WindSolarEnergy.ORG

Advice for Achieving 
Renewable Energy Independence

Copyright

Do it yourself guides reviewed Contact us SiteMap

 
ARTICLES



Wind Power
Wind Power overview
How Wind Energy Works
Wind Turbines
Windmills
Best regions for 
Wind Power
Windmill alternative

Solar Power
Solar Power overview
How Solar Energy Panels work
Best regions for 
Solar Power
Solar Cells
Photovoltaic Cells
Solar Water Heater
Solar Lighting
Solar Shingles
Solar Ovens
Solar Attic Fans


Free Energy
Geothermal
Water Power

 


Are there Rebates and Tax Savings for Renewable Energy?

Yes. Increasing the return on investment at the quickest possible rate can be greatly affected if you take advantage of the generous rebates offered by federal and even state governments. 

Federal Incentives

There is a tax credit available. Tax credits are different than tax deductions. Tax deductions are ways to reduce your taxable income, and only by that do you save money. For instance, if you made $50,000 last year and you spent $3,400 of that in a renewable energy investment, you would only pay taxes on $46,600. 

With a tax credit, the government basically hands you a wad of cash. If you spent $3,400 on a renewable energy investment, the government would pay you back 30% of your investment. This means that you would basically get a check for $1,020 (or they would take that off any taxes owed). Thus, your actual investment would be $2,380 rather than $3,400! There are some conditions, so please consult your tax professional for more details on this tax credit. Click here for the IRS form.

The Federal Production Tax (PTC) credit is for the purposes of providing wind generators with an inflation-adjusted tax credit of 2.0 cents per Kilowatt hour (KWH) of power generation. The tax credit expired in 2008, however the credit has been extended a number of times and has always been retroactive to the prior expiration date. 

There is also a provision for being able to accelerate the depreciation of some wind energy investments when calculating your tax liability.

State Incentives

Some states are more friendly than others when it comes to giving deductions, rebates and credits. 

A valuable resource for the latest information on various incentives can be found at http://www.dsireusa.org/ . They keep a running database of the latest information on this topic. 

Coming soon: Sign up for our free six part mini-course on how to properly plan for adding solar and wind energy to your home.

 Bookmark With del.icio.us     Digg!  Digg this story      stumble upon  Submit to StumbleUpon


Top Do It Yourself Guides - Purchased and reviewed

WindSolarEnergy.ORG is a free resource offering advice on achieving renewable energy independence 

On the site you will find valuable articles covering how wind energy is harnessed through wind turbines, how solar energy is harnessed through photovoltaic solar panels, best locations for Wind Power and much more. You will also find helpful reviews of Do it Yourself guides that we have purchased and researched. 

If you found this site useful, spread the word and help others find WindSolarEnergy.ORG by adding us to your favorite social bookmarking site:
 
 Bookmark With del.icio.us     Digg!  Digg this story      stumble upon  Submit to StumbleUpon

WindSolarEnergy.ORG Home

All rights reserved. Copyright © WindSolarEnergy.ORG 2008-2009
Privacy Policy

 

If you are interested in purchasing products that are American Made in the USA, Click here for OnlyBuyAmerican.com