August 8, 2023

2023 Great Electrical Rebates You Need to Know

Businesses need energy to operate. You might as well get any available electrical rebates to help with the cost. Water, gas, energy and other resource rebates are offered as an incentive to improve the overall impact your business has on the community.

Electrical rebate programs provide incentives for businesses investing in energy-efficient products and technologies such as LED lighting.

The savings from rebates and other incentives can vary greatly depending on the type of product or technology being used, but they typically equate to anywhere from 10-50% off the initial cost.

Additionally, some utilities offer financial assistance with installation costs or even free replacement bulbs.

Huge changes can be daunting, so start with something small and simple. Using LED lightbulbs instead of ones that consume more energy and don’t last as long can be a first step to big savings on your energy bill.

Not only do LED bulbs use less electricity, but LED light bulbs last longer and the difference is reflected on your energy bill. Electrical rebates will ensure some of that money comes back.

Many business owners are unaware of the savings available to them through electrical rebates and high efficiency electrical updates.

By taking advantage of these opportunities, businesses can save a significant amount on their energy bills and make their operations more efficient. With the right incentives in place, businesses can lower their electricity bills by up to 20%.

Electrical rebates offer several advantages to commercial businesses. First, they help reduce operating costs for businesses by providing financial assistance with the purchase and installation of energy-efficient equipment.

The cost savings make it easier for businesses to invest in new technologies that can further improve efficiency while also reducing their environmental impact. In addition, electrical rebates may be available from local governments and utilities, which can provide additional financial incentives to businesses that invest in green energy.

Currently Available Electrical Rebates

In 2023, there are a variety of electrical rebates available for commercial businesses. These include:

  • Energy efficiency rebates: which reward businesses that invest in energy-efficient equipment or technologies.
  • Renewable energy rebates: which encourage the use of green technology; and smart grid incentives, which provide financial rewards for deploying advanced metering infrastructure and other technologies to improve the efficiency of delivery.
  • Some states offer tax credits or exemptions for certain types of activities related to electricity conservation.

By researching and taking advantage of these rebates, commercial businesses can save money while also contributing to a more sustainable future.

In addition to these financial incentives, businesses should also consider other measures to reduce their energy consumption. Some of these include:

  • investing in energy-efficient lighting systems
  • improving insulation
  • using motion sensors to regulate heating or cooling systems.
  • solar panels, wind turbines, or even geothermal systems (where applicable).

Taking proactive steps towards reducing energy consumption can help businesses not only save money but also make a significant contribution towards fighting climate change. For more energy rebate programs, visit Energy Star’s website. Rubicon’s electrical services make it easy to take advantage of available rebates.

Finally, businesses may be able to apply for tax credits or deductions for their investments in energy-efficient equipment when they use electrical rebates. These advantages make it easier for commercial businesses to reduce their operating costs while also helping the environment.

Companies can save anywhere from $500-$2,000 or more when adjustments are made to shift to a greener focused, and high-efficiency base of products that conserve energy and save money on company utility bills.

Electrical Rebates as Part of a White House Initiative

To push forward with the green initiative, the White House granted billions of dollars towards rebates to push companies into green alternatives. While green technology is far from perfect, there is an ever-growing concern for conservation of resources and the choice to adopt more conservational and green business practices is becoming more widespread.

Especially with these rebate options and the time limit to grab as many tax saving incentives as possible. The rebates have a phase-out date in the year 2033.

The Inflation Reduction Act (IRA) of 2022 allows for 30% of the expenses to be covered while mid transition, but for small-business owners there could be some significant tax breaks by following a program for energy efficiency upgrades including solar panels, better insulation, and high-efficiency HVAC systems.

Rubicon Will Help with Your Commercial Electrical Service Needs

Business owners who take the time to research electrical rebates and high-efficiency electrical updates have the opportunity to save a substantial amount on their electricity bills.

With the right incentives in place, businesses could see cost savings of up to 20%. It is important for business owners to do their research so they can take advantage of these opportunities and maximize their return on investment.

Rubicon offers a diverse range of electrical services, from installation and maintenance to energy audits and can help meet the criteria to obtain electrical and conservation rebates. Our team are experts in all aspects of commercial electrical work, from lighting installations to retrofitting existing buildings with modern energy-saving solutions.

We also offer specialized services like electric vehicle charging port installation. Did you know that there are special tax reductions and benefits that you can take advantage of since 2022? Or, did you know that the incentive to get a public EV charging port on your property has drastically increased?

Originally the IRA 2022 bill gave you 30% of a rebate that would return the cost of the EV charger and installation and was limited to $30,000. However, if the commercial public EV charging station was completed after 2022 the tax credit per property item increased to $100,000 per EV charger?

This should give you more incentive than ever before to get one installed. Check with your local state policies to make sure and get Rubicon’s electrical team to help install it.

The Rocky Mountain Power company has multiple selections to choose from for the states they cover, but 75% coverage of charger. If you choose to go with the DC fast charger, they’ll cover the installation cost to cap up to 75%.

Rubicon's electrical team can help provide the energy-efficient solutions you'll need to qualify for these electrical rebates and tax incentives.

Some of those energy-efficient solutions could be replacing fluorescent bulbs with LEDs, installing motion sensors, updating a circuit breaker, rewiring an older building with newer or better-quality materials, updating the electrical source for a high-efficient air conditioning unit, and much more.

Let the Rubicon experts audit your business, and suggest effective updates that could make it more efficient and discuss with them what rebates or tax incentives might be achievable.

You’ll enjoy the pathway to sustainable business practices, and be happier with a lower monthly utility bill.

We strive to make sure that all our customers receive reliable and efficient services at an affordable price. Contact Rubicon today to learn more about our full range of electrical services.