Financial incentives for renewable energy

I was meandering through websites, looking for the latest news on renewable portfolio information, and I stumbled upon some information from DSIRE (Database of State Incentives for Renewables & Efficiency) that I found interesting. DSIRE is a DoE backed website offering information, by state, on the various renewable energy policies and incentives throughout the U.S. What I found particularly interesting was the listing of financial incentives for renewable energy.

A lot of hype can be found around the web on renewable energy implementation, the extra costs associated with such implementation, and opinion on how to proceed with our nations energy portfolio. Unfortunately, much of the hype has to do with the increased expenses to residential and commercial consumers. Not enough is said about the financial benefits of renewable energy implementation.

If we look through the listing I’ve referenced above from DSIRE, we could select any number of states and find economic incentives for renewable energy, but I’ll take a look at Ohio since it’s my home state. Ohio currently offers incentives or rebates for renewable energy in the form of corporate tax breaks, sales tax breaks, property tax brakes, utility rebates, state grants, and government supported loans. I don’t mean to evangelize government subsidies, but it’s important for consumers to realize the available opportunities. As I looked deeper at the corporate tax breaks provided on clean energy investment in Ohio, I realized this truly is a great opportunity. Ohio is currently offering a 100% property tax exemption for commercial or industrial implementation of solar, wind, biomass, and/or municipal waste energy production technologies. Furthermore, a 100% sales tax exemption is available on the same items. These tax breaks combined with the 1978 PURPA act, which stipulates utilities must purchase energy produced from clean energy sources such as solar and wind, make a great opportunity for investment in Ohio and no doubt in a number of other states throughout the country. Take a look, see what your local government is doing to stimulate renewable energy growth, maybe you can take advantage of these opportunities.