U.S. Senator Ben Cardin (D-Md.) has reintroduced the “Energy-Efficient Cool Roofs Jobs Act,” S. 2388, which would boost job creation in the construction industry and significantly increase the energy efficiency of buildings throughout the U.S., lowering energy costs and saving money. The bill would improve investment returns on building energy-efficiency improvements by shortening the tax depreciation period for the installation of new roofs on existing buildings that meet certain thermal performance and “cool roof” requirements.
S. 2388 is co-sponsored by Senators Mike Crapo (R-Idaho) and Dean Heller (R-Nev.). Senator Cardin also filed the Energy-Efficient Cool Roofs Jobs Act as an amendment (S. Admt 3186) to the EXPIRE Act (S. 2260). U.S. Representatives Tom Reed (R-NY) and Bill Pascrell (D-NJ) have introduced a companion bill in the House (H.R. 4740). The bill reduces the depreciation period for commercial roof retrofits, lowering the current 39-year depreciation period in the current tax code to a 20-year depreciation period for energy-efficient cool roof systems. To qualify, roofs must include systems with insulation that meets or exceeds the ASHRAE Standard 189.1-2011, a model green building standard, and have a cool roof surface in climate zones one through five.
The Energy-Efficient Cool Roofs Jobs Act has attracted a wide range of supporters. The bill would create nearly 40,000 new jobs among roofing contractors and manufacturers; add $1 billion of taxable annual revenue in the construction sector; make the tax code simpler and more equitable for small businesses of all types; reduce U.S. energy consumption and save small businesses millions of dollars in energy costs; and reduce carbon emissions by 800,000 metric tons – an amount equal to the emissions of 153,000 cars.