Bipartisan legislation to create jobs and promote energy efficiency was introduced by Reps. Bob Dold (R-IL) and Linda Sanchez (D-CA) on Friday.
U.S. energy consumption would be reduced significantly under the bipartisan Mechanical Insulation Installation Incentive Act of 2015, which would create an estimated 25,000 jobs annually while saving $35 billion in energy costs and reducing carbon dioxide emissions by 170 million metric tons.
“Increasing mechanical insulation at manufacturing plants and other facilities can generate billions in energy savings, reduce carbon dioxide and other greenhouse gas emissions by millions of metric tons, and create thousands of jobs annually,” Dold said. “This bill is a bipartisan win-win. Increased use and maintenance of mechanical insulation can pay for itself in a short time, help grow the economy and better preserve our environment.”
Mechanical insulation is cost prohibitive for many employers but is proven to drastically cut energy consumption and greenhouse gas emissions in commercial buildings. Under the proposed legislation, employers would receive a 30 percent tax credit for installing mechanical insulation in commercial or industrial buildings. The tax credit would be available for five years to provide enough time to implement necessary installation.
“Energy efficiency in homes has been a leading issue for consumers for many years, but unfortunately mechanical insulation has been largely overlooked,” Sanchez said. “It is a vital component in constructing and maintaining high-performance, energy-efficient buildings and protect our environment. This bill would encourage more manufacturing facilities, office buildings, schools, hospitals, power plants, hotels, and universities to invest in improving the energy efficiency of their buildings and machinery. I’m proud to join with Rep. Robert Dold to introduce this important bipartisan legislation.”