Friday, March 5, 2010

Going Green- U.S. Tax Incentives

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As if significant savings on electricity bills weren't enough, IT managers have another reason to embrace environmentally friendly IT practices: a bevy of federal, state and local tax incentives that could tip the scales to make green IT projects financially attractive.

However, companies have been slow to take advantage of the available incentives, essentially leaving money on the table. One reason is that many tax incentives are for solar energy, which is still expensive. Another reason is that CIOs -- who don't often talk with tax experts -- may not be aware of what's available.

Among the federal tax incentives is the Energy-Efficient Commercial Buildings Tax Deduction, part of the Energy Policy Act of 2005. (Subsequent legislation extended this deduction through 2013.)

Companies can claim a tax deduction of $1.80 per square foot on new or existing buildings by installing interior lighting, heating, cooling, ventilation or hot water systems that reduce a building's total energy and power costs by 50% or more.

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