Texas Renewable Energy Incentives

 

Texas Renewable Energy Incentives

Apart from TXU partnering with various solar companies to lease solar panel systems to homeowners, Texas provides other incentives for businesses and homeowners involved in renewable energy technologies.

Texas incentives allow for companies and other organization subject to their franchise tax to deduct 10% of the total cost of a solar energy system from the franchise tax.  

Another of Texas' incentives includes corporations involved in the manufacturing, selling, and installation of solar energy devices to be exempt from the state franchise tax.  This exemption is significantly beneficial to manufacturers as there is no ceiling on the exemption.

According to Texas' solar incentives program, the franchise tax is equivalent to the corporate t ax.

A solar energy device is defined as a system or series of mechanisms designed primarily to provide heating or cooling or to produce electrical or mechanical power by collecting and transferring solar-generated energy. The term includes a mechanical or chemical device that has the ability to store solar-generated energy for use in heating or cooling or in the production of power.  Wind energy technologies are also eligible for the franchise tax deduction and exemption.

Texas incentives also allow for the property tax exemption of the appraised value of a property as a result of any installation or construction of either a solar or wind-powered energy device meant to produce and distribute thermal, mechanical, or electrical energy for on-site use or for a device that is used to store that energy.

To apply for this incentive, one must fill Form 50-123, "Exemption Application for Solar or Wind-powered Energy Devices".

With many states offering great solar rebates and incentives, it is time for the federal government to strongly encourage the use of renewable energy. In his national address on Tuesday, the President declared one of his next goals is to push clean energy in the United States. This is in response to the catastrophic oil spill in the Gulf of Mexico and the fact that the United States is spending billions every year on foreign energy. The President want more of our consumed energy to come from national, clean energy sources.

Rich Hessler
Business Services for the Successful Small Business 

Posted via email from richhesslersolar's posterous

Obama Calling for Clean Energy

Obama Calling for Clean Energy

After visiting the victims of the BP oil spill in Mississippi, Alabama, and Florida, Obama commits the United States a new future of clean energy.

After a BP oil rig exploded and sank off the coast of Louisiana in April, an estimated 35,000 barrels of oil have been released into the Gulf of Mexico each day. The oil has caused irreversible damage on the eco-system and destroyed the jobs of many fisherman that live on the coast.

As part of its commitment, BP must pay for all clean-up costs and reimburse those affected by the spill, totally near $1.6 billion (still rising).

As one of the largest environment disasters in United States history, President Obama may use this as an opportunity to promote renewable energy. In addition to the environmental costs of drilling for and consuming oil, citizens give billions of their hard-earned money to unstable foreign countries for more. Obama wants to change the way America produces and consumes energy.

This includes investing into energy efficiency and renewable energy. Through these retrofits, America will become energy independent and create quality green jobs. 

Posted via email from richhesslersolar's posterous