Washington, D.C. – June 19, 2015 – (RealEstateRama) — Nevada Senator Harry Reid released the following statement today announcing his co-sponsorship of the Power Efficiency and Resiliency (POWER) Act. The POWER Act, introduced by Senator Susan Collins (R-ME) and Senator Bob Casey (D-PA), aims to increase the adoption of industrial energy efficiency technologies that can dramatically reduce energy costs for Nevada’s businesses.
“This legislation will help give Nevada’s businesses a competitive advantage to become the most energy efficient in the nation” said Reid. “Industrial energy efficiency technologies like combined and waste heat to power can lower operating costs for businesses by as much as 80 percent, but they have unequal treatment in the tax code that can prohibit investment in the technologies. I am pleased to join Senators Collins and Casey in support of the Power Efficiency and Resiliency (POWER) Act to provide tax parity for industrial energy efficiency systems.”
Background:
This legislation is endorsed by the following entities throughout Nevada: the City of Reno, the University of Nevada, Reno, Desert Research Institute, MGM Resorts International, Caesars Entertainment, Ormat, Nevada Manufacturers Association, Lunas Inc., Nevada Cement Company, Nevada Small Business Development Center, Sustainable Nevada, and ElectraTherm.
