Is a Wind Turbine Right For Me?
Posted By Houston Decorator on April 26, 2010
Do you ever step outside of your home and nearly get knocked over because a 30 mph gust of wind hits you? Have you ever stated the phrase, if this wind would go away it would be a pretty nice day? Have you ever wanted to take advantage of that free resource that so many of us hate? A wind turbine can provide many benefits to anyone who uses electricity plus it gives us the added benefit of preparing our planet for future generations. Let’s explore what a wind turbine can do for you.
First off who is best suited to use wind energy. With the current incentives offered by the federal government businesses or farmers that have incorporated their farm as a business are in the best position to take full advantage of the benefits a wind turbine has to offer. Why is that? First off there is a 30% tax credit available to anyone but if you are incorporated you actually get that 30% as a cash grant. That’s right; the government will give you a third of the money you need to get a the machine. After that there is that wonderful business tax advantage of depreciation. With depreciation you will be able to save at least another 20% if not 25 or 30% of the total value of your wind turbine on your taxes. So after those two federal incentives alone the wind turbine is half paid for. Plus can you imagine the attention and business you will draw to your company by adding a wind turbine in this green economy.
What about everyone else? How can the rest of the country mainly residential and tax exempt entities take advantage of wind power? With a wind turbine mainly you are providing yourself with a cost savings measure. Therefore whatever power your produce you will be able to see a direct savings on your utility bill. Many times though this will not cover the cost of the wind turbine for many years. As I mentioned before though there is a 30% tax credit for anyone, besides tax exempt entities, who erects a wind turbine. Also we are still leaving out one of the biggest benefits of all, that you are hedging against your future cost increases. That’s right you can lock in your electric rates for the next 20-30 years with a wind turbine. Imagine if you had done that for your gasoline prices just 15 years ago.
Is all of this still not enough for you? Well many states have their own incentives for installing wind turbines. Here in Nebraska the state offers a 2.5% interest loan on purchases of wind turbines through your local banking institutions. Many states like Wisconsin, New York, Oregon, and California offer grants for installing a wind turbine. To make sure that you are getting all the benefits possible check with your state energy office.
In conclusion wind energy is not something just the large developers and utility companies can use to help them prepare for the future and turn a nice profit; it is something that anyone with a little extra land can use. There are also many benefits which I have covered including being able to stabilize your electric prices compared with your neighbors or competitors. Let’s not forget that we are also doing something great for our future generations by helping save the planet for their use. By the way I think we would all like to become a little more energy independent as well.
Ryan Simpson is a wind energy specialist for Van Wall Energy. He has been in the wind business for 2 years doing a number of different jobs. Ryan has been a consultant for cities and counties in writing ordinances for wind energy conversion systems. Ryan also had a large hand in developing a small wind innovation zones piece of legislation that was passed into law in Iowa during the 2009 legislative session. Ryan holds a law degree from Drake University.
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