Environmental Tax Incentives

As the "green" movement continues to get more traction, so do the programs available for helping people to become green. Hence, I did some digging around to see how Uncle Sam is participating. Here is what I found.

Federal

The Unitied States federal government is offering a $.60 / square foot tax incentivs to businesses who build or update buildings in 1 or more of the three following ways:

  1. the building envelope
  2. lighting
  3. heating and cooling systems

In order to receive the maximum $1.80 / sqare foot benefit, the energy savings from these updates must aim to achive a %50 reduction in energy used for heating and cooling.

This tax incentive is available through 12/31/08.

 Additional Resources:

State and Local Programs

Many state and local programs offer discounts, sales tax incentives, and even cash grants to businesses. For instance, here in Washington, Puget Sound Energy (PSE) offers grants to its customers who install efficiency upgrades to their existing equipment or facility. Grants often range from several hundred dollars to over a hundred thousand dollars, and typically pay for about 50% of a project’s cost; sometimes up to 70% of the installed cost. Common projects for energy efficiency grant incentives include:

  • Lighting Retrofits  
     
  • HVAC Systems & Controls (natural gas & electric)  
     
  • Efficient water heating (domestic, heating, & process)  
     
  • Adjustable Speed Drives  
     
  • Compressed air system upgrades  
     
  • Industrial process systems & equipment  
     
  • Building commissioning  
     
  • Adjustable Speed Drives

Here is a list of resouces available from state programs:

Resouces Courtesy of Business.gov

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