Filed under: Iowa Wind Turbine News, Ohio Wind Turbine News, Wind Turbine Tax Credits
The 2009 legislative session in Iowa can be called nothing short of a victory for Iowa wind turbine projects. We thought we should summarize the changes to one of the state of Iowa tax credits in this post.
HF 810- This bill allows for the creation of “small wind innovation zones”. A small wind innovation zone is a political subdivision of the state of Iowa (cities, townships, school districts, colleges, associations, etc.) that enacts a model law that expedites the wind system approval process. Once a law or ordinance has been enacted, the municipality can apply to the Iowa Utilities Board to become a small wind innovation zone. Wind energy systems within small innovation zones that are rated at or below 100kW are then eligible for a tax credit of one and one-half cents per kilowatt-hour of electricity.
This was the most significant bill dealing with smaller scale wind turbines. Other bills affecting wind energy in Iowa were:
SF 456- This bill increases the number of tax credits for larger scale wind farms. It also allows schools and colleges to receive the tax credit, provided the energy is used solely for their own facility. Finally, the bill allows small producers an extra twelve months to become operational if the delay is because the necessary equipment isn’t available.
HF 817- This bill adds an additional $1 million in funding to a program that promotes “next generation” wind power technology.
SF 452- Appropriates four percent of the Iowa Power Fund towards the creation of the Energy Efficiency Community Grant program.
We are excited to see the continued investment in wind energy by the state of Iowa. Contact us today to take advantage of these generous Iowa wind turbine tax credits.
Filed under: Wind Turbine Tax Credits
We’d like to devote a post to just talking about the federal tax credits available for wind turbine projects. All wind turbines rated at or below 100kW qualify for a federal tax credit of 30% of the cost of the project, including installation costs. Unlike some other forms of renewable energy, there is no maximum tax credit for the installation of a residential wind turbine. Also unlike some other efficiency tax credits, the wind turbine tax credit applies to new construction in addition to existing homes. One of the few provisions in the tax credit is that the residence must be a principal residence or second home to qualify for the tax credit (Rentals do not qualify). More information is available at the government’s energy STAR website: http://www.energystar.gov/index.cfm?c=tax_credits.tx_index. Contact us today if you would like to talk about eligibility requirements or just learn more about the tax credits or about wind turbines in general.
