Governor Rendell: Tax Credit Available for Alternative Energy Production Projects
Posted on: Monday, 27 July 2009, 13:24 CDT
HARRISBURG, Pa., July 27 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell today announced the availability of a new tax credit to help Pennsylvanians in their quest to create renewable sources of clean, alternative energy and their battle against higher energy costs.
"When I signed the Alternative Energy Investment Act last July, the goal was to make available a number of funding options to assist Pennsylvania's residents and businesses seeking to battle rising energy costs by developing projects that generate clean, renewable energy, reduce energy consumption and save money," said Governor Rendell. "Pennsylvania has established itself as a leader in developing and deploying clean renewable energy sources. This tax credit gives us another tool that we can use to continue that trend."
The Alternative Energy Production Tax Credit Program provides a tax credit of 15 percent of the net cost of alternative energy production projects incurred between July 9 and Dec. 31, 2008. Types of eligible projects include solar, wind, geothermal, biologically derived methane gas, fuel cells, biomass and coal methane. There is a limit of $1 million per applicant and $5 million for the program. Should the amount of approved tax credits exceed the limit, all tax credits will be pro-rated. Interested parties must apply for the tax credit by Sept. 15.
"Every day, more and more Pennsylvanians continue to develop alternative energy projects. By doing so, they are investing in their financial futures and the future of our state," said Governor Rendell. "The Tax Credit Program, along with the Pennsylvania Sunshine Solar program that provides rebates up to 35 percent for residential and small business solar projects, are two examples of how we can continue to work toward energy independence."
The application package including guidance, instructions and application forms is available electronically at www.depweb.state.pa.us, keyword: "Alternative Energy Tax Credit."
The application package is also available by contacting the Department of Environmental Protection, Office of Energy and Technology Deployment, 15th Floor, Rachel Carson State Office Building, 400 Market St., P. O. Box 8772, Harrisburg, PA 17105-8772, (717) 783-8411. Applications for projects must be mailed and received or postmarked by Sept. 15.
The Rendell administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his newsletter, visit www.governor.state.pa.us.
CONTACT: Teresa Candori (DEP) 717-787-1323 Chuck Ardo 717-783-1116SOURCE Pennsylvania Office of the Governor
Source: PR Newswire
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