Source – White House Press Release – February 3, 2011
By – Jeffrey Howell, Esq.
In an effort to increase efficiency, reduce dependence on foreign oil, and create employment opportunities, President Obama has embraced investing in clean energy technologies through a plan dubbed the “Better Buildings Initiative. “
The plan calls for reducing commercial building energy consumption by 20% over the next decade through government backed incentives for energy efficiency upgrades. The program is expected to save approximately $40 billion in energy costs, a sum that will then be available for investment into other business needs.
President Obama’s plan will include reformation of the current tax incentive structure to a more favorable credit based as opposed to the existing deduction based programs. The plan will also increase loan limits for small business and streamline regulation to attract private investment opportunities. This new effort is in addition to existing ARRA funds, including $5.5 billion provided to the General Services Administration to improve energy efficiency in their existing building portfolio pursuant to Executive Order 13514 which directed federal agencies to achieve net zero energy by 2030.
Endsley + Associates Law Firm is closely following these programs to determine the most favorable outcomes for clients who are considering retrofitting commercial properties. The firm is uniquely positioned to handle real estate and business transactional and litigation needs, as well as real estate transactions with an understanding of cleantech, renewable energy, sustainable building, and carbon emissions issues. Please contact the firm to discuss how these principles can fit into your overall legal solutions.
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