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Federal Business Energy Investment Tax Credit

As well as all the state tax and utility incentives there are also federal tax credits available for energy efficiency. Sometimes the Federal credits can be combined with the other offers to add up to big savings.
The Business Energy Investment Tax Credit is a corporate tax credit for:Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Wind, Biomass, Geothermal Electric, Fuel Cells, Geothermal Heat Pumps, CHP/Cogeneration, Solar Hybrid Lighting, Direct-Use Geothermal, and Micro turbines. The amount vary by the type of energy. 30% of the cost for solar and small wind energy can be taken or $200 per kWh for micro turbines. The money comes from the American Recovery and Reinvestment Act of 2009. This credit is set to expire December 31, 2016, so there is plenty of time to get these energy efficiency measures installed.

Some details by energy type:

• Solar. The credit is equal to 30% of expenditures, with no maximum credit. Eligible solar energy property includes equipment that uses solar energy to generate electricity, to heat or cool (or provide hot water for use in) a structure, or to provide solar process heat. Passive solar systems and solar pool-heating systems are not eligible.

• Fuel Cells. The credit is equal to 30% of expenditures, with no maximum credit. However, the credit for fuel cells is capped at $1,500 per 0.5 kilowatt (kW) of capacity.

• Small Wind Turbines.** The credit is equal to 30% of expenditures, with no maximum credit for small wind turbines placed in service after December 31, 2008. Eligible small wind property includes wind turbines up to 100 kW in capacity.

• Geothermal Systems.** The credit is equal to 10% of expenditures, with no maximum credit limit stated. Eligible geothermal energy property includes geothermal heat pumps and equipment used to produce, distribute or use energy derived from a geothermal deposit.

• Micro turbines. The credit is equal to 10% of expenditures, with no maximum credit limit stated (explicitly). The credit for micro turbines is capped at $200 per kW of capacity.

• Combined Heat and Power (CHP).** The credit is equal to 10% of expenditures, with no maximum limit stated.

For details about all of these credits or to find out about your options to make your business more energy efficient, please contact us: controlledair@controlledair.com

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