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November 28, 2012
Construction coalition calls for federal energy incentives
A coalition that includes the Canadian Construction Association (CCA) has called on Ottawa to amend regulations under the Income Tax Act to provide financial incentives to accelerate energy efficiency investments in the commercial building sector.
In a submission to federal Finance Minister Jim Flaherty and Natural Resources Minister Joe Oliver, the Building Energy Efficiency Coalition recommended that certain “qualifying” investments in major energy retrofits be added as assets for inclusion in class 43.2 in Schedule II of the regulations.
Introduced in 2005, this class currently provides for accelerated capital cost allowances for specified clean energy generation equipment.
The coalition said tax incentives would “significantly accelerate” energy efficiency investments by building owners.
“Coalition members believe that energy efficiency retrofits are an underutilized but very important source of energy efficiency gains which will reduce the need for costly energy infrastructure, reduce the emission of greenhouse gases and promote jobs.”
The proposal got a thumbs-up from CCA president Michael Atkinson, who noted that buildings are in fact a major contributor to greenhouse gas emissions.
Energy efficiency retrofits “are great for the environment and climate change,” he said.
In addition to CCA, coalition members include the Association of Energy Engineers, Canadian Federation of Apartment Associations, Energy Services Association of Canada, Rental Property Association of Canada and the Thermal Insulation Association of Canada (TIAC).
Steve Clayman, director of energy initiatives at TIAC said his organization “strongly supports” the tax reform proposal. TIAC advocates for optimum levels of insulation thickness to reduce energy consumption and greenhouse gas emissions.
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