Financial Incentives
There are two classes of financial incentives associated
with generating your own power:
(1)
Your electric utility bills are reduced according to the
amount of power you use – thatŐs called Ňnet meteringÓ.
(2)
There are several government programs offering credits and
rebates.
Net Metering
If your residence uses 600 kw-hr of power and your turbine
generates 500 kw-hr that month, your electric meter will indicate that you used
100 kw-hr from the utilities electrical grid. Your utility bill will be based
on 100 kw-hr.
If your turbine generated 800 kw-hr, your meter will have
run backwards. You will receive a credit of 200 kw-hr. You do not receive cash. You can use
that credit in a subsequent month when the wind was not as active.
Links to the details of the New Hampshire Public Utility
regulations on net metering are found here.
The American Wind Energy Association has published a FAQ that addresses questions
that you might have.
Credits/ Rebates
The US Treasury thanks all of you for your support of
our clean, independent energy efforts.
Our Federal Government, through The American Recovery and Investment Act of 2009, commonly known as the Obama stimulus package, has removed the $4,000 credit caps on the residential and business tax credits passed by Congress in October 2008. Homeowners can now receive a full 30% federal tax credit when installing a wind turbine. The new tax credit will be available through 2016.
This is a tax credit, not a deduction. The credit will directly reduce the buyerŐs federal tax payment. For a full description of the provisions prepared by the American Wind Energy Association, click here.
For small wind systems installed in 2008 the residential tax credit is 30% of the total installed cost, up to the lesser of $4,000 or $1,000/kW.
The State of New Hampshire also extends its thanks to
the taxpayers.
Our State of New Hampshire Public Utility Commission offers an incentive payment for wind turbine installations of 5 Kw or less. The payment is based on the installation cost and the power output. The payment is currently capped at $6000. Click here for details.
The new NHEC substation in Jackson will help
distribute energy resources.
Our electrical utility, NH Electric Co-op, which distributes power within Jackson offers a rebate program. NHEC is currently offering rebates of 25% of the installed cost up to $3,500 per member account. Rebates are being given on a first come first served basis since there are a limited number of available rebates. Click here for details.
For comprehensive data on incentives for Renewable & Efficiency programs in the state of New Hampshire see the web site DSIRE, maintained by the North Carolina Solar Center.
Updated June 29, 2009