Saturday, February 21, 2009

More on the tax credit for Wind Turbines

Impact of the American Recovery and Re-investment Act (2009 Stimulus Package)

On February 17, 2009 President Obama signed the American Recovery and Re-investment Act of 2009 into law. With a significant emphasis on renewable energy technology deployment and job expansion, the bill improved upon the 2008 tax credit, by removing "cost caps." This change allows consumers and small businesses to take a 30% tax credit off the installed cost of a wind turbine. To a consumer or business purchasing a single 2.4KW residential wind turbine, it will double their credit. Additionally, consumers and businesses will also have the option of receiving their credit in the form of a cash grant.

Frequently Asked Questions

Q: How does the stimulus package impact my business?
A: The Bill stimulates the industry by making small wind more affordable and accessible to a larger percentage of the population, thus, increasing your market opportunity. Any Skystream installed in 2009 through 2016 (eight years) is eligible for a credit up to 30% of the installed cost of the wind turbine. This credit can be applied against taxes owed or, for at least 2009 and 2010, receive a grant for the same amount from the Government.

Q: How does the stimulus package impact Skystream purchasers?
A: The entire cost of a Skystream system (plus installation) is reduced by 30 percent. For example, if an average installation costs between $12k -- $18k, the stimulus package will save you between $3,600k -- $5,400. And depending on where you live, you could save even more! States have also implemented rebates for small wind which can be added to the Federal credit. Furthermore, in the last two months alone, more than 30 States have introduced legislation that either further incentivizes renewables and/or addresses market barriers.

Q: What about my customers that have already purchased a Skystream?
A: If they purchased a Skystream in 2008, they will qualify for the federal-level tax credit, passed as part of the October 2008 bailout legislation, up to $2,400k. If they purchased a Skystream in 2008 but it was not installed until 2009, you can write a letter indicating that the wind turbine was not "commissioned," i.e., became operational until 2009, they would qualify for the 30 percent tax incentive or a cash grant for the same amount.

Q: What if I install more than one Skystream?
A: The stimulus package allows for a 30 percent tax credit or cash grant on the total cost of multiple units. There is no cap on the 30 percent tax credit or cash grant.

Q: I heard the customer can get cash back rather than a tax credit - how does that work?
A: Yes, they can apply for a grant from the US treasury and rather than a tax credit, receive a cash grant. The details are still being worked out but should be in place by April or May. Keep in touch for more information.

Q: Does the stimulus package benefit the renewable energy industry as a whole?
A: Yes, the Bill makes both solar wind and even energy efficiency more affordable for Americans and American corporations that are looking to utilize sustainable energy within their homes and facilities. The American Wind Energy Association (AWEA) reported that the United States is the largest producer of small residential scale wind generators. As much as 66% of the global market is produced domestically. This means the jobs being generated are also for the manufacturing sector.

Information from the Southwest Windpower Dealer News

Wednesday, February 18, 2009

Next Newsletter

I should be releasing my next newsletter around the first of March. So you still have time to sign up for it. Here is the link to do that. There is a place along the side of this blog register too.

Sunday, February 15, 2009

Congress Approves Uncapped 30% Tax Credit for Wind Turbines

The United State Congress passed the American Recovery and Reinvestment Act late Friday evening. President Barack Obama is expected to sign the bill into law on Tuesday.

Included in the legislative package is an uncapped 30% tax credit for the installation of small wind turbines. The 30% tax credit applies to all types of taxpayers - individuals and businesses alike. The 30% tax credit is calculated based upon the total installed cost of your installation of one or more wind turbines.

Saturday, February 14, 2009

Meeder Project

We finished the Meeder Project yesterday. The turbine is mounted on a 45' tower. It went up with out a hitch. Antrim County Crane came out and installed it for us and did a good job.

The weather some what cooperated with us, other than the snow which made it difficult to get the pole moved around. We managed to get the loader stuck.

But no the less it is up, now if we would get some wind things would be much better.

Keep your eyes open the newspaper was there and did a story on us installing the turbine.

Tuesday, February 10, 2009

Updates on current project and software updates

Friday we will be installing the Meeder's turbine in Antrim County. I will be posting pictures of the installation when it is done. Since we have had a warm up we will get this unit installed.

I was out to the Flynn project observing her turbine with the new software update and it was spinning without interruption. Before the update, when we had high winds like today it was shut down more than it was running. I posted the output for that unit yesterday. Before the update the turbine was down on kilowatt hours for the month. But since I install the new software the turbine has made that up very quickly. 175KWH for the month of January. Down a little from the previous month, but I except a very large increase for the month February.

Thursday, February 5, 2009

Software updates

Well I just got back from the Thumb today from a two visit over there. I was completing all my turbines that I installed last summer installing the inverter updates. The update which is standard on new turbines that I receive now, will allow the turbine to run better. The updated now makes the unit a full 2.4kw turbine. Which before it was 1.9kw. It also keep the turbine from shutting down all the time during high wind gusts. So for those that maybe out there and have not had their dealer do this update yet. Give me a call and I will be happy to install it for you.

I will be heading to Ludington tomorrow to start on those units that my dealer had installed in that area. So once those are done all the units that I maintain will all be using the same software.