Solar Energy Development

There are investment tax credits which solely benefit the solar industry. Legislation which was signed into law in 2008 contains a number of tax incentives which are designed to encourage investors and businesses to make investments in solar energy. The bill includes Business Solar Investment Tax Credits and New Clean Renewable Energy Bonds, Extension of Energy-Efficient Buildings Deduction, Qualified Energy Conservation Bonds, and Research and Development Tax Credit.

New clean renewable energy bonds can be used to finance facilities that generate electricity from renewable resources. This includes solar, wind, biomass, geothermal, small irrigation, qualified hydropower, landfill gas, marine renewable, and trash combustion. The Extension of the Energy-Efficient Buildings Deduction (Internal Revenue Code Section 179D) allows taxpayers to deduct the cost of energy-efficient equipment they install in their commercial buildings, including interior lighting systems, heating, cooling, ventilation, and hot water systems through 2013.

Cherrytree is an innovative real estate and business consulting company that advises real estate owners, developers, operators, and landlords, on Tax credits, tax deductions, grants, and reimbursements. Our advice includes identifying strategies for acquiring eligibility for these tax credits and assistance in applying as well as generating the maximum reimbursement.