To: The Colorado State House, The Colorado State Senate, and Governor Jared Polis
Support Colorado Refundable Income Tax Credit for Small Wind
Please support HB 15-1332, the Refundable Income Tax Credit for Small Wind, Hydro and Biomass. Colorado's large urban areas are primarily served by investor owned utilities with a large concentration of rooftop solar PV and robust incentives. Unfortunately, these incentives are not as strong in Colorado's rural areas and small municipal utility regions. These areas also have solid small wind, hydro and biomass resources. This credit would reduce the cost of the upfront investment to accelerate the payback and enable diversification of family, farm and small business income. Homeowners and businesses big and small want a way to reduce their utility bills and renewable distributed generation supplies a solution.
Distributed generation technologies like small wind projects do not burden transmission lines because the energy is consumed where it is produced. These projects also help diversify our energy supply and relieve some of the burden on energy producers during peak energy times in the summer and winter.
The customers with the best land area resources to host distributed renewables are located on rural electric lines and pay the highest electric rates. These "behind the meter" or "on the customer's side" of the meter technologies also help the land or business owner when floods, fires and storms potentially cut off large portions of the grid by continuing to generate power.
We urge you to support HB 15-1332 and we thank you for your consideration.
Distributed generation technologies like small wind projects do not burden transmission lines because the energy is consumed where it is produced. These projects also help diversify our energy supply and relieve some of the burden on energy producers during peak energy times in the summer and winter.
The customers with the best land area resources to host distributed renewables are located on rural electric lines and pay the highest electric rates. These "behind the meter" or "on the customer's side" of the meter technologies also help the land or business owner when floods, fires and storms potentially cut off large portions of the grid by continuing to generate power.
We urge you to support HB 15-1332 and we thank you for your consideration.
Why is this important?
DWEA is supporting a rural small business, land-owner and farmer refundable tax credit of 30% or $50,000, whichever is less, for capital and installation costs of small scale renewable energy projects (small wind, micro-hydro and biomass) for rural electric co-operative and municipal utility customers.
● The installation must meet the requirements of Colorado's net-metering laws and interconnection standards for the type of utility that serves the customer. This credit is available to a variety of technologies – including small wind, micro-hydro, biomass, geothermal and more.
● Tax credit is available for taxable years beginning in 2015 through December 31, 2018.
● Refundable Income Tax Credit is up to $50,000 or 30%, whichever is less.
● Program is capped at $1 million/yr and is available to Coloradans on a first/come – first/serve basis.
● The installation must meet the requirements of Colorado's net-metering laws and interconnection standards for the type of utility that serves the customer. This credit is available to a variety of technologies – including small wind, micro-hydro, biomass, geothermal and more.
● Tax credit is available for taxable years beginning in 2015 through December 31, 2018.
● Refundable Income Tax Credit is up to $50,000 or 30%, whichever is less.
● Program is capped at $1 million/yr and is available to Coloradans on a first/come – first/serve basis.