Incentives for Renewables
When choosing a wind turbine, understanding various incentives that may be available to you is key.
Feed In Tariffs (FIT)
A Feed in Tariff is a policy mechanism designed to accelerate investment in renewables. A FIT is essentially a long term contract with a renewable energy producer where a price per kWh generated is awarded a rate per kW by the unit depending on the technology.
The government of Nova Scotia introduced a FIT rate pf 49.9 cents per kWh for small wind. Learn more here.
The United Kingdom’s current FIT rate is 16.0 pence per kWh for the 15-100kW band, this rate is in effect from October 2014 – March 2015. Learn more here.
Italy introduced its FIT program in 2012. The current FIT rate for turbines in the 50kW range is 26.8 euro cents per kWh.
Net metering is a program whereby eligible customers with specific renewable energy generation equipment can reduce their net energy costs. Users export excess electricity they generate back onto the grid for a credit against the energy they consume.
Net metering is not available everywhere, but various US states do have such a program in place. Learn more about what is available in your US State here.
A tax credit on implementing a wind turbine for distributed energy production is available in specific markets. These credits provide you with a sums that offset tax liabilities.
In some markets, government grants, are also available to producers of wind power.
Disclaimer: Not all incentives listed are currently available in all markets, please inquire with your local governing body.