The current federal tax deduction program is scheduled to end 12/31/2013. Compliant projects must be completed (accepted by the owner) by that date in order to qualify for the deduction. This program, coupled with the utility incentive programs available in many areas of the U.S., help reduce the cost in investing in more efficient interior lighting systems, including controls, in existing buildings and new construction. With only 18 months left in the program, now is the time to get the ball rolling on these projects.
On August 8, 2005 President Bush signed the Energy Policy Act of 2005 (EPAct 2005), which had passed both the Senate and House of Representatives the previous week. Estimated to cost about $14.5 billion over 10 years, EPAct 2005 is the biggest overhaul of national energy policy since 1992.
EPAct 2005 is considered to be less ambitious on energy's demand side than its supply side, but does include a number of energy conservation provisions supported by the National Electrical Manufacturers Association (NEMA), several of which are of great interest to the industry.
EPAct 2005 contains a significant provision that includes a tax deduction of up to $1.80 per square foot for building owners to encourage investment in energy-efficient building systems. This provision, estimated by Congress to cost $243 million and anticipated to stimulate widespread investment, is supported by NEMA and various industry, efficiency, advocacy and environmental organizations.
The Federal Energy Policy Act of 1992 mandated efficiency standards for many lamp types. OSRAM SYLVANIA's EPACT 1992 Brochure provides an overview of how the company responded to the regulation and which products were affected.
EPACT required the labeling of incandescent A-line and screw-based compact fluorescent lamps (CFLs) with energy cost information, set minimum efficacies for incandescent R and PAR 30 & 40, and set minimum efficacies and color rendering standards (CRI) for straight and U-bend fluorescent, effective for 4-ft lamps.
SYLVANIA's EPAct 2005 Interactive Calculator helps take the mystery out of calculating your tax deduction benefits.
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