All renewable energy installations in Puerto Rico can benefit from an existing 50% Tax Credit. This Tax Credit is offered by the local "State" government and the credits given are transferable. These Tax Credits, at present are in force until the end of fiscal year 2010-2011.
The local government has set aside $15 million dollars for the funding of this program. There is also a disposition that, if the tax credits that were to be offered on the previous fiscal year were not exhausted, then the treasury department can carry over up to $10 M toward the next fiscal year. In such case the allowable moneys toward tax credits could be as high as $25 million dollars
In order to secure any tax credit from the treasury department. the Owner Generator must make a formal request before any construction begins (an Energy Consultant is a must have in this process). Upon receiving the "agreement-commitment" from the treasury department, then the planned system must be built within the allocated time as indicated in the terms of the executed document.
After the construction is complete and upon receiving the endorsement of the regulating entities (there are several agencies involved), then the applicable Tax Credits can be claimed.
At the present time, the best option is the State Energy Program (SEP). The SEP program is not a Grant but a Rebate program.
This program also covers the financing of a wide variety of energy savings programs as well (e.g., lighting systems retrofit, installation of occupancy sensors, etc).
If the Owner/Generator complies with the dispositions of the published guidelines and regulations, then local government will provide (from the federal funds assigned to this program) 50% of the approved costs up to $200,000 (i.e., for a total project cost of $400,000)
Some of the windows of opportunity for Grants have already passed but it is expected that more will be offered in the next federal fiscal year. Other Grants, which consist of “discretionary funds” may be advertized at any time. When they are advertized as available, the reaction time allowed in order for submitting the required documentation is usually 90 days. This means that any person or legal institution interested in them must commence their “homework” with plenty of lead time (again the Energy Consultant is an important key in this process)
Many of the Grants allow the recipient to participate in other Grants as well. Thus receiving a Grant does not disqualify an entity from being awarded other Grants, or Rebates even from the same agency. At this time there are still some Grants available for a wide variety of Energy Savings initiatives’. Not necessarily from the Department of Energy (DOE, but from other departments as well (especially the Health Department).
The Energy Savings initiatives cover many other aspects of Energy Savings (i.e. not only for electrical or mechanical Installations). Many include the entire building envelope, inside, outside, site and off-site improvements which will result in saving energy.
The Grants cover from Household level, Commercial Installations, Industrial Installations, Municipalities, for-Profit and Not-for Profit Organizations, Heath Care Providers and Health Care Institutions of all sizes, Educational Institutions, Universities Faith Based Organizations etc.
If you would like help on this subject contact us at:email@example.com
There are some lending institutions that are now receptive and even aggressively seeking “qualified” renewable energy projects in order to finance the same. There are specific constraints, but they are salvageable. We maintain a close relationship with them as new possible projects might arise.
We provide all consulting work that may be required to any User/Generator in order to help them realize their planned projects. These services cover all financing options mentioned above
Many institutions and/or companies are not aware that they may qualify for any type of help. It would be a shame to let any of these Grants or Rebates go unclaimed or being granted to others who might not be the best qualified for them.
Let us assist you and your organization in identifying available programs, Grants, Funding, Submission of Proposals, etc. This is really a win-win situation for all who qualify. Most are one time allocations which will (most probably) not be repeated. Please contact us for more information.
Time is of essence, all Grants or Rebate programs have time constraints and due dates for submitting applications. We can help any company or institution secure funding from any such programs.
For help in the funding of your energy project, please contact us at: firstname.lastname@example.org
We can also provide all construction project management services that may be required To this purpose and service we have the capabilities to build any project.
In order help you or your company build any project of any size. We are associated with Capital PM Group and have extensive experience in his field. Check out the construction management section in this website for more information, or click HERE.