U.S. Federal Incentives for Alternative Energy Expanded
On February 17, 2009 President Obama signed the American Recovery and Re-investment Act of 2009 into law. The bill improves upon the 2008 tax credit, by removing "cost caps." This change allows consumers and small businesses to take up to a 30% tax credit off the installed cost of alternative energy resources - which include solar and wind power options.
"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 (AWEA).
AWEA, its members, and 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 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 renewable. 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 thus providing thousands of new jobs for Americans.
For updates on this program and other alternative energy incentive offers, rebates and programs please visit www.dsireusa.org
D E S I G N I N G W I T H A R T I S T R Y A N D I N N O V A T I O N