Difference between revisions of "Alternative Energy Development Incentive (Personal) (Utah)"

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|Place=Utah
 
|Place=Utah
 
|Incentive/Type=Personal Tax Credit
 
|Incentive/Type=Personal Tax Credit
|Incentive/Name=Alternative Energy Development Incentive (Personal) (Utah)
+
|Incentive/Name=Alternative Energy Development Incentive (Personal)
|Incentive/UserSource=DSIRE<ref name='DSIRE'>{{cite web | url=http://www.dsireusa.org | title=Database of State Incentives for Renewables and Efficiency (DSIRE)}}</ref>
 
 
|Incentive/Active=Yes
 
|Incentive/Active=Yes
|Incentive/ProgAdmin=Utah Governor's Office of Economic Development
 
|Incentive/StartDate=05/12/2009
 
 
|Website=http://goed.utah.gov/relocate/incentives/energy/
 
|Website=http://goed.utah.gov/relocate/incentives/energy/
 +
 +
|Incentive/ApplDsc=Commercial, Industrial
 +
|techdscRE=Solar Thermal Electric,Photovoltaics,Landfill Gas,Wind,Biomass,Hydroelectric,Geothermal Electric,CHP/Cogeneration,Small Hydroelectric
 
|Incentive/ImplSector=State/Territory
 
|Incentive/ImplSector=State/Territory
 
|Incentive/EnergyCat=Renewable Energy Incentive Programs
 
|Incentive/EnergyCat=Renewable Energy Incentive Programs
|techdscEE=
+
|Incentive/Summary=
|techdscRE=Biomass, Geothermal Electric, Hydroelectric, Photovoltaics, Small Hydroelectric, Small Wind, Solar Thermal Electric, Wind
+
The Alternative Energy Development Incentive (AEDI) is a post-performance non-refundable tax credit for 75% of new state tax revenues (including, state, corporate, sales and withholding taxes) over the life of the project, or 20 years, whichever is less. The actual amount and duration of an incentive is determined by the Office of Energy Development (OED) on a case-by-case basis.
|Incentive/TechDscOther=Other Non-Renewable Alternative Energy Resources (see summary for list)
 
|Incentive/ApplDsc=Commercial, Industrial
 
|Incentive/Summary=The Alternative Energy Development Incentive (AEDI) is a post-performance non-refundable tax credit for 75% of new state tax revenues (including, state, corporate, sales and withholding taxes) over the life of the project, or 20 years, whichever is less. The actual amount and duration of an incentive is determined by the Office of Energy Development (OED) on a case-by-case basis.
 
  
Eligible projects include the construction of electricity generation facilities of 2 megawatts or greater that utilize hydroelectric, solar, biomass, geothermal, and wind. It also includes energy derived from the following non-renewable energy sources: nuclear fuel, oil-impregnated diatomaceous earth, oil sands, oil shale, or petroleum coke. To qualify for an incentive, the project must generate new state revenue and new incremental jobs, and it must involve significant capital investment, or the creation of high paying jobs.
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Eligible projects include the construction of electricity generation facilities of 2 megawatts or greater that utilize hydroelectric, solar, biomass, geothermal, wind, or waste heat from an industrial facility or a power station in which an electric generator is driven through a process in which water is heated, turns into steam, and spins a steam turbine. It also includes energy derived from the following non-renewable energy sources: nuclear fuel, oil-impregnated diatomaceous earth, oil sands, oil shale, or petroleum coke. To qualify for an incentive, the project must generate new state revenue and new incremental jobs, and it must involve significant capital investment, or the creation of high paying jobs.
  
 +
 
To receive a tax credit, projects owners must first apply to the OED for a tax credit certificate and provide all the documents specified in Utah Code 63M-4-504. If the OED approves the application and issues a tax credit certificate, it will issue a duplicate copy to the state Tax Commission. To maintain eligibility for the tax credit, the project owners must:
 
To receive a tax credit, projects owners must first apply to the OED for a tax credit certificate and provide all the documents specified in Utah Code 63M-4-504. If the OED approves the application and issues a tax credit certificate, it will issue a duplicate copy to the state Tax Commission. To maintain eligibility for the tax credit, the project owners must:
  
 +
 
 
* Annually file a report with the OED showing the new state revenues generated by the alternative energy project during the taxable year for which they are seeking to receive a tax credit
 
* Annually file a report with the OED showing the new state revenues generated by the alternative energy project during the taxable year for which they are seeking to receive a tax credit
 
* Annually file a report with the OED prepared by an independent certified public accountant verifying the new state revenue
 
* Annually file a report with the OED prepared by an independent certified public accountant verifying the new state revenue
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* Retain records supporting a claim for a tax credit for at least four years
 
