CGE Energy an engineer of no capital cost energy solutions applauds the reinstatement of the Small Wind Investment Tax Credit (ITC). CGE Energy’s patented WIND•e20 vertical axis wind turbine is in the small wind turbine space, and the extension of the ITC expedites its market adoption.
Signed into law on February 12th, 2018, Congress passed new bipartisan legislation, the Bipartisan Budget Act of 2018 (H.R. 1892), that included a multi-year extension of the Investment Tax Credit (ITC) for small wind turbines (100kW and smaller), and other clean energy technologies. The legislation, retroactive to January 1st, 2017, extends the ITC through 2022.
The ITC reinstatement also supports CGE Energy’s commitment to U.S. manufacturing, as they are in the process of engineering and design optimization for the manufacturing of their 105-foot WIND•e20 turbine. CGE Energy’s strategic manufacturing partner is ROUSH Industries, headquartered in Livonia, Michigan.
WIND•e20 generates clean power on-site and can be installed, maintained and removed without a crane. The turbine is quiet, safe for birds, and its blades even collapse in storms– all feats that help clear barriers for small wind turbines and sustainable energy.
“Bipartisan support for distributed generation, small wind power is commended. To CGE Energy it means sustaining American businesses, employees, schools and communities as well as supporting clean air and clean water domestically,” said CGE Energy President & CEO Bryan Zaplitny. “And, specifically with WIND•e20, it means improving life safety, responding to emergencies, communication and community infrastructure.”
For small wind turbines, the ITC is 30% for projects that begin construction before 2020; 26% ITC for projects that begin construction before 2021; and, 22% ITC for projects that begin construction before 2022. Another aspect of CGE’s comprehensive project technologies is the installation of highly-efficient Combined Heat and Power (CHP) natural gas generators, which also now qualify for a 10 percent ITC if construction begins before 2022.
While CGE’s energy project economics does not rely on tax credits, they allow the projects to have a greater impact, increase CGE’s bottom line which is paid forward to help bring further financial benefit to the customers.
Filed Under: News, Policy