical engineering and computer science departments from MIT also revealed that they successfully transmitted electricity from a power source to a light bulb located 7 feet away without using any wires.

 

Now that the market is moving along smoothly, all we need is for Congress to pave the way with an incentive to building owners and designers to utilize the most energy efficient products available.

 

Source: http://www.designandbuildwithmetal.com/Columnists/Writers/scott_kriner_9_9_08.aspx

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2 Responses to “Energy Star Labeled Metal Roof Tax Credit Renewal”


  1. 1 Jim Turner September 26, 2008 at 9:57 pm

    It is certainly a shame that these incentives were not passed for commercial sturctures. Congress is missing the boat there.

  2. 2 Jim Turner September 26, 2008 at 9:59 pm

    Too bad that Congress did not pass tax credits for commercial structures. They are really missing the boat there.


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