* Retain records supporting a claim for a tax credit for at least four years
  
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|References=DSIREDatabase of State Incentives for Renewables and Efficiency<ref name='DSIRE'>{{cite web | url=http://www.dsireusa.org| title=Database of State Incentives for Renewables and Efficiency}}</ref>
 
 
<b>Background</b>
 
 
 
[http://le.utah.gov/~2009/bills/hbillenr/hb0430.pdf HB 430], signed in March 2009, created a system for the Governor's Office of Economic Development (GOED), in collaboration with local governments, to provide incentives to renewable energy producers and manufacturers who locate their projects in Utah. Originally titled the Renewable Energy Development Incentive (REDI), the name was changed by [http://le.utah.gov/~2010/bills/sbillenr/sb0242.pdf SB 242] of 2010 to the Alternative Energy Development Incentive (AEDI). In addition to the name change, SB 242 expanded eligibility under the program to other forms of "alternative energy" including petroleum coke, shale oil, nuclear fuel, tar sands, and oil-impregnated diatomaceous earth. [http://le.utah.gov/~2012/bills/sbillenr/SB0065.pdf SB 65] of 2012 made numerous more changes to this credit. It removed a requirement that the project must be developed in a state-appointed "alternative energy zone", removed a requirement that a local government must also provide development incentives, removed incentives under this program for equipment manufacturing, and designed a separate incentive for equipment manufacturing.
 
|References=Database of State Incentives for Renewables and Efficiency (DSIRE)<ref name='DSIRE'>{{cite web | url=http://www.dsireusa.org| title=Database of State Incentives for Renewables and Efficiency (DSIRE)}}</ref>
 
|DSIRE/LstUpdt=10/19/2012
 
|Incentive/DsireLstSubModSummaryUpdt=10/19/2012
 
 
|DSIRE/Id=UT39F
 
|DSIRE/Id=UT39F
 +
|DSIRE/DtAdd=2012-10-19
 +
|DSIRE/LstUpdt=2014-04-07
 +
|Incentive/DsireSyncDate=2014-12-17 02:13:45
 
|Incentive/Amt=75% of new state tax revenues (including, state, corporate, sales and withholding taxes) over the life of the project or 20 years, whichever is less.
 
|Incentive/Amt=75% of new state tax revenues (including, state, corporate, sales and withholding taxes) over the life of the project or 20 years, whichever is less.
 
|Incentive/MaxInc=75% of new state tax revenues (including, state, corporate, sales and withholding taxes) over the life of the project or 20 years, whichever is less.
 
|Incentive/MaxInc=75% of new state tax revenues (including, state, corporate, sales and withholding taxes) over the life of the project or 20 years, whichever is less.
 
|Incentive/EligSysSize=Minimum: 2 MW
 
|Incentive/EligSysSize=Minimum: 2 MW
|Incentive/Terms=
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|Incentive/ProgAdmin=Utah Governor's Office of Economic Development
|Incentive/OwnRenewEnrgyCrdts=
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|Incentive/StartDate=2009-05-12
 
}}
 
}}
 +
 
{{Incentive Contact
 
{{Incentive Contact
|Incentive/ContName=Jeffrey Barrett
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|Incentive/ContCid=4988
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|Incentive/ContName=Denise Beaudoin Brems
 
|Incentive/ContDept=Office of Energy Development
 
|Incentive/ContDept=Office of Energy Development
|Incentive/ContAddr=195 N 1950 West, 2nd Floor
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|Incentive/ContAddr=60 East South Temple Street, Suite 300
|Incentive/ContAddr2=PO Box 146100
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|Incentive/ContAddr2=PO Box 144845
 +
|Incentive/ContEmail=dbeaudoin@utah.gov
 
|Incentive/ContPlace=Salt Lake City, Utah
 
|Incentive/ContPlace=Salt Lake City, Utah
|Incentive/ContZip=84116
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|Incentive/ContZip=84114
|Incentive/ContPhone=(801) 536-0210
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|Incentive/ContPhone=(801) 538-8718
|Incentive/ContEmail=jhbarrett@utah.gov
 
 
|Incentive/ContWebsite=http://www.energy.utah.gov/
 
|Incentive/ContWebsite=http://www.energy.utah.gov/
 
}}
 
}}
 +
 
{{Incentive Authority
 
{{Incentive Authority
 +
|Incentive/AuthLink=http://le.utah.gov/~code/TITLE63M/htm/63M04_050100.htm
 
|Incentive/AuthCode=Utah Code 63M-4-501, et seq.
 
