The Senate and the House of Representatives voted on H.R. 6049, which contained an Investment Tax Credit (ITC) for small wind systems, an extension of the Production Tax Credit (PTC) for large turbines, and other legislation benefiting renewable energy.
The bill overwhelmingly passed the Senate with a vote of 93 – 2 and passed in the House. This was the last opportunity this year for Congress to pass this legislation. The bill includes an eight-year, 30% credit on the installed cost of a small wind turbine, capped at $4,000 for residential and commercial applications. Small wind is defined as turbines with rated capacities of 100 kilowatts and less.
We suggest that you continue to contact your representatives in the House to urge them to support other bills in favor of wind and alternative energy. One bill should requre that each state have a Net Metering bill to require utility companies to repay consumers for power they produce at the same rate they are charged. 47 states have this, Texas had one, but it was quietly changed and made almost impotent by back door negotiations.
In light of the mess on Wall Street and the fact that the banking system is in virtual fear, that the system may be overstressed, the Wind Energy business is one of the few strong and growing industries in the USA that is creating jobs and contributing billions to our economy. The passage of this bill increases the potential for future growth in wind.
We are thrilled that the Senators and Congressmen finally (with a little nudging from people like us) came around on this bill. As a distributor of wind Turbines, our company, Wind Inc., will directly benefit from this, but the tax advantages go most to buyers of turbines, the Americans who want to produce their own energy.
Check out our site, www.environment-solutions.com, and hit the "products" link.