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Small business owners across America are recognizing the financial incentives of converting to renewable energy sources. The Energy Policy Act of 2005 (Epact) provides incentives in the form of tax credit to individuals purchasing and installing solar equipment. Purchases made between January 1, 2006 and December 31, 2008 may qualify for tax credit in the form of a dollar-for-dollar reduction in tax liability. |
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The Energy Policy Act of 2005 (Epact) provides incentives in the form of tax credit to individuals purchasing and installing solar equipment. Purchases made between January 1, 2006 and December 31, 2008 may qualify for tax credit in the form of a dollar-for-dollar reduction in tax liability. Purchases made anytime thereafter may qualify for a 10% tax credit. This particular incentive is the first tax credit ever offered to residential buyers. Commercial users may qualify for a 30% reimbursement with no cap, and photovoltaic buyers can earn a tax credit of 30% up to the first $2,000 spent on equipment and installation. |
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The US Department of Energy estimates the amount of solar energy produced in one hour, is roughly equivalent to the amount of energy the entire country uses in one year. Solar power is an abundant and renewable source of energy. Efficient in both large-scale corporate applications, and in small residential situations, solar power is also malleable enough to be used either alone, or in conjunction with local utilities. |
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As a nation, we spend almost $200 billion a year to cool, heat and light our homes. The average American could save 30% or more by incorporating renewable energy into their home. The urgency to conserve dwindling fossil fuels and to increase environmental protection has yielded a bevy of renewable energy sources for homeowners. |
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The Farm Security and Rural Investment Act of 2002 created the Renewable Energy Systems and Energy Efficiency Improvements Program under Title IX, Section 9006. This program funds grants and loans to help rural business owners and agriculture producers purchase renewable energy producing equipment. In March of 2008 the USDA announced they were accepting applications for these grants and loans and had secured in excess of $220 million dollars as incentive funds for energy efficiency improvements and purchasing renewable energy systems. |
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Solar power is an abundant and renewable source of energy. Efficient in both large-scale corporate situations, and in small residential situations, solar power is also malleable enough to be used either alone, or in conjunction with local utilities. |
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The use of fossil fuels as an energy source has increased significantly since the industrial revolution. The extraction process leaves land devastated across every continent, the refining process creates industrial pollution both on land and in the water, and accessing fossil fuels in war-torn countries puts the lives of countless individuals at risk. Home and business owners face the growing costs of fossil fuel based energy sources as the environment is stressed beyond repair. |
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A growing concern over dwindling natural resources and their subsequent rising costs, has led many consumers to seek out renewable energy sources. Recognizing the benefits of renewable energy use, state and local governments have begun offering financial incentive programs to government, municipal, and private owners for their use of renewable energy. |
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