NEW ENERGY MAKES MONEY

Going Green: Economy makes alternative energy more attractive
Michael Oppermann, February 28, 2009 (Ocala Business Journal)

"Rising energy costs and a struggling economy have led to renewed interest among business owners in exploring alternative sources of electricity and increasing energy efficiency. Pursuing a green energy policy involves an array of choices ranging from the activities of large electric companies to the use of on-site equipment designed to limit energy consumption…

"While utility companies struggle to find new ways to generate electricity and politicians pave the way for these technologies to be adopted, businesspeople and the general public are seeking ways to reduce their electric consumption and lower their utility bills…[I]nsulated building materials and Energy Star products offers an easy place to start saving money, but additional savings can also be found through a variety of solar products…"

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"Installing commercial-grade photovoltaic, or PV, systems may cost in excess of $200,000, but the expense is offset through a state program providing up to $100,000 cash back and a federal program providing a 30 percent tax credit.

"Most utility companies also engage in net-metering, which involves buying electricity from customers whose systems produce more electricity than they use…[O]nce you account for savings through state and federal programs, PV systems can be seen as investments with an expected 15 percent yearly return…

"PV systems are also subject to depreciation, providing business owners 100 percent write-offs over the course of five years. Businesses or members of the general public unwilling to take the plunge with full fledged PV systems can still benefit from solar power through the purchase of solar hot water systems, which cost roughly $6,500 before federal and state rebates or the additional rebates offered by many electric utilities."

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"Although incentive programs to make PV and solar hot water systems more desirable have been around for years, public interest in the technologies remained tepid until the tax-break carrot was paired with the utility-rate-increase stick…

"Another energy-saving solar technology is the use of natural lighting, which brightens rooms without electricity…Solatube daylighting systems… combines light collecting rooftop domes with reflective tubes and interior fixtures that diffuse sunlight throughout the room…[M]ost builders no longer install traditional skylights because they faded building interiors, were prone to leaks and ruined energy efficiency ratings…[C]lients buy the product for aesthetics rather than cost-consciousness…[but] savings can begin immediately with a federal tax credit of up to $200 dollars on each installation…"