Small Wind Tax Credit
On August 1, AWEA issued a legislative action alert to all of its members urging them to write a letter requesting their Members of Congress to cosponsor bills S. 2571 and H.R. 4716, both of which would create a new 30% tax credit for the purchase of small wind systems used to power homes, farms, and small businesses.
The small wind tax credit is one component of S. 2571, a wide-ranging energy policy bill sponsored by Senator Kent Conrad (D-ND). Meanwhile, H.R.4716, sponsored by Representative Tom Cole (R-Okla.), is focused exclusively on the small wind tax credit.
Public support for small wind systems is strong, but the high up-front cost of owning a small wind system is a deterrent. An investment tax credit would give consumers an incentive to purchase small wind systems, leading to increased production volumes and lower costs. There have been no federal tax incentives for the purchase of small wind systems since 1985. The federal Production Tax Credit covers only wind projects that sell their electricity into the wholesale market and does not apply to individuals or businesses that want to install their own wind power systems for on-site power. Last years energy bill included an investment credit for residential solar energy and fuel cell applications, but did not include small wind systems.
To help, go to http://capwiz.com/windenergy/issues/alert/?alertid=8902746&type=CO and send a letter to your Members of Congress. Sample letters are already provided, but AWEA encourages members to personalize their messages.Susan Williams SloanAmerican Wind Energy AssociationAustin, Texas