GE Capital Fleet Services announced that its Hybrid and Alternative Fuel Vehicles Rebate Program processed more than $2.5 million in rebates for customers in 2009. The Energy Tax Incentives Act of 2005 reserved $875 million of the act’s $14.5 billion for advanced vehicular technology projects, such as hybrid or alternative fuel tax credits. GE’s rebate program is designed to help customers who make significant investments in new technology to improve their environmental performance secure the appropriate rebates.
“Our goal with this program is to enable customers to more easily realize the benefits of their green investments,” says John Whyte, environmental performance product manager for GE Capital Fleet Services, based in Eden Prairie, Minn. “By implementing a rebate program, we’ve streamlined the process for our customers and helped alleviate the initial cost of investment. This is just one way in which we continue to assist our customers in turning their business vehicles into strategic assets.”
Based on IRS regulations, GE Capital Fleet Services tracks eligible vehicles for its customers, calculates the hybrid or alternative fuel credit and processes the rebates. Through this program, GE Capital Fleet Services has approved more than $10 million in rebates since the program’s inception in 2007.
