Newsline

Tax Extension Benefits HVAC

July 23, 2007
/ Print / Reprints /
ShareMore
/ Text Size+

WASHINGTON - The HVAC industry has the opportunity to benefit from federal tax incentives extended earlier this year. Homebuilders and commercial building owners can lower both the energy costs of their buildings and their federal tax liability through 2008 by incorporating energy efficiency in their properties. Tax breaks are also available for energy-saving improvements to existing commercial buildings through 2008.

“We urge all eligible businesses and manufacturers to improve their bottom lines, help extend the nation’s energy supplies, and lessen their contributions to air pollution and climate change by taking full advantage of the federal energy-efficiency tax incentives,” said Kateri Callahan, president of the Alliance to Save Energy.

Through tax year 2008, owners or tenants can receive a federal tax deduction of up to $1.80 a square foot for cutting by at least half the annual heating, cooling, ventilation, water heating, and interior lighting costs of new or renovated buildings that meet the national American Society of Heating, Refrigerating and Air-Conditioning Engineers’ (ASHRAE’s) Standard 90.1-2001.

Lesser deductions, of $0.60 per square foot, are available for less sweeping energy-efficiency measures - specifically for improvements to only one of three building systems - the building envelope, the lighting system, or heating and cooling system. To claim that deduction, the owner or tenant must reduce total heating, cooling, ventilation, water heating or interior lighting energy use by 16.66 percent (that percentage being one-third of the higher 50 percent goal). If the owner or tenant makes energy-efficiency improvements of 16.66 percent to two of the three systems, an $0.80 per square foot tax deduction is available.

For more information, visit www.energytaxincentives.org.

Publication date: 07/23/2007

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.

Podcasts

NEWSMakers: Mark Satterfield

Mark Satterfield, founder and CEO of Gentle Rain Marketing Inc. and author of “The One Week Marketing Plan” talks about his book and the importance of HVAC blogging. Posted on Sept. 19.

More Podcasts

ACHRNEWS

NEWS 09-15-14 cover

2014 September 15

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Venting R-22

The NEWS reported that a man received prison time for venting R-22. Should EPA step up enforcement?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con