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Unformatted text preview: Forbes Magazine Business Wire - Press Release Federal Government Endorses Small Wind Turbines with Tax Credit 10.29.08, 10:30 AM ET Southwest Windpower, the leading manufacturer of small wind turbines, played a leadership role in the passage of new legislation creating a federal-level tax credit for qualified small wind turbines -- a significant leap for the small wind industry as a whole. This legislation marks the first federal incentive for small wind systems since 1985. On Friday, Oct. 3, 2008, the Emergency Economic Stabilization Act of 2008, H.R. 1424 was passed which included a new federal-level investment tax credit (ITC) for qualified small wind turbines. The ITC is worth up to $4,000 and available for units installed through 2016. The U.S. small wind industry projects that the enactment of this federal credit, combined with a forthcoming equipment certification program, will provide thousands of new jobs and could foster U.S. market growth of more than 40 percent annually. "Cutting edge small wind systems can play an important role in our efforts to expand the production of clean, homegrown energy," said Senator Ken Salazar. "These tax credits will provide America's consumers, small homegrown energy," said Senator Ken Salazar....
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This note was uploaded on 03/03/2010 for the course ECON E103 taught by Professor Johnson during the Spring '08 term at Indiana University South Bend.
- Spring '08