06/05/2006
NEWS RELEASE
Contact
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Chris Watts, MARC USA/Indianapolis Public
Relations
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Phone: 317.638.9158
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Fax: 317.632.0078
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OR
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Mike Lynam, Knauf Insulation
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Phone: 800.825.4434
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Fax: 317.398.3675
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IRS releases commercial building guidelines for 2005 Energy
Act
(WASHINGTON, DC and SHELBYVILLE, Ind., June 5,
2006) The Internal Revenue Service today released more
detailed guidance for commercial building owners on qualifying for
energy efficiency tax credits under the Energy Act of 2005.
Knauf Insulation supports these incentives as a way to encourage
energy conservation and operational savings: Insulation already
installed in U.S. commercial buildings saves $10 billion in energy
costs every year - it’s estimated that if U.S. businesses could cut
another 10% from operating costs through energy efficiency, it
would free an additional $10 billion annually for other economic
activity.
Commercial buildings qualify for a $1.80 per
square foot tax deduction for energy efficiency improvements under
the Energy Act. Documentation released today specifies that
these improvements must involve the building’s envelope, HVAC, hot
water and interior lighting systems and lead to a 50% energy
efficiency improvement over ASHRAE Standard 90.1-2001. This
would include duct and other insulation additions and
enhancements. If energy efficiency improvements do not meet
the 50% target, building owners may still qualify for a $.60 per
square foot deduction by meeting a 16 2/3% energy savings
target.
Full details on the commercial tax credit
guidelines can be found at www.irs.gov/pub/irs-drop/n-06-52.pdf.
The Energy Policy Act of 2005 also provides
tax credits for homeowners and homebuilders for energy efficiency
improvements, including insulation upgrades. Together, these
incentives support the drive for energy conservation, to cut
greenhouse gas emissions and reduce the nation’s dependence on
fossil fuels. Insulation contributes to all of these goals:
Insulation currently installed in U.S. homes and buildings saves
more than 42 quadrillion BTUs of energy annually, cutting carbon
emissions by 780 million tons every year.
Knauf Insulation recently launched a new
educational initiative, Thinksulation, designed to educate
homeowners, homebuyers and the construction industry on
insulation’s role in sustainable construction, including energy
conservation. More details on this and the 2005 Energy Act
are available at www.thinksulation.com.
About Knauf and
Thinksulation. Knauf Insulation is a leading global
manufacturer of thermal and acoustical insulations for residential,
commercial, industrial, OEM and metal building applications.
Knauf Insulation recently launched “Thinksulation,” an initiative
geared towards educating the public and helping the construction
industry promote energy efficiency and the environmental benefits
of fiber glass insulation. For more information about
Thinksulation, visit www.thinksulation.com; for more
on Knauf sales and products, visit www.knaufusa.com, write to Knauf
Insulation, One Knauf Drive, Shelbyville, IN 46176 or call
800-825-4434.