Rebates & Incentives
Energy Costs and Efficiencies
HAVE SOMEONE ELSE PAY FOR YOUR NEW ENERGY EFFICIENT EQUIPMENT
Government programs at the national, state and local levels are financially motivating businesses to use less energy. Almost half of the energy consumed in the United States goes to use in commercial real estate. In major cities, commercial buildings account for more than 75% of carbon emissions. Because it’s less expensive to get people to use less energy than it is to produce more power and then clean up the mess, business owners can upgrade their energy consuming systems with significant financial assistance from government and energy providers.
Green Light will help you identify the points of greatest savings using energy provider incentives and government incentives. Green Light can purchase and install the necessary hardware, and set up a lease to own option that, when combined with energy savings, will cost less than what you’re are currently paying for electricity now.
Most energy providers offer either prescriptive incentives, which pay a set amount for each device removed or replaced or custom incentives at a rate of 30-50¢ per kilowatt of energy removed from the system. In many cases, businesses are eligible for some combination of both. These energy provider incentives usually pay for 20-30% of the total cost of the project, but in many cases, the energy rebates and incentives will pay for a larger portion. It is important that a professional review the rebate options to ensure the greatest savings.
The Energy Policy Act of 2005 (EPAct) created additional incentives through tax savings for building owners and tenants based on the use of energy efficient improvements. Section 179D offers a maximum potential tax deduction of $1.80 a square foot of affected space. The rebates are based on lighting, environmental controls, and building envelope, with a potential refund of 60¢/ a square foot for each. If your company occupies 50k square foot. of space, you could get a refund of up to $30,000 for a lighting upgrade alone, and up to $90,000 for a total building upgrade. If your company operates a large 500,000 square foot space you could earn up to $900,000 in tax incentives. Green Light can manage an energy audit and retrofit on all three systems, allowing for the greatest refund and savings.
Green Light has the resources to maximize energy provider incentives and tax rebates in all 50 states. If you have not yet completed a lighting upgrade, Green Light will review your planned upgrade and rebate filings for free to make sure you’re getting every dollar possible.