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Going green can help small businesses save
By CARLOS ORTEGA
Posted: 1/28/2010 6:37:14 PM

Not only are green concerns increasingly important to many consumers, they can help a business minimize costs. U.S. government small business resource Business.gov reports that small companies can cut more than 25 percent of their energy expenses by following an energy savings plan.

Primarily, the government offers extensive incentives to businesses going green. For example, the Renewable Energy Production Tax Credit is available to facilities that use wind, geothermal energy, waste, hydropower or other types of renewable energy to produce electricity.

Up to $50,000 is also available to business owners who have qualified property and use alternative fuel - if the fuel is hydrogen, up to $200,000 is available.

For those who choose not to apply for tax credit, a renewable energy grant is applicable to services placed in 2009 and 2010. If the facilities will be in service before 2014 and meet requirements, grants are available for up to 30 percent of the initial investment.

More incentives are offered at the state level, and a database is available at the Department of Energy's website. Other funding options can be found at Business.gov.

Further help may be on the way for companies looking to maximize energy efficiency. In his State of the Union address, President Obama confirmed his commitment to "passing a comprehensive energy and climate bill with incentives that will finally make clean energy the profitable kind of energy in America."




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