There is a 30% tax credit available to homeowners who invest in wind power to offset rising costs of electric power to your home. The Inflation Reduction Act also offers this tax credit to homeowners living off the grid. This credit can be used all in one tax filing or spread over a 5-year period.
While a wind turbine may certainly reduce your cost of electricity, homes in many parts of the country are heating with propane or fuel oil. If you have an appropriate wind resource at your location, a wind turbine may offer the opportunity to convert from fossil fuels to electric, thereby providing a double bang to your investment.
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