amazing, not since 1985 has a ”’small wind turbine”’ tax credit been passed!!!
Small Wind Turbine Federal Tax Credit is Law
Today 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. A few hours ago, President Bush signed 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, not to exceed $4,000. The credit will be available for equipment installed from today through December 31, 2016. For turbines used for homes, the credit is limited to the lesser of $4,000 or $1,000 per kW of capacity.

“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 and reducing our importation of fossil fuels 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 for the largely American based industry.