Included in the Emergency Economic Stabilization Act of 2008, H.R. 1424 is a new federal tax credit to help consumers buy small wind turbines and solar systems. This is the first federal incentive for smaller wind systems since 1985. It expands a solar credit that was passed in 2005.
If you install a small wind system with 100 kilowatts (kW) of capacity or less, between now and December 31st of 2016, you can receive a credit for 30% of the total installed cost of the system, not to exceed $4,000. If the system is for home use the credit is the lesser of $4,000 or $1,000 per kW of capacity.
Solar PV installations for both commercial and residential applications can receive a 30% credit, capped at $4,000.
I'm far from an expert on solar and wind power or taxes so contact your tax consultant and your local wind system installer for more details.
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