Taxpayers pay for 75% ($150,000) of solar installation so car wash owner can save 40% on his electric bill.
“Nevels embarked on the projects after winning federal and state grants totaling about $100,000.
One grant came from the U.S. Department of Agriculture’s Rural Energy for America Program; the other, from the Illinois Department of Commerce and Economic Opportunity.
He also expects to get a $50,000 federal tax credit for the project. So his own investment in the approximately $200,000 project will end up being about $50,000, he said.
BWTM
As a capital asset, the car washes can start writing off the depreciation in the first year. The government gives you a valuable asset, then you get to reduce your taxes by the value over time. Neat deal.
The way the U.S. Government works now, I expect the EPA to ban car washes next year, after the government pays for additions to car washes. It’s called “green jobs.”
Who said solar can’t be competitive in the real world?
Of course, you’d have to include the political pull in the patent application. And, by the time the patent is approved, no one will be able to afford a car in a bankrupt country anyway.
TANSTAAFL