Economics

To encourage the construction of industrial wind facilities, the U.S. federal government offers incentives to companies. These incentives are in the form of tax credits. There is a  Renewable Electricity Production Tax Credit (PTC), and a  Business Energy Investment Tax Credit (ITC). The project owner must decide which credit to take. For details on the size of these credits please read the following document: federal_incentives_taxes.

Some states may also offer incentives, such as a grace period of no taxes or reduced taxes, etc. Virginia has several different incentive programs, some for homeowners and some for business that are detailed on the following page: Virginia Financial Incentives.

The Commonwealth of Virginia has established the Virginia Energy Council (https://governor.virginia.gov/newsroom/newsarticle?articleId=4913). This council developed the 2014 Virginia Energy Plan which can be viewed at https://www.dmme.virginia.gov/DE/2014_VirginiaEnergyPlan2.shtml

Section 4 of this plan contains the details for “renewables”. 10Section4Renewables

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