| Recently the Emergency Economic Stabilization Act | | | | equipment certification scheme, it will help secure it as |
| of 2008, H.R. 1424, was passed by Congress that | | | | the global leading market. |
| includes a new federal investment tax credit to assist | | | | To put the industry on equal grounds with the |
| the public in offsetting the wind turbine cost for their | | | | photovoltaic (PV) solar industry, the AWEA, and its |
| homes, businesses or farms. Without any delay, | | | | members have long requested a 30% federal |
| president Bush signed the bill into law. | | | | investment incentive for small wind turbines 100kW |
| The Act offers a federal tax credit for 30% of the | | | | and smaller. And now their persistence has paid off. |
| total installed cost of any wind power system with a | | | | Since the two industries share the same renewable |
| 100 kilowatt capacity or less, but the credit will not | | | | energy market, the wide legislation also expands on a |
| exceed $4,000. The limitation of the Act is that it | | | | similar credit for the PV solar industry that was first |
| only applies to new systems installed from 3 October | | | | enacted in 2005. Domestic PV solar systems now |
| 2008 through to December 2016, so any current | | | | receive a 30% credit, limited to $4,000, and |
| systems will get no tax relief. In addition, for home | | | | commercial installations can get the same, but |
| wind turbines, the credit is further limited to the | | | | uncapped, credit. |
| lesser of $4,000 or $1,000 per kW of capacity. | | | | So how does this act affect anyone who has |
| America, who has typically lead the worldwide small | | | | installed their own system? By the looks of things, |
| wind turbine market recently begun to feel pressure | | | | DIY renewable energy enthusiasts can also enjoy the |
| from other nations that offered enticing incentives | | | | federal tax credit as long they have proof of all |
| for small renewable energy systems. So the new | | | | installation costs and the date they were incurred. |
| legislation was warmly welcomed by a Small Wind | | | | But, it is best to get sound legal advice first to help |
| Advocate of the American Wind Energy Association | | | | you maximize any tax credit due. |
| (AWEA), Ron Stimmel, who said: | | | | With the new tax credit, coupled with potential |
| "We thank Congress for recognizing and supporting | | | | state-side credits, we cannot see a better time for |
| small wind systems as an important contributor | | | | anyone to invest in their own renewable energy |
| toward energy security and a cleaner environment. | | | | system at home and offset the wind turbine cost. |
| This credit will help individuals cut their electric bills | | | | Whether this means getting an expensive |
| while combating global warming in a tangible way." | | | | professionally installed solar/wind power hybrid, or |
| This bill is the first federal incentive for small wind | | | | learning to do it yourself, potential electricity savings |
| turbines since 1985, and industry members believe | | | | are a decision away. At the end of the day the |
| the credit could grow the U.S. wind power market by | | | | choice is yours. |
| 40% or more annually. And along with the upcoming | | | | |