Utility rebates seem to come and go. In NE Ohio AEP Ohio Power currently has a rebate. It’s uncertain whether it will be renewed for 2017. The PUCO and FirstEnergy serving Cleveland and Akron are still undecided as to whether they’ll have a lighting incentive program for 2017. Our Texas division’s clients are very fortunate, as Houston, Dallas, Austin and San Antonio all have lucrative lighting rebates available for their customers.
As it relates to government grants, our experience shows that in order to qualify, the hoops you have to jump through and the time it takes just aren’t worth all the effort. Even if you do qualify, it could take 6-18 months before you’d actually receive any funds. After calculating the energy lost by waiting which can never be recovered, it just doesn’t make sense to waste your time. In the 300+ lighting retrofit projects I’ve handled, I haven’t had one client receive a grant from the government for their lighting upgrade.
I can tell you of your best option if you act quickly in taking advantage of the IRS EPAct accelerated tax deduction. There is a huge benefit to capturing the IRS EPAct 179d accelerated deduction before it disappears for good December 31, 2016. The IRS allows you to deduct 60 cents/psf or the entire cost of your lighting upgrade project (whichever is less) all this year as accelerated depreciation against 2016 profits. Based on combined state and federal income tax brackets in Ohio, this easily amounts to 35-38% of your EPAct deduction, coming right off what you owe the IRS this April 15th. It’s like getting a 25-38% discount just for upgrading your facility’s lighting. There are some minor restrictions which ROI Energy can familiarize you with. EPAct is generally limited to interior lighting for manufacturing plants and warehouses, which happens to be exactly where ROI Energy Solutions specializes in performing turn-key lighting upgrades for our clients.
ROI Energy, as a lighting retrofit contractor will calculate your potential tax incentive, annual energy savings, ROI and payback without cost or obligation. We can help get you certified for the IRS Section EPAct 179d accelerated deduction for performing a lighting upgrade. When completed, your company will enjoy better lighting, a significant reduction in your energy bill, a lucrative tax incentive and reduced maintenance costs, since LED fixtures are virtually maintenance free. We’ll perform your project during off shifts to eliminate disruption to your production and required a bare minimum of your valuable time.
Call or email us today at 330-931-3905 or info@ROI-Energy.com Website: www.ROI-Energy.com