According to Energy Policy Act (EPACT), a tax deduction of $1.80 per square foot is made for every business owner. The EP Act is specially applicable to commercial buildings that reduce their energy efficiency investments by installing several energy efficient lightings, improve HVAC and upgrading the building envelope.
Some facts about the EP Act:
Every year more than $ 130 Billion of energy savings goes unnoticed in the United States.
Nation wide, there are over 71 billion square feet commercial space.
Average energy cost of commercial industrial buildings in America is $ 202 billion per year.
Few changes have been made to the EP Act that involves tax deduction up to $ 3 for every square feet and benefits must be availed to non- profits by assigning the entire credits to third parties.
The best way to control the cost associated with saving energy is to use efficient solar PV, Geo thermal, advanced Nuclear, off shore wind and energy efficient lighting.
