Puerto Rico
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Puerto Rico Moves into Solar Power Production
In effort to reduce the reliance on fossil fuels for power generation, Puerto Rico announced new legislation in August 2008. Act 248 provides the corporate tax payer with a credit for which can be used to acquire and install solar electric equipment such as solar panels. As a special introductory incentive, the credit for the [...]
Sales Tax Waived on Solar Power Products in Puerto Rico
Puerto Rico has introduced 100% sales tax exemption on solar power products. Both solar thermal and photovoltaic products are covered under the new laws. The sales tax exemption covers residential solar power as well as commercial solar power. In order to be eligible for the exemption, products must carry a minimum 5 year warranty. The [...]
Renewable Energy Sources Tax Credits Announced in Puerto Rico
In order to assist and promote the growth and use of renewable energy, Puerto Rico has recently passed “The Economic Incentives for the Development of Puerto Rico Act (EIA)” This legislation provides a wide range of tax credits and incentives that enable local and foreign companies dedicated to renewable energy to operate within Puerto Rico [...]
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