The Clean Air Improvement Program (CAIP) through the Ohio Air Quality Development Authority (OAQDA) is a resource for businesses of all sizes looking to invest in more energy efficient or renewable energy technologies. The financial benefits of the OAQDA-issued bonds provide applicable tax exemptions--including sales, use and property--for qualified projects. There are several project types
Did you know FirstEnergy has implemented a new incentive program this year for commercial and industrial customers looking to install LED lighting and controls in their facilities? The program is available through May 31, 2024, for both existing buildings and new construction, however, funds are very limited and will likely run out before the deadline.
The USDA Rural Energy for America Program (REAP) provides small to mid-size businesses located in rural areas with guaranteed loan financing and grant funding for renewable energy systems and energy efficiency improvements. Many Ohio counties are considered qualifying rural areas. With the passing of the Inflation Reduction Act in 2022, grant amounts increased from 25%
The Energy Loan Fund is a financing program authorized through the State of Ohio Department of Development. The fund provides low-interest financing to install efficiency measures that reduce energy by at least 15%. Current interest rates are well below commercial lending rates. The list of eligible applicants includes: Small businesses Local governments Nonprofit organizations
Client: Fuserashi International Technology, Inc. (FIT) Industry: Manufacturing Sustainability Solution(s) Implemented: LED Lighting Results after finished install: • 40,000 square foot building expansion with total building LED lighting upgrade • Annual energy cost reduction of 57.3% compared to ASHRAE Standard 90.1-2001/2007 • Immediate tax deduction of $365,983 Since 1996, Fuserashi International Technology, Inc. (FIT) has
The American Society of Heating, Refrigeration, and Air-Conditioning Engineers (ASHRAE) established 3 levels of energy audits created to improve a building’s energy efficiency, save businesses money, and help them build an energy plan to implement and maintain any energy conservation measures identified. An ASHRAE Level 1 audit consists of utility bill analysis and short building
We recently were invited to speak with local businesses about managing energy costs and energy efficiency options at Lima Allen County Chamber's Sustainability Seminar. Check out our feature on HomeTown Stations!
Energy efficiency projects can provide economic benefits in a number of different ways, such as with the help of the 179D Tax Deduction. The 179D Commercial Buildings Energy Efficiency Tax Deduction allows building owners to claim a tax deduction on eligible lighting, building envelope, or HVAC projects. Eligible projects can qualify for up to $1.80
Since 2006, the 179D tax deduction, also known as the Energy Efficient Commercial Building Deduction, has provided tax deductions up to $1.80/square foot on qualifying projects for both new construction as well as any renovations done on existing buildings. The passing of the Inflation Reduction Act (IRA) has brought some changes to 179D that present
Viridi provides simple and affordable sustainability solutions to organizations who are passionate about driving our economy’s transition to cleaner energy and a healthier planet.
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