EDEN PRAIRIE, MN - GE Capital Fleet Services announced its Hybrid and Alternative Fuel Vehicles Rebate Program processed more than $2.5 million in rebates for customers in 2009. GE Capital Fleet Services is the only fleet management company to offer a tax-rebate program recognizing customers for taking steps to green company vehicles.
"Our goal with this program is to enable customers to more easily realize the benefits of their green investments," said John Whyte, Environmental Performance product manager, for GE Capital Fleet Services. "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."
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.
The program processes a rebate back to customers with hybrid or alternative fuel fleets in a simple, straightforward manner. 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 approved more than $10 million in rebates since the program's inception in 2007.