in News Departments > Policy Watch
print the content item

Gov. Edward G. Rendell, D-Pa., has announced the availability of a new tax credit to encourage the growth of renewable energy in Pennsylvania.

The Alternative Energy Production Tax Credit Program provides a tax credit of 15% of the net cost of alternative energy production projects that were developed between July 9, 2008, and Dec. 31, 2008.

Types of eligible projects include solar, wind, geothermal, biologically derived methane gas, fuel cells, biomass and coal methane. There is a limit of $1 million per applicant and $5 million for the program. Should the amount of approved tax credits exceed the limit, all tax credits will be pro-rated. Interested parties must apply for the tax credit by Sept. 15.

"When I signed the Alternative Energy Investment Act last July, the goal was to make available a number of funding options to assist Pennsylvania's residents and businesses seeking to battle rising energy costs by developing projects that generate clean, renewable energy, reduce energy consumption and save money," says Rendell.

For more information, visit depweb.state.pa.us.

SOURCE: Pennsylvania Office of the Governor

Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.

Canwea_id1984
Renewable NRG_id1934
Hybrid Energy Innovations 2015