REMI luncheons are held each month at Metro Center, 700 12th Street, NW, Suite 700, Washington D.C. 20005.
The use of tax deductions to promote energy efficiency inspired an in-depth discussion at REMI’s most recent Washington DC policy luncheon.
Presenting before a packed room at One Metro Center July 29, REMI CEO and Chief Economist Fred Treyz, Ph.D. along with REMI Senior Economic Associate John Bennett shared the results of a recent REMI report on the economic impacts of section 179D of the Energy Policy Act of 2005, which offers the owners, operators or designers of energy-efficient commercial buildings a tax deduction in accordance with the degree of their energy savings.
The REMI report found that extending existing law for an additional 10 years can sustain up to 50,000 jobs across the US economy, and potentially up to 100,000 if the program is strengthened and extended for another 10 years. The audience engaged in a question-and-answer session after the presentation with REMI staff, leading to a discussion of the underlying economic dynamics – energy savings, capital investment, fiscal relief, and more – that connect section 179D to robust economic growth results.
The report, commissioned by a coalition led by the American Institute of Architects, can be found here.
The report was also sponsored by Alliant Group LP, Ameresco, Blue Energy Group, Building Owners and Managers Association (BOMA) International, Concord Energy Strategies, Energy Tax Savers, Energy Systems Group, National Electrical Manufacturers Association (NEMA), the Natural Resources Defense Council (NRDC) and the United States Green Building Council (USGBC).