Pa. Governor Introduces New Tax Credit For RE Production Projects

Gov. Edward G. Rendell, D-Pa., has announced the availability of a new tax credit designed to help Pennsylvanians create renewable energy.

The Alternative Energy Production Tax Credit Program provides a tax credit of 15% of the net cost of alternative energy production projects incurred between July 9, 2008, 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.

SOURCE: Office Of Gov. Edward Rendell

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