Energy Incentives in Ipswich, MA - Society - EzineMark

Implementing energy saving measures in homes and businesses has gained popularity in recent years, but did your realize that there are Ipswich, MA energy incentives that can save you money while you also help the environment? There are more energy incentives than you may realize that are especially helpful for any local business or residence.

In Massachusetts, businesses may deduct expenditures paid or incurred from the installation of any solar or wind powered climate controlled units, any solar or wind powered water hearing unit or any other unit operating system powered by solar or wind from your net income. Applications may include solar water heat, solar space heat, solar thermal process heat and wind power. The installation must take place in the state and the product must be used exclusively for business, but you can recoup some your environmental investment while taking part in Ipswich, MA energy incentives.

Also, a system or unit that qualifies for this energy incentive will not be taxed under the tangible property measure of the state's corporate excise tax, and the exemption is effective for the length of the equipment's depreciation period.

Any excess credit amount may be carried over to the next one to three years.

Ipswich, MA energy incentives also apply to residential properties. The state of Massachusetts allows a 15 percent credit up to $1,000 for state income tax for the expense of a renewable energy system and installation costs. The system must be installed at your primary residence to receive the credit, and eligible systems include solar water and space heating, photovoltaic units (PV) and wind-energy systems.

If the credit exceeds your income tax liability, the remaining credit amount can be carried over to the next year or up to three years. The installed systems must be new and in compliance with Massachusetts performance and safety standards, and must be reasonably expected to remain in operation for at least five years.

Any homeowner or tenant of a local residential property is eligible to receive Ipswich, MA energy incentives, but for new homes, the credit is available to the original owner or occupant. If a property has multiple owners, the credit will be shared.

Whether you are a homeowner or business owner, receiving Ipswich, MA energy incentives is easy. Not only will you have the satisfaction of installing and using a renewable energy source that will help the environment, but you can also save some money with tax exemptions.

Source: http://society.ezinemark.com/energy-incentives-in-ipswich-ma-7d33d6d3c330.html

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