It turns out the recently passed $700 billion economic bailout package contained some sweet tasting pork. In addition to tax credits for geothermal, wind, solar and green building, Congress added tax credits for residential small and micro wind installations. The ITC (investment tax credit) can subsidize up to $4,000 for installation of qualifying small wind systems, based on the amount of renewable energy produced, and includes vertical-axis wind turbines.
The tax credits were pushed by industry leaders like Southwest WindPower (I believe that’s call lobbying) and is seen as a major boost to the small wind industry which is anticipated to grow at a rate of up to 40% annually. The ITC will remain in effect for turbines installed through 2016.
previously on altCon – Skystream 3.7 Small Wind Turbine