Could Tax Credits Reduce Energy Demand?

March 29, 2001
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CIBOLO, TX — With the passage of Assembly Bill 970, which will provide $50 million to the California Energy Commission for grants to reduce the peak electricity load, interest has been expressed across the country concerning tax incentives for businesses that install energy-efficient equipment.

Frank Simola, ceo of PowerCold, based here, said, “We as a nation cannot ignore Vice President Cheney’s warning about the dangers posed to our country by power shortages. The vice president is correct in saying there are no short-term fixes.

“However, we believe the quickest and cheapest way to deal with this serious problem is for Congress to create an incentive for businesses to take action by granting immediate tax credits for installing equipment that will significantly reduce energy consumption. We call on the Bush administration to take a leadership position in this effort.

“Conservation is the most logical immediate step for dealing with the crisis,” Simola added. “New power plants will take years to be permitted and built. In addition, power plants inevitably create new emission sources to dirty the air and further contribute to global warming.”

Tax incentives, on the other hand, could give businesses a strong reason to upgrade to more energy-efficient systems while reducing the need to build more power plants, he said.

For more information, contact Simola at 210-659-8450; PWCL@ (e-mail); or www. (website).

Publication date: 04/02/2001

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