Energy Efficiency Incentive Programs
For more information about these incentives please call Tim Bickel at 937-492-6166.
Energy Policy Act of 2005 (EPAct)
The Energy Policy Act of 2005 (commonly known as EPAct) allows a tax deduction to be taken by building owners or system designers for upgrading entire building systems to energy efficient standards. As lighting is by far the largest energy consumption for most businesses, special provisions were included to allow a tax deduction to be taken for upgrading lighting separately. This provision drastically reduced the upfront cost for many businesses that would otherwise be unable to meet the requirements for the full building upgrade.
Initially set to end in 2008, the program has been extended and is currently in effect for systems that meet exacting requirements and are placed in service prior to the end of 2012. At the time of the extension, provisions were included for companies to take a "free ride" for energy efficient lighting installed after July 1, 2006, but, for some reason, did not/have not taken the tax deduction
The State of Ohio has taken a stance for renewable energy and energy efficient buildings. SB 221 was signed into Ohio law on May 1, 2008 covering a variety of conservation, sustainability, and energy efficiency mandates. Two of the major points were that Ohio must not only reduce its traditional energy consumption by 22%, but also that 25% of the energy generated in Ohio by 2025 must be from advanced and renewable sources.
Of course, this holds the potential to be a very expensive standard to meet and Ohio law makers fully understand the need to support researchers and businesses working toward achieveing this goal. A variety of grants are available for renewable energy projects and energy efficient building upgrades. Please be aware that in most cases no work can be started prior to the grant approval.
In an effort to meet the requirements of Ohio SB 221, Ohio electric companies must reduce the energy consumed in their service area. Commercial buildings are by far the largest energy consumer, therefore, the utilities are offering incentives in the way of rebates for upgrading facility systems to new, energy-efficient technologies. Rebates are avaialable for lighting, motors and drives, HVAC, and several other systems. Custom rebate applications are also accepted for energy management not covered by one of the standard rebate systems.