Sustainability is becoming an increasingly important factor in our daily lives. By incorporating sustainable practices into various aspects of your small business, you are promoting a cleaner environment, saving money, and increasing your bottom line. The New York State Energy Research & Development Authority (NYSERDA) and US federal government also offer tax credits and incentives, further benefitting your business.
Cutting Business Energy Costs for a Greener Future
Though much of the Inflation Reduction Act (IRA) focuses on consumer savings, the legislation also lowers the cost for businesses to invest in clean energy and energy efficiency.
The IRA helps small businesses, multifamily housing developers, and commercial entities get the latest clean energy technologies and equipment that will save energy for years to come. The financial benefits of the IRA can be enhanced with New York State incentives and programs, helping New York businesses use less energy, save more money, and contribute to a cleaner, healthier planet.
Go Solar and Qualify for IRA Tax Credits
New York State’s Solar Program (NY-Sun) provides financing and incentives to small businesses switching to solar energy.
Incentives
NY-Sun works with solar contractors and developers to offset the cost of purchasing and installing a solar panel system for your business. The incentives provided vary throughout the State.
Financing Options
In addition to offering incentives, NY-Sun partners with private-sector financial institutions to offer loans for small and large businesses, as well as not-for-profit organizations. We offer three options for loans: small business/not-for-profit On-Bill Recovery loans, small commercial participation loans, and large commercial/industrial loans (via Energy Improvement Corporation (EIC).
Saving Money With High-Efficiency Lighting Solutions Lighting
Upgrading lighting is one of the easiest, affordable, and most high-impact ways to save energy in your business. High-efficiency lights (such as LEDs) use less energy, cost less to operate, and can last up to 25 times longer than conventional lighting options (such as incandescents, fluorescents, and halogens). By simply switching to LED products, you can reduce lighting-related energy costs by as much as 90 percent.
Efficient lighting can qualify for Inflation Reduction Act tax credits if completed as part of a larger retrofit or new construction project that reduces a commercial building’s energy use by 50% or more in comparison to a building meeting minimum requirements set by ASHRAE Standard 90.1.
How You Benefit
- Lower operating costs through reduced electricity bills
- Reduce maintenance time and costs – high-efficiency lighting has a longer life span
- Improve employee productivity and customer comfort with well-lit spaces
- Create a safe environment with reliable indoor and outdoor lighting
- Enhance showcasing of retail products with improved aesthetics
When You Should Consider It
Lighting upgrades and controls may be good for your business if you are:
- Looking for easy, cost-effective ways to increase your energy performance
- Spending significant time replacing burned-out light bulbs
- Undergoing a renovation or new construction project
- Trying to obtain or improve a green building certification for your building
