Updates

Important Announcement

Impact of the American Recovery and Re-investment Act
(2009 Stimulus Package)

February 17, 2009 President Obama signed the American Recovery and Re-investment Act of 2009 into law. With a significant emphasis on renewable energy technology deployment and job expansion, the bill improved upon the 2008 tax credit by removing “cost caps.” This change allows consumers and small businesses to take a 30 percent tax credit off the installed cost of a wind turbine. To a consumer or business purchasing a single 2.4KW residential wind turbine, this doubles the credit. Additionally, consumers and businesses also have the option of receiving the credit in the form of a cash grant.

Q: What does the stimulus package mean for me if I’m considering buying a Skystream?
A: The entire cost of a Skystream system (plus installation) is reduced by 30 percent. For example, if an average installation costs between $12,000 - $18,000, the stimulus package will save you between $3,600 - $5,400. And depending on where you live, you could save even more. States have also implemented rebates for small wind that can be added to the Federal credit. In the last two months alone, more than 30 States have introduced legislation that either expands incentives for renewable energy and/or addresses market barriers. You can find out more about your state by visiting http://www.skystreamenergy.com/where-to-buy/ and click on “state rebates/incentives.”

Q: What does the stimulus package mean for me, if I already own a Skystream?
A: If you purchased a Skystream in 2008, you qualify for the federal-level tax credit, passed as part of the October 2008 bailout legislation, up to $2,400. If you purchased a Skystream in 2008 but your dealer did not install it until 2009, ask your dealer to write a letter indicating that the wind turbine was not “commissioned” (became operational) until 2009. This will qualify you for the 30 percent tax incentive or a cash grant for the same amount.

Q: What if I want to purchase and install more than one Skystream?
A: The stimulus package allows for a 30 percent tax credit or cash grant on the total cost of multiple units. There is no cap on the 30 percent tax credit or cash grant.

Q: I heard I can get cash back rather than a tax credit – how does that work?
A: Yes, you can apply for a grant from the US treasury and rather than a tax credit, receive a cash grant. The details are still being worked out but should be in place by April or May. Keep in touch with your dealer or the manufacturer for more information.

Q: Does this work for all small wind systems, even Whisper and Air Breeze?
A: Yes. The incentive is available to all users of small wind systems.