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Showing posts from August 1, 2010

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