Obama Administration Unveils Energy Efficiency Initiative
February 3rd saw the Obama administration announce their Better Buildings Initiative; a new policy that focuses on innovation in the construction and energy sectors to help the nation get its energy consumption under control, and to boost investment in an industry which continues to suffer under the current economic conditions. With many in the construction sector still seeking jobs, this announcement should come as some comfort, knowing that this administration is willing to invest new money into the industry.
From the press release:
Improving energy efficiency in our buildings can create jobs, save money, reduce our dependence on foreign oil, and make our air cleaner. The Presidents Better Buildings Initiative will make commercial buildings 20 percent more energy efficient over the next decade by catalyzing private sector investment through a series of incentives to upgrade offices, stores, schools and other municipal buildings, universities, hospitals, and other commercial buildings.
This continues to build on the governments previous investment in the economy under the American Recovery and Reinvestment Act (ARRA) of 2009. Most notably, the initiative includes tax incentives for retrofitting existing buildings to be more energy efficient, and increasing financing opportunities to do so.
