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Alternative Energy Development Incentive (Personal) (Utah)
Incentive/Active true  +
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/ApplDsc Commercial  + , Industrial  +
Incentive/Auth2Code Utah Code 59-10-1029  +
Incentive/Auth2Link http://le.utah.gov/code/TITLE59/htm/59_10_102900.htm  +
Incentive/Auth3Code UAC 362-1  +
Incentive/Auth3Link http://www.rules.utah.gov/publicat/code/r362/r362-001.htm  +
Incentive/Auth4Code SB 242  +
Incentive/Auth4DtEnact 2014-04-01  +
Incentive/Auth4Link http://le.utah.gov/~2014/bills/sbillenr/SB0242.pdf  +
Incentive/AuthCode Utah Code 63M-4-501, et seq.  +
Incentive/AuthLink http://le.utah.gov/~code/TITLE63M/htm/63M04_050100.htm  +
Incentive/ContAddr 60 East South Temple Street, Suite 300  +
Incentive/ContAddr2 PO Box 144845  +
Incentive/ContDept Office of Energy Development  +
Incentive/ContEmail dbeaudoin@utah.gov  +
Incentive/ContName Denise Beaudoin Brems  +
Incentive/ContPhone (801) 538-8718  +
Incentive/ContPlace Salt Lake City, Utah  +
Incentive/ContWebsite http://www.energy.utah.gov/  +
Incentive/ContZip 84114  +
Incentive/EligSysSize Minimum: 2 MW  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/ImplSector State/Territory  +
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/Name Alternative Energy Development Incentive (Personal)  +
Incentive/ProgAdmin Utah Governor's Office of Economic Development  +
Incentive/StartDate May 12, 2009  +
Incentive/StartDateString 2009-05-12  +
Incentive/Summary The Alternative Energy Development Incenti …
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
m for a tax credit for at least four years  +
Incentive/TechDsc Solar Thermal Electric + , Photovoltaics + , Landfill Gas + , Wind + , Biomass + , Hydroelectric energy + , Geothermal Electric + , CHP/Cogeneration + , Small Hydroelectric +
Incentive/Type Personal Tax Credit +
OpenEI/PageDescription Alternative Energy Development Incentive (Personal): energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , Utah  + , Personal Tax Credit  + , Utah Governor's Office of Economic Development  +
Place Utah: Energy Resources +
Website http://goed.utah.gov/relocate/incentives/energy/  +
Categories Financial Incentive Programs , Pages with reference errors , Incentive with Contacts , Incentive with Authorities
Modification date
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17:51:44, 12 February 2015  +
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