In Missouri, solar energy systems not held for resale are exempt from state, local, and county property taxes. As enacted in July 2013, the law does not define solar energy systems.
Nebraska allows for a refund of the sales and use taxes paid for a renewable energy system used to produce electricity for sale. Investment in qualified property of at least thirty million dollars or for the production of electricity by using one or more sources of renewable energy to produce electricity for sale as described in subdivision (1)(j) of section 77-5715, investment in qualified property of at least twenty million dollars. The law describes eligible sources of renewable energy as including, but not limited to, wind, solar, geothermal, hydroelectric, biomass, and transmutation of elements. This refund does not apply to
Connecticut municipalities are authorized, but not required, to offer a property tax exemption lasting up to 15 years for qualifying cogeneration systems installed on or after July 1, 2007 (see Conn. Gen. Stat. § 12-81 (63)). Municipalities that adopt an ordinance to provide such an exemption may require a payment in lieu of taxes from the property owner.
Beginning in October 2013, a municipality may also adopt an ordinance to exempt commercial or industrial Class I renewable resources*, certain hydropower facilities**, or solar thermal or geothermal renewable energy resources. Only facilities installed between January 1, 2010 and December 31, 2013
South Dakota allows for a reinvestment payment up to the total amount of sales and use taxes paid for certain new or expanded renewable energy systems, equipment upgrades to existing systems, and manufacturing facilities that produce renewable energy equipment. S.B. 235 (2013) referred specifically to wind energy facilities, but also allows for "power generation facilities" and facilities defined by the Governor's Office of Economic Development (GOED) as targeted industries. Based on that authority, the GOED chose to extend this incentive to other types of renewable energy.
To qualify, the project costs associated with a new or expanded facility must exceed
The Iowa Economic Development Authority in partnership with the Iowa Area Development Group (IADG) is offering Iowa businesses and industries a low-interest financing option for energy efficiency improvements, renewable energy projects, energy management, and implementation plans. The establishment of the IADG Energy Bank Revolving Loan Fund is intended to provide an ongoing source of low interest financing for the implementation of cost-effective projects that will save energy and money, improve facilities and processes, and enhance job creation and profitability.
Under the Utah Industrial Facilities and Development Act, counties, municipalities, and state universities in Utah may issue Industrial Revenue Bonds (IRBs) to promote industrial development and manufacturing facilities. In 2013, Utah extended eligible projects to include energy efficiency upgrades and renewable energy systems. Municipalities may issue revenue bonds in order to finance eligible projects. Proceeds from the sale of bonds may be used to pay for or to reimburse the project owner, project user, or a lender for the costs of the project. With the added provision to allow reimbursement to lenders, the issuance of bonds may be used by
Note: In 2010, the Federal Housing Finance Agency (FHFA), which has authority over mortgage underwriters Fannie Mae and Freddie Mac, directed these enterprises against purchasing mortgages of homes with a PACE lien due to its senior status above a mortgage. Most residential PACE activity subsided following this directive; however, some residential PACE programs are now operating with loan loss reserve funds, appropriate disclosures, or other protections meant to address FHFA's concerns. Commercial PACE programs were not directly affected by FHFA’s actions, as Fannie Mae and Freddie Mac do not underwrite commercial mortgages. Visit PACENation for more information about PACE financing
South Carolina offers a ten percent income tax credit to the manufacturers of renewable energy operations.*
The income tax credit is allowed for up to sixty months beginning with the first taxable year for which the business or corporation is eligible to receive the credit, so long as the business or corporation becomes eligible to receive the credit no later than the tax year ending on December 31, 2020.
In order to qualify, a business must:
The Oregon Department of Energy (ODOE) periodically releases Opportunity Announcements for tax credits for energy conservation projects. Check ODOE's website for announcements and complete information.
Energy conservation projects include projects with investments for which the first year energy savings yields a simple payback period of greater than three years. Categories for solicitations include: Commercial Buildings; Renewable Thermal; Commercial, Agricultural and Industrial Processes; and Combined Heat and Power. Projects must intend to begin construction within 12 months of the award. Tax credits are worth up to 35% of the project costs. The tax credit is claimed over five years, with
The Oregon Department of Energy (ODOE) periodically releases Opportunity Announcements for tax credits for energy conservation projects. Check ODOE's website for announcements and complete information.
Energy conservation projects include projects with investments for which the first year energy savings yields a simple payback period of greater than three years. Categories for solicitations include: Commercial Buildings; Renewable Thermal; Commercial, Agricultural and Industrial Processes; and Combined Heat and Power. Projects must intend to begin construction within 12 months of the award. Tax credits are worth up to 35% of the project costs. The tax credit is claimed over five years, with 10%