Energy Tax Credits & Programs
Interested in pursuing environmentally-friendly initiatives at your business, but worried about the cost? Going green doesn’t need to mean your account will be in the red. In addition to the savings to your energy bill, the City, County, State & our partners offer a number of programs to encourage sustainable initiatives.
Below we highlight some of the major incentives to keep in mind as you consider your next project:
THE CITY OF FREDERICK
- High Performance Building Tax Credit
COMMERCIAL PROPERTY ASSESSED CLEAN ENERGY LOANS (C-PACE)
C-PACE is a government policy based on the principle that commercial energy projects – such as installing solar equipment or improving a building’s heat recovery system – are public benefits like sewers, roads, and bridges. C-PACE authorizes counties to work with private capital providers to provide upfront financing to commercial property owners for qualifying improvement projects, and to collect the repayment through annual or semi-annual surcharges on the property’s tax bill.
Eligibility: installation of solar, geothermal or wind energy systems, water conservation devices not required by law OR any construction, renovation, or retrofitting to reduce energy consumption
Benefits: 100% up front capital to commercial property owners for approved projects; the loan is repaid through a long-term surcharge on the property tax bill that transfers with the sale of the property
MARYLAND ENERGY ADMINISTRATION PROGRAMS
The State of Maryland offers a large range of grants, loans, and tax credits for businesses undertaking a wide range of energy-saving initiatives.
View the programs here: MD State Energy Incentives
In addition to the programs in the above link, the MEA is working with Marylanders to expand the State’s growing electric vehicle recharging infrastructure. Through the Electric Vehicle Supply Equipment (EVSE) Rebate Program 2.0 residents, governments, and businesses can acquire a rebate for purchasing or installing an electric vehicle charging station. In order to receive these rebates, eligible participants must apply with MEA, which will issue rebates on a first-come, first-served basis. Applications must be received by the MEA within 6 months of when the expenses were incurred.
EMPOWER MARYLAND & POTOMAC EDISON’S ENERGY SOLUTIONS FOR BUSINESS PROGRAM
EmPower Maryland is an energy efficiency act that was enacted in 2008 by Maryland’s General Assembly. Through the Act, Maryland’s five major electric utilities were designated to administer programs to encourage their customers to save both energy & money.
Commercial and Industrial customers of Potomac Edison in Maryland are eligible for Energy Solutions for Business incentives, including those listed below. Incentives are available until Dec. 31, 2020 or until funds are fully committed.
Custom Projects for work that may fall outside those named above
More information on Potomac Edison’s energy-saving incentives can be found here.