|Incentive/AuthCode=Utah Code 63M-4-501, et seq.
|Incentive/AuthLink=http://le.utah.gov/~code/TITLE63M/htm/63M04_050100.htm
+
|Incentive/Auth2Link=http://le.utah.gov/code/TITLE59/htm/59_10_102900.htm
 
|Incentive/Auth2Code=Utah Code 59-10-1029
 
|Incentive/Auth2Code=Utah Code 59-10-1029
|Incentive/Auth2Link=http://le.utah.gov/code/TITLE59/htm/59_10_102900.htm
+
|Incentive/Auth3Link=http://www.rules.utah.gov/publicat/code/r362/r362-001.htm
 +
|Incentive/Auth3Code=UAC 362-1
 +
|Incentive/Auth4Link=http://le.utah.gov/~2014/bills/sbillenr/SB0242.pdf
 +
|Incentive/Auth4Code=SB 242
 +
|Incentive/Auth4DtEnact=2014-04-01
 
}}
 
}}
 +
 +
 
{{DsireReference}}
 
{{DsireReference}}
 
{{ReferencesHeader}}
 
{{ReferencesHeader}}
{{Incentive/QuantHeader}}
 
{{Incentive/QuantNotes
 
|Incentive/QuantNotes=Tax incentive is not based on project cost, but 75% of new state tax revenues generated (including, state, corporate, sales and withholding taxes) over the life of the project  or 20 years, whichever is less. Tables here are irrelevant to this incentive.
 
}}
 
{{DsireQuantReference}}
 
{{Incentive/QuantReferencesHeader}}
 
 
{{SetHeaderTabs}}
 
{{SetHeaderTabs}}

Latest revision as of 11:51, 12 February 2015

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Utah


Name Alternative Energy Development Incentive (Personal)
Incentive Type Personal Tax Credit
Applicable Sector Commercial, Industrial
Eligible Technologies Solar Thermal Electric, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Electric, CHP/Cogeneration, Small Hydroelectric
Active Incentive Yes
Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount 75% of new state tax revenues (including, state, corporate, sales and withholding taxes) over the life of the project or 20 years, whichever is less.



Eligible System Size Minimum: 2 MW


Start Date 2009-05-12




Maximum Incentive 75% of new state tax revenues (including, state, corporate, sales and withholding taxes) over the life of the project or 20 years, whichever is less.






Program Administrator Utah Governor's Office of Economic Development
Website http://goed.utah.gov/relocate/incentives/energy/


References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

The Alternative Energy Development Incentive (AEDI) is a post-performance non-refundable tax credit for 75% of new state tax revenues (including, state, corporate, sales and withholding taxes) over the life of the project, or 20 years, whichever is less. The actual amount and duration of an incentive is determined by the Office of Energy Development (OED) on a case-by-case basis.


Eligible projects include the construction of electricity generation facilities of 2 megawatts or greater that utilize hydroelectric, solar, biomass, geothermal, wind, or waste heat from an industrial facility or a power station in which an electric generator is driven through a process in which water is heated, turns into steam, and spins a steam turbine. It also includes energy derived from the following non-renewable energy sources: nuclear fuel, oil-impregnated diatomaceous earth, oil sands, oil shale, or petroleum coke. To qualify for an incentive, the project must generate new state revenue and new incremental jobs, and it must involve significant capital investment, or the creation of high paying jobs.


To receive a tax credit, projects owners must first apply to the OED for a tax credit certificate and provide all the documents specified in Utah Code 63M-4-504. If the OED approves the application and issues a tax credit certificate, it will issue a duplicate copy to the state Tax Commission. To maintain eligibility for the tax credit, the project owners must:


  • Annually file a report with the OED showing the new state revenues generated by the alternative energy project during the taxable year for which they are seeking to receive a tax credit
  • Annually file a report with the OED prepared by an independent certified public accountant verifying the new state revenue
  • Provide the OED with any information required by the OED to certify the economic life of the alternative energy project, which may include a power purchase agreement, a lease, or a permit; and
  • Retain records supporting a claim for a tax credit for at least four years

Incentive Contact

Contact Name Denise Beaudoin Brems
Department Office of Energy Development
Address 60 East South Temple Street, Suite 300
Address 2 PO Box 144845
Place Salt Lake City, Utah
Zip/Postal Code 84114
Phone (801) 538-8718


Email dbeaudoin@utah.gov
Website http://www.energy.utah.gov/



Authorities (Please contact the if there are any file problems.)

Authority 1: Utah Code 63M-4-501, et seq.



Authority 2: Utah Code 59-10-1029



Authority 3: UAC 362-1



Authority 4: SB 242
Date Enacted 2014-04-01















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency" Cite error: Invalid <ref> tag; name "DSIRE" defined multiple times with different content