2011 Grants & Credits
Applicable Sectors: Agricultural producer, Rural small business
The USDA’s Rural Energy for America Program, or REAP, provides grants totaling up to 25% of a project’s costs, and loan guarantees for up to 75% of a project’s costs. Eligible projects cover a range of wind energy projects across rural America.
Lake Effect Energy coordinates to identify qualification and writes technical portions of the application. Working directly with the state USDA office and our grant writer ensures a high scoring project. REAP funding is awarded on an annual basis with application deadlines. We recommend this process be started as far in advance in the applicable year as possible.
Applicable Sectors: Commercial, Industrial, Utility, Agricultural
This can be taken as a credit or a grant of up to 30% of the total cost for small wind project.
The credit is equal to 30% of expenditures, with no maximum credit for small wind turbines placed in service after December 31, 2008. Eligible small wind property includes wind turbines up to 100 kW in capacity. (In general, the maximum credit is $4,000 for eligible property placed in service after October 3, 2008, and before January 1, 2009. The American Recovery and Reinvestment Act of 2009 removed the $4,000 maximum credit limit for small wind turbines.)
The grant is equal to 30% of the basis of the property for small wind turbines. Eligible small wind property includes wind turbines up to 100 kW in capacity.
Applicable Sectors: Residential tax payer, Small wind-energy property
There is no maximum credit for systems placed in service after 2008. Systems must be placed in service on or before December 31, 2016. The home served by the system does not have to be the taxpayer’s principal residence. If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year. The excess credit can be carried forward until 2016.
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