(2009 Stimulus Package)
On February 17, 2009 President Obama signed into law the American Recovery and Re-investment Act of 2009. With a significant emphasis on renewable energy technology deployment and job expansion, the bill improved upon the 2008 small wind tax credit by removing "cost caps." This change allows consumers and small businesses to deduct from their tax liability 30 percent of the installed cost of a wind turbine. Additionally, businesses will have the option of receiving their credits in the form of cash grants.
The entire cost of a Small Wind System (plus installation) is reduced by 30 percent provided you have a tax liability. The credit can be claimed over the course of two years. Depending on where you live, you could save even more! Some states have also implemented rebates for small wind systems which can be used in addition to the Federal credit. Furthermore, in the last two months alone, more than 30 states have introduced legislation that either expands incentives for renewable energy and/or addresses market barriers.
Personal Tax Credit
Utility Rebate Program
- MichCon - Residential Energy Efficiency Rebate Programs
- WPPI Energy - Renewable Energy Rebates (offered by six MI utilities)
Net Metering
