November 16, 2009
- Home Wind Turbine Cost Lowered By Tax Credits
Recently the Emergency Economic Stabilization Act of 2008, H.R. 1424, was passed by Congress that includes a new federal investment tax credit to assist the public in offsetting the wind turbine cost for their homes, businesses or farms. Without any delay, president Bush signed the bill into law.
The Act offers a federal tax credit for 30% of the total installed cost of any wind power system with a 100 kilowatt capacity or less, but the credit will not exceed $4,000. The limitation of the Act is that it only applies to new systems installed from 3 October 2008 through to December 2016, so any current systems will get no tax relief. In addition, for home wind turbines, the credit is further limited to the lesser of $4,000 or $1,000 per kW of capacity.
America, who has typically lead the worldwide small wind turbine market recently begun to feel pressure from other nations that offered enticing incentives for small renewable energy systems. So the new legislation was warmly welcomed by a Small Wind Advocate of the American Wind Energy Association (AWEA), Ron Stimmel, who said:
"We thank Congress for recognizing and supporting small wind systems as an important contributor toward energy security and a cleaner environment. This credit will help individuals cut their electric bills while combating global warming in a tangible way."
This bill is the first federal incentive for small wind turbines since 1985, and industry members believe the credit could grow the U.S. wind power market by 40% or more annually. And along with the upcoming equipment certification scheme, it will help secure it as the global leading market.
To put the industry on equal grounds with the photovoltaic (PV) solar industry, the AWEA, and its members have long requested a 30% federal investment incentive for small wind turbines 100kW and smaller. And now their persistence has paid off.
Since the two industries share the same renewable energy market, the wide legislation also expands on a similar credit for the PV solar industry that was first enacted in 2005. Domestic PV solar systems now receive a 30% credit, limited to $4,000, and commercial installations can get the same, but uncapped, credit.
So how does this act affect anyone who has installed their own system? By the looks of things, diy renewable energy enthusiasts can also enjoy the federal tax credit as long they have proof of all installation costs and the date they were incurred. But, it is best to get sound legal advice first to help you maximize any tax credit due.
With the new tax credit, coupled with potential state-side credits, we cannot see a better time for anyone to invest in their own renewable energy system at home and offset the wind turbine cost. Whether this means getting an expensive professionally installed solar/wind power hybrid, or learning to do it yourself, potential electricity savings are a decision away. At the end of the day the choice is yours.
November 14, 2009
- Make My Own Wind Turbine…Is It Really Possible?
I'll admit it, I've had some financial struggles over the last couple of years. I'm just starting to get things under control and don't need any unexpected expenses such as ridiculous energy costs. That's the reason I've decided to build my own wind turbine.
November 12, 2009
- DIY Wind Turbine-The Cost of Wind Energy
DIY wind turbines are used to utilize the energy of the wind and a lot of work has been done to make them more affordable. However, buying a wind energy system still requires a large investment, but there is a way in which you can cut costs significantly.
This technique to cut costs involves making your own wind energy turbine. Wind turbines are available in large and small sizes. Building your own turbine means that you will be able to control costs to a certain extent.
Wind energy systems have different components like a generator, rotating shaft, gearbox, mounting tower, etc. An understanding of how to put together the whole system is necessary for building your own turbine wind generator but this type of information is freely available online now.
DIY wind turbine manuals can help you with the entire process. These manuals contain instructions and diagrams that explain things in a step by step manner so that you do everything correctly. Many do it yourself guides and manuals are available online and the basic components can be purchased at most hardware stores.
Building your own turbine is a very practical way of providing electrical energy for your house. Small wind energy turbines can be used to power household appliances and lighting.
You have the choice to either choose a horizontal-axis wind turbine or a vertical-axis. In horizontal-axis turbines the blades are facing the wind direction, while in vertical they can be in different directions. Horizontal-axis wind turbines are the most commonly used.
The vertical-axis turbines are more suitable in places where wind direction can vary frequently.
You can setup your own wind energy system for as low as $200. A DIY wind turbine is economical and clean and will payback the initial investment in about 3 years.
Clearly there is a huge benefit to the environment also and you can play your part in reducing environmental pollution.
November 10, 2009
- Wind Turbines… Are They Right For You?
If you're like millions of other Americans who are looking for ways to help the planet while taking back some of your independence from greedy utility companies, you may have wondered if building your own wind turbines makes sense.
- Wind Turbine Cost-3 Critical Factors to Small Wind Generators
To properly assess the true wind turbine cost there are a number of factors you will need to consider.
Before making a decision, it is important that you estimate the time you will be staying in the home. Your investment will have a payback period of seven to fifteen years; the expense that you will incur initially will be reflected in the property value if an and when you decide to sell.
However if you have no intention of moving you will see the greatest cost benefit return because having a wind turbine will enable you to generate free energy in the long run.
Firstly you will need to find out about the wind speeds in your area. A minimum speed of 5 meters per second is required for generation of electricity. Also, find out how often the wind blows and the prevailing direction; this information should be freely available on the internet from the site of your local meteorological provider.
Check with local authorities about the rules and regulations of building wind turbines. Wind turbines are normally mounted on top of a tower. This is not a problem in rural areas; however, it can present problems in an urban setting.
You will need to assess your energy requirements. Find out how much energy you need to run certain appliances and lighting. Small turbines need to be monitored regularly in order to ensure maximum output. A number of factors go into the selection of turbines.
The cost of buying a unit for your home is between twenty thousand and forty thousand dollars. There are a lot of factors involved in the cost, so it is difficult to give an exact estimate.
However a better idea is to build a wind turbine by purchasing the materials yourself. If you are planning on building a wind turbine, the cost will usually range from $200 to $500 depending on the size and of the turbine and the quality of the guide that you purchase.
The ongoing wind turbine maintenance costs are very low and the plentiful supply of free energy from the elements in the atmosphere are a huge advantage, together with the clear environmental advantages.
More on Wind Turbine Cost-3 Critical Factors to Small Wind Generators.