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Tag: energy news

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The solar investment tax credit (ITC) is one of the most lucrative ways to reduce the investment costs of your solar installation, but in order to maximize this incentive, it’s important to include solar power in your 2019 planning. Follow this guide to ensure your business is able to take advantage of the ITC before it starts to ramp down.

Your business falls into one of these eligible sectors

  • Commercial
  • Industrial
  • Agricultural
  • Other sectors can take advantage indirectly

You installed eligible solar technology

There are a variety of eligible renewable energy technologies – one of them is a solar photovoltaic (solar PV) system that uses solar energy to generate electricity for your business.

Your installed solar equipment meets performance and quality standards

Professional installation by Centrica Business Solutions using highest-quality Tier 1 components will ensure you meet this criteria for the ITC.

You meet usage guidelines

In general, the original use of the system must begin with you (the taxpayer), or the system must be constructed by the taxpayer using a licensed and professional solar installer.

You own your solar energy system

Power Purchase Agreements (PPAs) and leased solar systems do not qualify. Instead, the owner of the system monetizes the ITC and passes the savings along to your business. 

You must complete IRS Tax Form 3468

When you file your yearly federal tax return, you take a dollar-for-dollar credit for what your business would have otherwise owed in taxes. If you don’t have enough tax liability to claim the entire credit in one year, you can roll over the remaining credits into future years. If you have any questions about how going solar may impact your individual tax situation, we recommend that you consult with a tax professional.

You must act now to claim the full 30%

The ITC is currently 30% of your system cost. You must begin construction of your system by December 31, 2019 to qualify for the 30%. Beginning in 2020, the ITC will ramp down:

  • 2020: 26%
  • 2021: 22%
  • 2022 onwards: 10%

News Source: https://www.renewableenergyworld.com/articles/2019/02/top-7-ways-to-make-sure-your-business-saves-money-with-solar-hint-act-now.html

TURKEY – International Energy Investments Triple

The proportion of direct international investment in the energy sector in Turkey tripled in the first five months of this year compared to the same period in 2017.

This was reported in statements collected by the Anatolia correspondent on the direct international investment of the Ministry of Industry and Technology.

The volume of international direct investment in the energy sector in Turkey during the first five months of 2018 was US $ 649 million, compared to US $ 202 million in the same period of 2017.

International direct investment in Turkey reached US $ 2.1 billion between January and May 2018.

According to data, direct international investment in the energy sector accounted for nearly a third of international investment in the whole of Turkey.

Manufacturing ranked second with $ 416 million, followed by $ 347 million, according to data.

In view of the distribution of international direct investments by country, 64.3 percent of the cash capital flowing to Turkey during the current year was from the European Union (EU) for about $ 1.4 billion, followed by Asia with $ 406 million and the United States by $ 175 million , And $ 172 million from the rest of Europe

For more details,visit the source of news


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