U.S. Senator Ken Salazar

Member: Finance, Agriculture, Energy, Ethics and Aging Committees

 

2300 15th Street, Suite 450 Denver, CO 80202 | 702 Hart Senate Building, Washington, D.C. 20510

 

 

For Immediate Release

June 20, 2007

CONTACT:    Cody Wertz – Comm. Director
303-350-0032


 Sen. Salazar Praises Leadership of Real Estate Industry on Energy Independence

WASHINGTON, D.C. – Earlier today, United States Senator Ken Salazar participated in a panel discussion on securing America’s energy independence at the Annual Meeting of the Real Estate Roundtable, 100 or more senior executives of the nation’s leading real estate development, ownership and management companies.

“Two-thirds of the Nation’s electrical energy use occurs in buildings,” said Senator Salazar. “The real estate industry has been a leader on improving energy efficiency – since 1970, commercial energy use per square foot is down 25 percent, and commercial energy use per household is down nearly 40 percent. That kind of industry leadership is an example the Nation can follow, and we can and should do even better.”

During the discussion, Senator Salazar highlighted a number of building energy efficiency initiatives he has pushed forward in the Senate, including:

  • Senator Salazar’s co-sponsorship of the bipartisan EXTEND The Energy Efficiency Incentives Act of 2007, which would extend through 2012 the tax deductions for energy efficient improvements made to commercial buildings, such as heating and cooling systems, interior lighting systems, and insulation (provided the improvement is certified by 2012 and put into service by 2014). The bill also increases the amount of the deduction from $1.80 per square foot to $2.25 per square foot; and

  • Senator Salazar’s Wind Energy Investment Tax Credit, included in yesterday’s Senate Finance Committee energy tax package and expected to be added to the energy bill currently before the Senate later this week. Senator Salazar’s “Rural Wind Energy Development Act” (S.673), would provides a 30 percent tax credit (up to $4,000) on the purchase of small residential wind systems generating less than 100 kilowatts. A typical 10 kilowatt system, enough to power a home or family farm or ranch for a year, can cost as much as $50,000, pricing these systems out of most consumers’ budgets. Senator Salazar’s credit would be the first federal wind tax credit aimed at such small producers in more than 20 years; and

  • Senator Salazar’s co-sponsorship of the bipartisan Securing America’s Energy Independence Act (S. 590), which provided an investment tax credit for solar and fuel cell property. A similar provision, extending the 30 percent investment tax credit of up to $4,000 for qualified solar energy property and fuel cell property, was included in yesterday’s Senate Finance Committee energy tax package.

Also participating in the panel discussion were: Richard Fedrizzi, President and CEO of the U.S. Green Building Council, Brenna Walraven, Executive Director of the USAA Real Estate Co. and Chairwoman-elect of the Building Owners & Managers Association (BOMA), and Jeffrey Schwartz, the Chairman of the Board and CEO of Denver-based ProLogis who served as moderator.

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