Bush Signs Energy Bill

President Bush signed into law today the comprehensive energy bill that Congress passed in July. It marks the culmination of four years of effort by a number of groups including the Glass Association of North America (GANA)'s Flat Glass Manufacturing Division (FGMD) and gives tax credits to homeowners and businesses that use energy-efficient glazing products.

"The benefits of the new law will be felt by the industry as a whole," said Steve Farrar of Guardian Industries Corp., quoted in the GANA Glass Reflections. "The tax incentives should encourage various parts of our customer base to upgrade their current or planned glazing with energy-efficient products."

With the new law, the tax credits will be available for homes acquired or property placed in service after December 31, 2005 and will close on December 31, 2007.

The law will have a far-reaching effect, touching those in commercial buildings, new homes, manufactured homes and existing homes. Commercial buildings will receive credit up to $1.80 per square foot for energy efficient commercial building property for buildings certified to be 50 percent more efficient than reference building using ASHRAE 90.1-2001, and a partial allowance of up to $.60 per square foot for subsystems certified to meet the targets to make the whole building 50 percent more effective (if all systems were incorporated) is available.

New homes will receive a tax credit of $2000 if they are certified to be at least 50 percent more energy efficient than a reference home (as constructed in accordance with Chapter 4 of IECC 2003 and manufactured homes will be available for the same tax credit if they can prove to be similarly energy efficient (compared to a reference home conforming to Federal Manufactured Home Construction & Safety Standards). Existing homes will be able to receive up to 10 percent of the amount paid for "qualified energy efficiency improvements" as a tax credit. Windows and other types of glazing are included.


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