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 

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BP Solar closes Maryland plant due to market competition

BP Solar closes Maryland plant due to market competition

Though BP Solar is a big name in the renewable energy industry and maintains steady investment in wind energy technology, its efforts in solar development have endured a significant blow.  

On March 26th, 2010, BP Solar announced that it would be ceasing operations at their Frederick, Maryland manufacturing facility. BP Solar opened the facility just three and a half years ago.  With lower cost solar materials and equipment being imported from China and even India, BP Solar simply determined the move to be the most financially practical.

Out of 430 employees at the Frederick plant, 320 were laid off.  Production involved with silicon casting, wafering, and cell manufacturing was ceased and all workers associated with these departments lost their jobs.  BP Solar plans to shift all the remaining in-house manufacturing to other low-cost joint ventures to ultimately become more affordable to their market.  Sales and marketing , research and technology, project development and other business support functions will remain.

Reyad Fezzani, CEO of BP Solar, stated "Solar prices declined between 40 and 50 percent since the onset of the financial and economic crisis, compressing industry margins and driving solar power towards grid competitive pricing.  By shifting our supply to a high quality, low cost supply base to serve both distribution customers and large scale projects, we have strengthened our position as a provider of competitive solar solutions with our offer of the highest lifetime value."

Beginning in the first quarter of 2009, BP Solar also closed several other high-cost manufacturing locations and consequentially reducing their prices by 45%.  Most solar companies have found themselves drastically lowering their inventory values due to strong international competition and depressed silicon prices.  

Rich Hessler
Increase your Solar Company's Profits with Focused Solar Marketing 

Posted via email from richhesslersolar's posterous