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Legislative changes have made many home owners and investors think about the projects and sustainability improvements that still qualify for energy efficiency incentives. The execution of small wind energy property projects is one of the possibilities that still qualify for financial compensation.
Wind-Based Energy Production and Incentives
The residential energy efficient property incentive is going to be available for projects executed until 2016. Some of the qualifying projects include small wind systems, solar panel installation, fuel cells, solar water heating systems and geothermal heat pump systems.
Individuals that execute such projects can claim 30 percent of the cost of the alternative energy equipment. The energy efficient home incentive comes with no dollar limit for the majority of residential property types.
If the energy efficient incentive exceeds the amount owed in taxes, the leftover can be carried forward to the returns for the coming year.
Additional Benefits of Wind-Based Alternative Energy Systems
Apart from giving access to financial stimuli like the energy efficient home incentive, the installation of a small wind energy system is connected to a vast range of additional benefits.
Wind energy technology comes with enormous potential. Such installations are very space efficient and the price of installation has decreased by almost 80 percent since the 1980s. The technology is expected to become even more accessible in the years to come, which will decrease the price even further.
The operational costs associated with energy production from wind are quite low in comparison to the amounts needed in the case of other alternative energy systems.
The mounting method and the size of the wind energy system for residential purposes will be determining for the cost of the installation. Turbines mounted on buildings tend to be less expensive than pole-mounted equipment. There are options to choose among, which increases the versatility and practicality of such installations.
Is the Project Right for You?
Several factors need to be examined before you decide whether a small wind energy project is the right sustainable development for your residential property.
The wind speed is the first factor to be examined. In order to get sufficient return on investment, you need ample and consistent wind. Power will be produced if the speed of the wind exceeds seven miles per hour. The best performance is obtained at wind speed ranging between 12 and 20 miles per hour.
Local zoning regulations will have to be examined, as well. Sometimes, the installation may violate height restrictions. Keep in mind that wind systems require enough space and the smallest installations will need approximately half an acre.
When buying equipment, you’ll need to have a good idea about the right turbine size, the height and the durability of materials. Quality turbines require very little maintenance and they’ll remain in good condition for at least 20 years.
Apart from giving you access to an energy efficient home incentive, a wind turbine installation will provide convenience and a great return on investment. Do your preliminary research to make sure this sustainability project is the right one for you and that execution’s going to be easy on the particular plot you’ve chosen.
Steve Nanos
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