Page last updated on November 29, 2022 at 4:54 pm
This page outlines rebates and financing options available for residents interested in making their home more sustainable. Site updates will reflect changes in incentives as they occur.
Energy Efficiency Projects
The following rebates and financial incentives can be used by commercial businesses who are interested in pursuing energy efficiency upgrades for their facilities. These upgrades can include building envelope projects, EnergySmart appliance upgrades, LED conversions, HVAC upgrades, and more.
Duke Energy Rebates
As the main utility provider in Bloomington, Duke Energy provides a number of rebates for energy efficiency upgrades. Duke Energy’s Small Business Energy Saver program offers up to 80% discounts in energy efficiency upgrades for non-residential customers. Participation in the Small Business Energy Saver program is limited to organizations whose peak energy demand is 180kW or less.
Duke customers can also purchase products directly from the Duke Energy Business Savings store. Products included as part of the grant must be pre-approved prior to purchase and reimbursement.
Energy Efficiency Tax Deduction
The Energy Efficient Commercial Buildings Tax Deduction is a financial incentive ($2.50-$5.00 per square foot) for interior lighting, building envelope, or heating/cooling/ventilation system upgrades based on energy savings. Building owners should follow IRS instructions on claiming the deduction on their tax return forms.
Solar Projects
The following rebates and financial incentives can be used by commercial businesses who are interested in installing a solar system for their facilities.
Federal Investment Tax Credit
In addition to the grant funding provided by the City of Bloomington, all organizations installing solar also qualify for the federal Investment Tax Credit, which is equal to 30% of the cost of the solar installation. Tax credit payment processes vary based on tax classification, and all participating organizations should refer to the Department of Energy’s Information Guide on the Investment Tax Credit for businesses to determine their eligibility and how to apply.
Renewable Energy Property Tax Exemption
In Indiana, the Renewable Energy Property Tax Exemption allows for the assessed value of renewable energy systems to be exempt from property taxes. Learn more about how to file at: www.in.gov/dlgf/deductions-property-tax/
Indiana Sales Tax Exemption
Indiana’s sales tax exemption for electric generating equipment allows for the exemption of all sales tax associated with a solar installation on your property. To claim this tax exemption, you must provide Form ST-105 to the seller.