Business could see credit for wind and solar

If you purchase and install a wind or solar energy system for your home, the state is bound by law to provide you with a nonrefundable tax credit. But if you do the same thing for your business or other commercial property, the only thing you’ll get is lower energy bills. The sole exception is for owners of rental apartments. However, if Rep. Franklin J. Foil, a Baton Rouge Republican, get his way during the upcoming regular session, the same tax credits would be available to the business community as a whole. His House Bill 32 would create a new commercial credit equal to 50% of the first $25,000 of the costs associated with the project, as long as it was purchased and installed on or after Jan. 1, 2008. It also stipulates that the credits can be used in conjunction with any other federal tax credits earned for the same system. If adopted by the Legislature and signed by the governor, Foil’s proposed tax credit would go on the books on Jan. 1, 2009. The regular session will convene April 27.—Jeremy Alford