Cease-Fire in U.S. Agencies’ Feud Clears Path for Commercial Ocean Wave Energy

As the Obama team focuses on renewable energy projects, more money is designated for the seas

Summerville, SC (PRWEB) April 19, 2009 – Earlier in the month, a longstanding disagreement between Interior Secretary Ken Salazar and the chairman of the Federal Energy Regulatory Commission, John Wellington, settled a longstanding dispute regarding regulations and responsibilities surrounding renewable energy projects on the Outer Continental Shelf.

As part of the Memorandum of Understanding, development of ocean wave energy is now possible. Prior to the agreement there was a misunderstanding as to which agency would govern this technology. The agreement gives the Federal Energy Regulatory Commission this responsibility.

Interest in ocean wave energy and other sea-based energy options is growing because of the vast size of the ocean. Waves are constantly in motion, and in theory this motion can be converted into a continuous energy source.

Perfecting the technology necessary to convert wave energy into electricity would lessen the country’s dependence on foreign sources of energy, which cannot be controlled. It also creates jobs, as the technology is being developed and put into use within the United States. Like all renewable resources, ocean wave energy does not have as much of a negative impact on the environment. It creates no carbon emissions or dangerous waste products.

Ocean wave energy is not a new consideration as an alternative energy source. In fact, scientists have been trying to harness ocean waves since the 1890s, but past technologies struggled to overcome the many challenges faced on the sea.

The large amount of material needed to create the structures in wave energy converters is one drawback to this technology. Corrosion is another battle that scientists must overcome, as saltwater is highly corrosive. Underwater components tend to attract barnacles, which hinder their operation. The devices must be strong enough to withstand the strong storms that occur at sea. Researchers are also looking into more effective ways to transport the energy to shore where it can be used.

As a result of this new agreement, renewable energy company, Inerjy has received the green light to continue research into wave energy converters, which are devices that can take the nearly perpetual energy in ocean waves and convert it into usable electricity. This is a strategic move, because new technologies must be developed in order to overcome the problems associated with this renewable energy source.

Inerjy is working to perfect a new technology known as WaveTork, which overcomes many of these challenges. Not only does WaveTork have the potential to provide a renewable energy source, but it also appears to be able an affordable option.

Jamie Schlinkman of Inerjy stated, “We believe under $4/watt capacity is achievable initially on a commercial scale and ultimately that the technology will compete with on-shore wind.” Inerjy is in the process of attaining a patent for the WaveTork technology, and once that is secured, the company will release more information about the technology.

New Understanding of Tax Credits Make It Easier for Businesses to Conform to the Americans with Disability Act Standards

Small Business Tax credit available for those conforming to ADA Standards

The disabled access credit rewards businesses for conforming to ADA requirements

Summerville, SC (PRWEB) April 20, 2009 – The Americans with Disabilities Act (ADA) has created quite a stir among small business owners. In order to comply with the ADA, they must purchase expensive equipment or make costly changes to their business locations, requiring money that many do not have due to the current economic state. A tax credit for these purchases is available, but lack of understanding has caused many business owners to resist claiming it.

One confusion surrounding this credit is the fact that the IRS has not yet issued rules or regulations regarding it. The credit is available, but many business owners are unsure about whether or not their purchases qualify.

The Internal Revenue Service, in an attempt to clear up some of the confusion about which products and purchases qualify for tax credit, recently issued a Technical Advice Memorandum. In this document, the IRS states that any purchases that qualify for a tax credit, known as the Disabled Access Credit, must have been made for the primary goal of assisting handicapped individuals.

Specifically, Code Section 44 of the ADA allows certain small businesses to take an income tax credit for expenses they incurred in order to comply with the act. Businesses can claim 50 percent of all “eligible access expenditures” that are more than $250 but less than $10,250.

In order for a purchase to qualify as an eligible access expenditure, it must first be made in order to comply with ADA requirements. Second, it must be reasonably necessary to fulfill this need. This two-part test is the only way to determine whether or not a purchase qualifies, and no company or government agency is allowed to certify or guarantee that a particular product meets the provisions of the tax credit.

Small medical practices bear the brunt of the financial strain created by the ADA. Medical equipment designed for individuals with handicaps is incredibly expensive. This potential tax credit promises to make it much easier for doctors, dentists and other medical and health professionals to make their care more accessible for handicapped patients.

Haag Streit is a company that provides medical practice equipment and instruments. Many of their products have been modified help handicapped patients, specifically those bound to wheelchairs, gain access to the care they need. For instance, they offer a Chair Glide, a device that modifies an existing medical or dental chair so that it can slide back in order to accommodate those in wheelchairs. Small medical practices can purchase these products to comply with the requirements of the ADA. Under current understanding of he tax credit, the entire cost for these types of products can be applied to the Disabled Access Credit.

Dennis Berman, OPT and spokesperson for Haag Streit, commented, “I’m excited. This new memo and possible tax break could be minor ‘bailout package’ for many small practitioners who want to make every effort to help patients with physical challenges, but have been limited by recent financial stresses.”

Only a qualified tax professional can fully determine whether or not a purchase qualifies for the Disabled Access Credit, so business owners who want to take advantage of this legislation need to contact their tax professional before making any purchases.