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The linking of non-computer devices is not a new idea, as it has been floating around for years, but many companies are starting to adapt it on a more widespread basis due to a decline in sensor prices, new advances in wireless network technology, and the rise of cloud computing platforms. With such interconnectivity it is undeniable that one of the most beneficial uses of this technology is for facility maintenance and determining energy usage, which leads to an Energy Tax Incentive, a perk that IoT Energy can help you manage.
The “Internet of Things” brought to you by IoT Energy’s products offers a variety of infinite potential, with illustrations including everything from sensors in cars reporting performance data, to water monitors detecting illegal dumping into sewage systems, and even wind sensors detecting data from turbines to achieve accurate forecasts of output. The application possibilities are truly limitless!
An access to big data and real-time information gives building supervisors additional control over how energy is used in addition to keeping them alert to any equipment problems. Potential devices that can be connected to increase efficiency include: lighting, security, thermostats, daylight sensors, meters, air-quality sensors, and mechanical systems, all of which IoT Energy can immediately provide.
The flourishing of this fully connected world presents an exceptional opportunity for innovation. Throughout the nation businesses of all types and sizes are engaged in making the IoT a reality. Therefore, IoT Energy with its Energy Tax Incentive service provides excellent service in managing the tax credit opportunity available for companies engaged in IoT-related R&D activities. While tax laws and exemptions vary in every country, below is the Federal Law of the United States of America regarding Energy Tax Incentives.
The Research & Development Tax Credit
Decreed in 1981, the Federal Research and Development (R&D) Tax Credit allows a credit of up to 13 percent of eligible spending for new and improved products and processes. Qualified research must meet the following four criteria:
- New or improved products, processes, or software
- Technological in nature
- Elimination of uncertainty
- Process of experimentation
IoT Energy’s Energy Tax Incentive: A Tax Credit Opportunity
The solutions and devices provided by IoT Energy Internet of Things is a key to a new era of modern technology. New products, novel business models, improved processes, and innovative interactions are bound to emerge. Companies engaged in any type of IoT related innovation may qualify for significant federal R&D tax credits which often represent significant savings in energy cost and consumption. The Energy Tax Incentive is not merely cost-effective, it is also a hope for the dwindling energy supply, as its intended result is massive energy conservation.