This past week, the NFMT Orlando showcased facility owners and managers that were looking to implement new technologies and software into their businesses. The conference also focused on cost savings in areas such as lighting, tax incentives, and preventative measures against catastrophes.
Jacob Goldman, Vice President with Energy Savers focused on how building owners and managers can use the Energy Policy Act, new HVAC repair regulations, and cost segregation to significantly decrease the amount of time it takes to recoup their investment on building equipment, particularly those items related to energy systems in their buildings.
Learning Objectives for Facility Managers and Owners
The following objectives were covered in the session:
- Current tax incentives related to energy efficiency
- Tax incentives related to HVAC replacements
- Tax incentives related to new buildings and real estate transactions
- Legislative update on existing and proposed tax incentives related to buildings
“Money is better now than money later.” The idea is to capitalize on tax incentives you can cash in on now rather than waiting years for a return.
Mr. Goldman first mentioned that “energy savings is usually the main driver” when it comes to retrofit economics. Facility owners could receive rebates for energy efficiency lighting installments, participate in tax savings, and demand response. Capitalizing on all these incentives can bring payback for projects to below two years.
The session also covered tax incentives for different parts of buildings, such as HVAC units, windows, and other areas where parts may be replaced in order to receive a tax credit instead of replacing the whole unit. If a building can replace less than 50% of their assets each year, such as repairing or replacing 40% of your windows then a tax incentive can be met.
There were also incentives based on if a facility owner bought a new commercial building or if there was a big renovation within that year, that too could be considered for a tax credit.
There were several examples of how facility owners could save on energy costs based on the assets within the building and their lifespan.
Energy Usage and EAM/CMMS
Through the implementation of an EAM/CMMS, your staff could accurately track the lifespan of each asset determining which assets are best to retire and which could be saved. Your staff could accurately track then which assets could be used for a tax incentive based on replacement parts.
An EAM/CMMS takes the guessing work out for your facility managers and allows for your staff to be out in the field more often, monitoring assets remotely, and getting information into your systems quicker causing a long term ROI for your business.