Legislation recently introduced by Rep. Tom Reed (R-N.Y.) would make energy-efficient roofing systems more accessible by aligning the depreciation period with the lifespan of roofs.
Reed and Rep. Bill Pascrell (D-N.J.) co-sponsored the bipartisan Roofing Efficiency Jobs Act. Steps to improve the outdated cost-recovery system for roofing projects outlined in the bill would create 40,000 construction and manufacturing jobs, according to estimates.
“This is a jobs bill that has the added benefit of saving millions in energy costs with energy-efficient roofing systems,” Reed said. “The bill fairly puts the depreciation period of a commercial roof in line with its actual lifespan, a common sense reform to our tax code that results in a win for manufacturing and construction jobs and a win for small businesses working to improve their energy efficiency and lower their energy costs.”
The law currently requires a 39-year depreciation period for commercial roofs, but the average lifespan of a commercial roof is 17 years. That often prevents business owners from undertaking full-roof replacement and leads them to opt for partial repairs instead.
Under the Roofing Efficiency Jobs Act, the depreciation period would be lowered to 20 years for commercial roofs.
“This bipartisan bill creates good jobs right here in America while helping local businesses lower their energy costs,” Pascrell said. “By making this correction to our tax code, we can help businesses reduce energy consumption through key investments in our nation’s green infrastructure and strengthen our economy through job creation.”
More accessible energy-efficient roofing systems would reduce energy consumption by 11.4 trillion BTUs and reduce energy costs by millions of dollars, according to estimates.