One of the most frequent questions I hear at Green Products is, “How do we pay for the new green technology?” It may not be as hard as you think! Let’s break it down into some of the incentives offered to you.

One of the major downturns in the economy has been reduced consumer and small business spending on green products, causing loss of jobs and closure of businesses in the sector. The smart business are investing in new product development and reducing the cost of current products. This means a cost savings to you when buying alternative energy products.

Another opportunity is the new American Recovery and Re-investment Act of 2009. Renewable energy and the development of alternative energy products were given a big boost by removing “cost caps” from the 2008 alternative energy tax credit and green products.

With this new law in effect you can realize a 30% tax credit when you install an alternative energy source in your home or business. If you own a small business, you also have an option to get cash in the form of cash grants instead of the tax credit.

One of the great things about all this is the money that you will save for years after your initial investment is recapture using green products. For example, solar energy is passive and requires little maintenance unless you use a battery store (then all you have to do is schedule the replacement of batteries every five years).

At last count, 30+ states offer tax incentives, rebates and cash-back programs. The cash back programs require the utilities to reimburse you when you generate more electricity than you use.

With this in mind everybody wins; you win by saving money and reducing our dependence on foreign oil; the businesses win by producing and selling green products and the economy wins by helping to keep people employed.

Michael

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