It’s no more news that each and every day, people are realizing the benefit of constructing a green house. Lawmakers and political leaders are constantly engaging with field engineers in understanding the potentials of limiting the emissions released by buildings.
Just as mentioned in one of our blog post, buildings account for more than 70% of total emissions, so buildings play an important role in the effort towards curtailing the present level of emissions and commercial buildings are responsible for about half of the emissions coming out of buildings, so with the policy on tax cut, businesses can enjoy $1.80 tax deduction for every square foot of energy-efficient space.
Now the good news for home owners is that a tax cut will be granted to those who implement an appreciable level of green-house related development.
As reported in popular magazines such as the journal of the American Institute of Architects, the building owners and designers will both enjoy the benefit of lower tax bills, just as spoken by the president of AIA, “Investing in smart, money-saving designs not only means a better bottom line for designers and building owners, but also means lower tax bills for Americans nationwide”.
The energy policy act of 2005 is the mother of the section that deals specifically with tax deduction- section 179D, and the section seeks to encourage the development of green houses and make the environment more habitable. Such policies on greenhouse development are part of the effort made by technocrats in moving the country to the 21st century style of energy efficient buildings.
The impact of the policy on designers is that it will greatly enhance the level of technological input made by designers in creating more energy efficient designs and plans. New structures that support energy friendly homes will be designed, and more research will go into finding materials that are not only cost-effective, but also more effective in tackling emission.
Also, it is expected that a new market would be opened up to the manufacturers of energy efficient materials and equipment, which also brings in a new level of work force that reduces the rate of unemployment.
More so, businesses are realizing the benefits of renewable energy and are taking positive steps towards accommodating technologies that support renewable energy. So industries are expected to meet the new demands for special energy-saving equipment and employ enough hands to carter for the emerging market.
Therefore, it is important for property owners to prepare for the future and take adequate measures towards utilizing designs and installations that would drastically reduce future expenses and also enjoy the benefits of tax cut available to energy-friendly buildings.