subject: Small Wind Turbine Industry and Incentives [print this page] Small Wind Turbine Industry and Incentives
The achievements and needs of the clean power industry need to be addressed, as shown by the 2010 BP oil spill in Gulf of Mexico. Here are some ideas about the wind power industry and how incentives can rejuvenate this clean approach to energy.
The growth of small wind turbine industry in the recent years has been steady, even in 2009-10 there was rise of 15% as reported by Time Magazine research. This might have been a good year, but the fact remains most of the world is using the carbon based fuel, which is not only polluting the world but giving rise to global temperatures too. This is the time to take clean fuel generation positively as this industry is worth more than $82.4 million easily.
The industry experts like Alex Ellis see a positive future. According to him the next five years will see steady growth in this industry. His estimate is based upon an authentic research that estimates the chances of easy establishment of more than 8 million small turbine business shortly. Alex Ellis is participating in the green energy as well with his Boston Based wind power plant.
Incentives for Wind Energy Generation
DSIRE is the organization working for promotion of green energy generation. They have two types of incentives. The first Incentives include the help in rules and regulations that might help and protect the business working in the renewable energy sector. The other side is the financial incentives and grants.
1. Corporate tax incentives
2. Grant program
3. Green building incentives
4. Industry recruitment support
5. Leasing incentive program
6. Loan program
7. PACE Financing
8. Performance based incentives
9. Personal Tax Incentives
10. Rebate Program
11. Sales Tax Incentives
12. Incentives on utility bills
The small home of 2,500 sq ft can become self reliant in energy needs by installing a small wind turbine. The average power use of this home can be three kilowatt. The three kilowatt system requires sixty feet plus tower and cost of that can be at least fifteen thousand dollar. Taking this a step further, a hundred kilowatt system can cost around $450,000. The thirty percent tax credit is often not sufficient for covering the huge investment for wind power plant even if location has strong feasibility.
The small wind turbine industry is still in experimental stages according to the some industry experts including Pavel Molchanov of Equity Research. His assessment is that the wind industry is still in infancy. The cost of the wind energy is still quite high; the energy produced by the one wind mill is often less than hundred kilowatts. The potential of wind energy is there but the expensive set up cost requires incentives too.
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