PHOENIX, Ariz. — Honeywell has developed a tool to help businesses evaluate the environmental and financial potential of introducing renewable energy to a specific location.

The Renewable Energy Scorecard evaluates solar, wind, biomass and geothermal for a given location and offers information for each on the payback, tax implications, rebates, subsidies and other incentives.

"The Renewable Energy Scorecard is a data-driven solution to a complex issue," Kent Anson, vice president of global energy for Honeywell Building Solutions, said in a statement. "It’s important that environmental stewardship makes good business sense too. The Scorecard takes the guesswork out of the equation."

The scorecard also takes into account a location’s attributes, such as heating and cooling loads and fuel availability, and uses a database of factors that can impact renewable energy technologies.

Honeywell said the technology is part of its efforts to help its customers cut energy use and take advantage of renewable energy advancements. Nearly half of the company’s products are linked to energy efficiency, Honeywell estimates.

Renewable energy use is growing at a clip greater than 10 percent, the company said. Photovoltaic solar energy generation, in particular, increased 56 percent in 2007 compared to the year before.

The renewable energy sector in recent days has tried lobbying Congress to extend renewable energy tax incentives that are set to expire at the end of 2008. GE released a report Wednesday that wind farm-related taxes would more than offset the amount the federal government would spend on the tax incentives.