Installation of Mechanical Insulation could qualify for a tax credit
Insulators International Staff — Fri, Oct 28, 2022 @ 12:10 PM
Mechanical Insulators Labor Management Cooperative Trust (LMCT) Executive Director Pete Ielmini joined the America’s Work Force Union Podcast and talked about the Commercial Buildings Energy Efficiency Tax Deduction.
The 179D Commercial Buildings Energy Efficiency Tax Deduction provides a tax incentive to building owners who make energy-efficiency improvements to their buildings, including installing Mechanical Insulation.
Ielmini appeared on AWF on Oct. 26 and explained that the tax credit has been a part of the tax code since 2006 but is overlooked. He estimated that Mechanical Insulation could save building owners up to 35 percent of their energy bill.
Building owners can deduct $0.63 for every square foot of a building by reducing 15 percent of their energy consumption. They could receive a more significant rebate if greater savings are proven. A Mechanical Insulation energy audit can be performed to ensure such savings.
The LMCT is working to educate people about the tax deduction and promote the energy and economic savings of Mechanical Insulation, Ielmini said.
Firestop and smoke seal inspections are critical to public safety
Ielmini concluded the podcast by discussing the vital role firestop and smoke seal inspections play in public safety. He called these inspections critical and noted they could be performed simultaneously with a Mechanical Insulation Energy Audit.
Ielmini believes it is shameful that many buildings are not adequately equipped with firestop products because the technology has been widely available for decades. These products effectively stop fire and smoke from spreading throughout the building and can save lives and property.
Ielmini pointed to last January’s tragic fire in New York City that killed 17 people, including eight children, as a textbook example. It was smoke, which migrated from a third-floor apartment to the ninth floor due to a lack of firestop and smoke seal protection that killed the victims, not the fire. With proper firestop and smoke seal, the tragedy could have been prevented.
The LMCT is currently lobbying Congress to pass a law to mandate firestop and smoke seal inspections because they are critical to public safety, Ielmini said.
Listen to the interview: