31 Oct '11, 1pm

Franken-Tester Bill Would Support Community Wind Development

Franken-Tester Bill Would Support Community Wind Development

The "Community Wind Act" would expand the existing small wind Investment Tax Credit to projects with capacity up to 20 MW. Currently, a 30 percent investment tax credit is available for wind turbines with nameplate capacities of up to 100 kW. Under the new legislation introduced, there is no restriction on the size of any individual turbine. Community wind projects , which involve a financial interest on the part of members of the local community, are viewed as an additional way for wind power’s many benefits to be tapped by localities. Such projects are typically smaller than many more traditional wind projects. Not surprisingly, one challenge of community wind development is access to capital, and the ITC is intended to help address that. "Locally owned wind projects are an important part of our nation's energy future and they're a great investment for rural communities ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2011...

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