Wednesday, October 8th, 2008
Congress passed legislation, the Emergency Economic Stabilization Act of 2008, H.R. 1424, that includes a new federal-level investment tax credit to help consumers purchase small wind turbines for home, farm, or business use. President Bush is expected to sign the bill into law. Owners of small wind systems with 100 kilowatts (kW) of capacity and less can receive a credit for 30% of the total installed cost of the system.. unlimited. The credit will be available for equipment installed from the date the president signs the bill through December 31, 2016. For turbines used for homes, the credit is covering complete installed cost of hardware, wiring, labor, etc.
Residential Energy Efficient Property Credit
You may be able to take a credit of 30% of your costs of qualified solar electric property, solar water heating property, small wind energy property, geothermal heat pump property, and fuel cell property. This includes labor costs properly allocable to the onsite preparation, assembly, or original installation of the property and for piping or wiring to interconnect such property to the home.
Qualified small wind energy property costs. Qualified small wind energy property costs are costs for property that uses a wind turbine to generate electricity for use in connection with your home located in the United States. The home does not have to be your main home.
Qualified solar electric property costs. Qualified solar electric property costs are costs for property that uses solar energy to generate electricity for use in your home located in the United States. This includes costs relating to a solar panel or other property installed as a roof or a portion of a roof. The home does not have to be your main home.
Qualified solar water heating property costs. Qualified solar water heating property costs are costs for property to heat water for use in your home located in the United States if at least half of the energy used by the solar water heating property for such purpose is derived from the sun. This includes costs relating to a solar panel or other property installed as a roof or a portion of a roof. To qualify for the credit, the property must be certified for performance by the nonprofit Solar Rating Certification Corporation or a comparable entity endorsed by the government of the state in which the property is installed. The home does not have to be your main home.
Download IRS Form 5695
Congress passed legislation, the Emergency Economic Stabilization Act of 2008, H.R. 1424, that includes a new federal-level investment tax credit to help consumers purchase small wind turbines for home, farm, or business use. President Bush is expected to sign the bill into law. Owners of small wind systems with 100 kilowatts (kW) of capacity and less can receive a credit for 30% of the total installed cost of the system. The credit will be available for equipment installed from the date the president signs the bill through December 31, 2016. For turbines used for homes, the credit is additionally unlimited to the amount of capacity that you install. See Wind/Solar Hybrid Kits
To Buy a Wind Turbine or Become a Dealer, Please fill out our Contact Form. The system will automatically send you some additional info.
Coincidentally: Wind/Solar Hybrid Systems Shipping Today
Today WindEnergy7.com posted some pictures of the rooftop kits that were developed and built recently. You can check those out at their blog. WindEnergy7.com has 1 size larger than this available in a rooftop kit but the size pictured is most popular kit.
http://windenergy7.com/turbines
WindEnergy7.com is interested to help you with your wind/solar needs. If you are interested in becoming a local dealer for WindEnergy7 products, we are building that ground floor network now.
WindEnergy7
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http://windenergy7.com/turbines
“We thank Congress for recognizing and supporting small wind systems as an important contributor toward energy security and a cleaner environment. This credit will help individuals cut their electric bills while combating global warming in a tangible way,” says Ron Stimmel, Small-Wind Advocate with the American Wind Energy Association.
This legislation marks the first federal incentive for small wind systems since 1985. Industry members say the credit could foster U.S. market growth of 40% or more annually.
Our allies have advocated for a 30% federal investment tax credit for small wind systems 100 kW and smaller to put the industry on equal policy footing with the solar photovoltaic (PV) industry. The two technologies share the same market. The broad legislation passed also extends and expands a similar credit for the solar industry that was first passed in 2005. Residential and commercial solar PV installations can receive a 30% credit for residential applications and uncapped for commercial uses.
The U.S. has historically dominated the global small-wind market but has faced pressure in recent years from overseas nations that have implemented strong domestic incentive programs for small-scale renewables. The U.S. small wind industry projects that the enactment of this federal credit, combined with a forthcoming equipment certification program, will help secure the U.S. market as the global leader.
To Buy a Wind Turbine or Become a Dealer, Please fill out our Contact Form. The system will automatically send you some additional info.
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