Wind Energy Tax Incentives refer to financial benefits provided by the government to promote the development and use of wind energy. These incentives can take the form of tax credits, deductions, or grants aimed at reducing the cost of investing in wind energy projects.
One of the primary incentives in the United States is the Production Tax Credit (PTC), which offers a per-kilowatt-hour tax credit for electricity generated from qualified wind energy facilities during the first ten years of operation. Another incentive is the Investment Tax Credit (ITC), which allows investors to deduct a percentage of the investment cost from their federal taxes.
These incentives are designed to encourage renewable energy production, reduce greenhouse gas emissions, and enhance energy security by diversifying the energy supply.
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