Apart from TXU partnering with various solar companies to lease solar panel systems to homeowners, Texas provides other incentives for businesses and homeowners involved in renewable energy technologies.
Texas incentives allow for companies and other organization subject to their franchise tax to deduct 10% of the total cost of a solar energy system from the franchise tax.
Another of Texas' solar incentives includes corporations involved in the manufacturing, selling, and installation of solar energy devices to be exempt from the state franchise tax.
This exemption is significantly beneficial to manufacturers as there is no ceiling on the exemption.
According to Texas' solar incentives program, the franchise tax is equivalent to the corporate tax.
A solar energy device is defined as a system or series of mechanisms designed primarily to provide heating or cooling or to produce electrical or mechanical power by collecting and transferring solar-generated energy.
The term includes a mechanical or chemical device that has the ability to store solar-generated energy for use in heating or cooling or in the production of power.
Wind energy technologies are also eligible for the franchise tax deduction and exemption.
Texas incentives also allow for the property tax exemption of the appraised value of a property as a result of any installation or construction of either a solar or wind-powered energy device meant to produce and distribute thermal, mechanical, or electrical energy for on-site use or for a device that is used to store that energy.
To apply for this incentive, one must fill Form 50-123, "Exemption Application for Solar or Wind-powered Energy Devices".
With states like Texas offering great solar rebates and incentives, it is time for the federal government to strongly encourage the use of renewable energy.
In his national address on Tuesday, the President declared one of his next goals is to push clean energy in the United States.
This is in response to the catastrophic oil spill in the Gulf of Mexico and the fact that the United States is spending billions every year on foreign energy.
The President want more of our consumed energy to come from national, clean energy sources.
Texas incentives allow for companies and other organization subject to their franchise tax to deduct 10% of the total cost of a solar energy system from the franchise tax.
Another of Texas' solar incentives includes corporations involved in the manufacturing, selling, and installation of solar energy devices to be exempt from the state franchise tax.
This exemption is significantly beneficial to manufacturers as there is no ceiling on the exemption.
According to Texas' solar incentives program, the franchise tax is equivalent to the corporate tax.
A solar energy device is defined as a system or series of mechanisms designed primarily to provide heating or cooling or to produce electrical or mechanical power by collecting and transferring solar-generated energy.
The term includes a mechanical or chemical device that has the ability to store solar-generated energy for use in heating or cooling or in the production of power.
Wind energy technologies are also eligible for the franchise tax deduction and exemption.
Texas incentives also allow for the property tax exemption of the appraised value of a property as a result of any installation or construction of either a solar or wind-powered energy device meant to produce and distribute thermal, mechanical, or electrical energy for on-site use or for a device that is used to store that energy.
To apply for this incentive, one must fill Form 50-123, "Exemption Application for Solar or Wind-powered Energy Devices".
With states like Texas offering great solar rebates and incentives, it is time for the federal government to strongly encourage the use of renewable energy.
In his national address on Tuesday, the President declared one of his next goals is to push clean energy in the United States.
This is in response to the catastrophic oil spill in the Gulf of Mexico and the fact that the United States is spending billions every year on foreign energy.
The President want more of our consumed energy to come from national, clean energy sources.
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