Heads up Illinois Greenies! Take note of incentives for T12 lamp replacements; they’ll only be decreasing from here!
The Act On Energy business program is announcing the first ramp-down of the 15% bonus that is offered on top of the current incentive for the replacement of T12 lamps. The 15% bonus for T12 replacement will remain in effect for all eligible applications submitted through December 31, 2010. After that date, the bonus incentive amount will be reduced to 10%. Therefore, you have just over three months to submit an application to guarantee the best incentive Act On Energy will EVER offer for replacing their T12 lamps.
It’s important to understand that the project does not have to be approved or completed by December 31, 2010 to be eligible for the current 15% bonus – the application just needs to be submitted before January 1, 2011 and the project completed within 90 days of your pre-approval date. The program is intended to provide the best incentives for replacing T12 lamps if you act now! As we move closer to July 2012 (the date when T12 production will be phased-out), the bonus incentive amount will only decrease. Once an incentive or bonus is reduced, the new bonus amount becomes a “ceiling” for the incentive amount, meaning the bonus will never be higher than the current offer. The incentive and bonus amount their project has been approved for will be the best incentive you can get for the remainder of the T12 program.
With the incentives decreasing in the near future and the inherent cost of waiting by delaying replacement of antiquated equipment, it’s in your best financial interest to submit you applications now.