Paying Off That New Alternative Energy System for Your Business or Home
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by: MichaelEdwards | Total views: 63 | Word Count: 324
Let's turn to financing in this edition of Green Products. Why financing? To go green, someone has to pay the initial costs, and sometimes these costs are high. With some of the current economic challenges, here are some thoughts
The first place to look for incentives is the manufacture. They are a business, and they are influenced by the economic downturn just like everyone else. They need to turn inventory to stay in business and that is why some are offering price reductions and rebates on green products.
The next incentive to look at is the one that began on February 17, 2009 when President Obama signed into law the American Recovery and Re-investment Act of 2009. This new law set aside money in the form of tax credits to offset the cost of installing alternative energy systems and green products.
With this new law in effect you can realize a 30% tax credit when you install an alternative energy source in your home or business. If you own a small business, you also have an option to get cash in the form of cash grants instead of the tax credit.
So how does all this help you? Simple: businesses that sell alternative energy or green products are more willing to negotiate price, the government is allowing for large tax credits, and energy costs are skyrocketing again. Together this means you can put something in place now to reduce your electrical bill that will last for years.
Finally, many states have a variety ofl incentives in place, including tax credits, rebates, and even buy-back or cash reimbursements when you have negative energy usage (that is, you produced more energy than you consumed, and have added power to the state's power grid).
With this in mind everybody wins; you win by saving money and reducing our dependence on foreign oil; the businesses win by producing and selling green products and the economy wins by helping to keep people employed.
Michael
About the Author
Michael Edwards has more than one interesting article- checkout his going green
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