Lauren L's List: energy

• Although this tax credit can be claimed on personal income taxes, the  building eligibility rules are such that it is not available for single-family  residential homes.  
• In 2000, New York enacted a Green Building Tax Credit for business and personal  income taxpayers. The credit can be applied against corporate taxes, personal  income, insurance corporation taxes and banking corporation taxes.
• The incentive applies to  

  owners and tenants of  eligible buildings and tenant spaces which meet certain "green" standards. These  standards increase energy efficiency, improve indoor air quality, and reduce the  environmental impacts of large commercial and residential buildings in New York  State, among other benefits
• The original 2000 legislation (Period I) allowed applicants to apply for a  Credit Component Certificate in years 2001-2004 and to claim the credits over  five years. Legislation in 2005 (Period II) extended the program, allowing  applicants to apply for a Credit Component Certificate from 2005-2009.
• Taxpayers who are issued an Initial Credit Component Certificates for Period II  have nine taxable years (2006-2014) to claim the credits. The original law  provided for $25 million in credit certificates; the 2005 legislation added  another $25 million.
• The 2005 legislation also caps incentives at $2 million per building in  aggregate. Taxpayers who received credits under Period I may not seek additional  credits for the same building for Period II.  
• Owners and tenants must work through an architect or engineer who will help  obtain a credit certificate from the state for their project. The credits are  distributed over a five year period with any unredeemed portion able to be  carried forward indefinitely or transferred to a new owner or tenant.  
  
• Projects can qualify for credits under six different program components:   
  
• • Whole Building Credit (owner or tenant), where base building and all  tenant space are green;  
     
  • Base Building Credit (owner), for non-dwelling spaces;  
     
  • Tenant Space Credit (owner or tenant), where the base building must  be green to qualify if the tenant space is under 10,000 square feet;  
     
  • Fuel Cell Credit, for systems fueled by a "qualifying alternate  energy source";  
     
  • Photovoltaic Module Credit; and  
     
  • Green Refrigerant Credit, for new air conditioning equipment using an  EPA-approved non-ozone depleting refrigerant
• The components 4, 5 and 6 above must serve green spaces. For example, to qualify  for the PV Module Credit, the building which the system serves must meet all  requirements for energy, indoor air quality, materials, water conservation and  commissioning. Credit cannot be earned by simply placing a PV system, for  example, on a building.  
  

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• Currently homeowners that produce more solar energy than they produce can zero their bills but they’re not paid for the extra energy they feed back into the grid.
• Under the new law, the California Public Utilities Commission is required to set the rate for the paybacks by Jan. 1, 2011.
• The idea aims to utilize the empty and unused lots like rooftops, water house roofs and parking areas for the purpose of producing solar energy. Aside from these there remain many unused private properties that can be easily converted into solar power generating units, bringing in extra cash for the home owners.

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• In 2008, about 57% of the petroleum consumed by the United States was imported from foreign countries.
• “Petroleum” includes crude oil and refined petroleum products like gasoline. Most (88%) of the imports were crude oil. About 66% of the crude oil processed in U.S. refineries was imported.
• In 2008, the United States consumed a total of 7.14 billion barrels of oil (refined petroleum products and biofuels), which was about 23% of total world oil consumption.

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