New tax credit for wind power

WASHINGTON


However, if you installed a small windmill to generate energy for your home, you may qualify for a credit for up to $4,000 of the cost. Wind-produced energy was added for 2008 to the alternative energy sources under the Residential Energy Efficient Property Credit.

The credit is for 30 percent of the cost, including labor and materials, up to a maximum of $2,000 for solar or geothermal installations, $4,000 for wind, and $500 for each one-half kilowatt of fuel cell capacity.

AP