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It’s all about that tax credit

Posted at May 27, 2015 | By : | Categories : Blog | 0 Comment

While making the switch to LED lights can initially be expensive there are many programs out there to help with the costs. Federal tax credits are provided to encourage businesses to be more energy efficient.

A federal tax credit reduces the amount of income tax you have to pay. Unlike a reduction a credit directly reduces the tax itself. The tax credit and federal incentives vary by each state. You can visit the Department of Energy’s website to see which incentives are available to you in your state: http://www.dsireusa.org.

The Business Energy Investment Tax Credit has a program type called Corporate Tax Credit. The rebate amount includes 30% for solar, fuel cells, small wind and PTC-eligible technologies and 10% for geothermal, mictroturbines and combined heat and power. The tax credit is provided by the U.S. Internal Revenue Service and is a federal tax credit. Visit the link above to discover the other state and federal tax credits available.

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