H.R.9894 – Cool Roof Rebate Act of 2024
Summary
The Cool Roof Rebate Act of 2024 is a bill that would establish a federal tax rebate program for the installation of cool roofs on residential and commercial buildings. The bill would provide a rebate of up to $500 for the installation of a cool roof on a residential building and up to $1,000 for the installation of a cool roof on a commercial building.
Background
Cool roofs are roofs that are designed to reflect sunlight and heat away from a building, which can help to reduce the building’s energy consumption and lower its cooling costs. Cool roofs are typically made from materials that have a high solar reflectance index (SRI) and a low thermal emittance (TE).
The use of cool roofs has been shown to have a number of benefits, including:
- Reducing energy consumption and lowering cooling costs
- Improving indoor comfort
- Reducing air pollution
- Mitigating the urban heat island effect
Provisions of the Bill
The Cool Roof Rebate Act of 2024 would establish a federal tax rebate program for the installation of cool roofs on residential and commercial buildings. The bill would provide a rebate of up to $500 for the installation of a cool roof on a residential building and up to $1,000 for the installation of a cool roof on a commercial building.
To be eligible for the rebate, the cool roof must meet certain performance standards, including:
- A solar reflectance index (SRI) of at least 0.70
- A thermal emittance (TE) of less than 0.40
The bill would also require the homeowner or business owner to provide documentation of the installation of the cool roof.
Impact of the Bill
The Cool Roof Rebate Act of 2024 would help to promote the installation of cool roofs on residential and commercial buildings. This would lead to a number of benefits, including:
- Reduced energy consumption and lower cooling costs
- Improved indoor comfort
- Reduced air pollution
- Mitigated urban heat island effect
The bill is expected to have a positive impact on the economy by creating jobs in the construction industry and by reducing energy costs for businesses and consumers.
Status of the Bill
The Cool Roof Rebate Act of 2024 was introduced in the House of Representatives on May 12, 2023. The bill has been referred to the House Committee on Energy and Commerce.
H.R. 9894 (IH) – Cool Roof Rebate Act of 2024
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