| Incentive Type | Provider | Savings | Qualifications | How to Get It | When to Get It |
|---|
ENERGY EFFICIENCY - FEDERAL |
Tax Credit for Energy-Efficient Appliances and Advanced Energy Equipment | Federal | Provides tax credits to product manufacturers for qualifying models of dishwashers ($45-$75), clothes washers ($75-250), and refrigerators ($50-$200). | Each manufacturer is limited to a total of $75 million for all credits under this provision. Products manufactured since 2008 that consume at least 30% less energy than the 2001 energy conservation standards will not add to the aggregate credit amount and have no separate credit limit. Residential and commercial clothes washers manufactured since 2008 that meet or exceed a 2.2 MEF and do not exceed a 4.5 WCF also will not add to the aggregate limit and have no separate credit limit. | File IRS Form 8909 with your federal tax filing. | Applies to qualifying energy efficient appliances produced after December 31, 2007. |
RENEWABLE ENERGY - FEDERAL |
Business Renewable Energy Investment Tax Credit (ITC) | Federal | Allows eligible taxpayers to receive federal renewable electricity production tax credit (PTC) for the purchase and installation of renewable energy sources. Provides a 30% credit for solar, fuel cells and small wind;
10% credit for geothermal, microturbines and CHP* | Fuel cells, microturbines and CHP systems must meet specific energy-efficiency criteria. | To apply for the tax credit, a business must complete Form 3468 | Credits are available for eligible systems placed in service on or before December 31, 2016. |
RENEWABLE ENERGY – STATE |
Green Jobs Tax Credit | State | For every green job created with a yearly salary of $50,000 or more, the company will earn a $500 income tax credit for five years. The Office of Commerce and Trade will develop a full list of jobs eligible to qualify for the tax credit. Companies will be allowed tax credits for up to 350 green jobs created. If the taxpayer does not have enough tax liability to take the full credit, it may be carried forward for up to 5 years. | "Green jobs" are defined as jobs in the manufacturing and operation of renewable or alternative energy products and technologies used to generate electricity and energy. Companies will be allowed tax credits for up to 350 green jobs created. | For more information, on the Green Jobs Tax Credit, contact the Office of the Secretary of Commerce and Trade:
P.O. Box 1475
Richmond, VA 23218
Phone: (804) 786-7831
E-Mail | Program is effective as of July 1, 2010. |
Wood, Alternative Energy, or Cogeneration Tax Exemption | State | Allows any county, city, or town to exempt or partially exempt generating equipment that is used to convert from oil or natural gas to wood, wood waste, or any alternative energy source for manufacturing, or any cogeneration equipment, from local property taxes. | Localities currently offering exemptions to business and industry: Dinwiddie, Henrico, Pulaski, and Winchester | Contact your local tax office. | Exemption currently available. |
The information below provides details on valuable federal, state and utility company incentives for manufacturers and industrial energy consumers. Be sure to check this page often for the latest information on these incentives, including eligibility, dates and most importantly, how to redeem incentives. Many federal programs are currently being considered for extensions as initial deadlines have passed and resources were overwhelmed. Please note that incentives paid through credits on your annual federal tax filings will require using 2010 forms, which have not yet been made available by the Internal Revenue Service.
