Tax Incentives

COOL-AMERICA PLAN INCENTIVES

A Cool-America stimulus package will provide tax incentives to property owners; worker skill training; educational grants; and small business financing that enables mobilization of a Climate Change Work Plan America (CCWPA) with a single purpose changing the albedo (solar reflectance) of rooftops, roads, asphalt parking lots, bike trails, cross walks, playgrounds and building facades with solar reflective coatings to conserve energy, further augmented by nighttime energy saving from the installation of LED illumination. 

TAX CREDITS AND INCENTIVES

1.          Heat Mitigation Tax Credit: 

A Tax Credit shall apply to property owners who can demonstrate “before and after” surface temperature reduction on roofs, pavement or building façades when solar reflective (high albedo) coatings are applied.  The cooling effects can be measured and monitored with Digital Infrared Heat Gun; standards of which will be based upon qualified manufacturer equipment and verifiable heat calibrations. 

2.        CO₂ Mitigation Tax Credit:

      A Tax Credit will apply to property owners who can demonstrate C0₂ mitigation based upon the minimum Department of Energy standard expressed as 10 tons C0₂ per 1000 sq. ft. of solar reflective coating which measure .4 SRI (40% reflectance) or higher.” White roofs can often measure as high as .8 SRI, while pavements coatings are typically lower. In the case of roads and parking lots, white pavement coatings will not qualify due the glare which interferes with driving visibility. 

3.        LED Energy Reduction Retrofits:

A Tax Credit will be given for augmentation of Solar Reflective Pavement with the addition LED lighting on roads, parking lots, bike lanes and other paved surfaces. Tax Credits will be based upon LED reduced kilowatt hours per location, with a factor for increased public safety provided by the combined suite of solar reflective surfaces  with LED. 

4.         Criteria for Eligibility:  

       Deductions will be available primarily to building owners, although tenants should be eligible if they make construction expenditures. In the case of energy efficient systems installed on or in government property, tax deductions will be awarded to the party primarily responsible for the system's design. Deductions are taken in the year when the project is completed and proof of solar reflectance ratings are confirmed by the accredited agencies forming the Standards Council for the Cool-America Plan.

GRANT INITIATIVES

1.          Project Training Programs

        Funds will be made available for small pilot projects in cities across America supporting product development in support of solar reflective and heat mitigating technologies; low energy methodologies for worker implementation and training.  Funds will also be made available to Federal agencies for studies and education of the general public to enhance consumer awareness, such as the “Cool Communities” and “Cool Roof Seminars” currently being offered by DOE.  Education and training programs also include the development of “Science of Cool”  curriculum for educational institutions.

2.         Worker Training & Placement 

         Each aforementioned pilot project will be used to train teams of installation and support personnel, and product applicators. Part of this program will place pilot projects at community colleges and trade schools to augment and expand upon the educational and training capabilities available locally. 

SPECIAL UNDERWRITING  

1.         Small Business Financing  Programs

         Governments at all levels are in need of project financing. These funds enable government to finance projects related to the Cool America Plan by accessing low-interest loans, which can be paid for by energy conservation, extended life cycles of paved surfaces, improved public safety and, increased tax revenues through job creation and economic growth. A portion of this financing to be allocated as matching funds to make additional investment capital available to these technology companies and the multitude of small businesses that will be created to support the Cool America Plan to stimulate growth through entrepreneurship.  

2.         Special Bond Issues for School District 

          A class of government backed revenue bonds will be issued to enable the schools to purchase materials needed cool down the playgrounds and buildings.  Community events will also be sponsored to encourage Mayors, local business leaders, parents, faculty to get out on the pavement with the children in work parties to get the projects done. 

Allocation amounts and % basis for credits and deductions are under review.

Other incentives are under consideration and will be announced at a later date.