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Renewable Energy Systems Tax Credit (Personal) (Utah)
Incentive/Active true  +
Incentive/Amt Residential: 25%<br /> Commercial wi
Residential: 25%<br /> Commercial wind, geothermal electric, and biomass systems 660 kW or greater 0.35¢/kWh (0.0035/kWh) for 4 years<br /> Other commercial technologies and commercial wind, geothermal electric, and biomass systems smaller than 660 kW: 10% of installed cost<br /> Photovoltaic systems 2 MW or greater placed in service on or after January 1, 2015: 0.35¢/kWh (0.0035/kWh) for 4 years<br /> Photovoltaic systems smaller than 660 kW placed in service on or after January 1, 2015: 10% of installed cost Photovoltaic systems between 660 kW and 2 MW placed in service on or after January 1, 2015: May choose either 0.35¢/kWh (0.0035/kWh) for 4 years or 10% of installed cost
/kWh) for 4 years or 10% of installed cost  +
Incentive/ApplDsc Commercial  + , Multi-Family Residential  + , Residential  +
Incentive/Auth2Code Utah Code 59-10-1014  +
Incentive/Auth2DtEff 01/01/01, amendments effective 01/01/07  +
Incentive/Auth2DtEnact 2001, amendments enacted 2007  +
Incentive/Auth2ExpireDt Not specified (see summary)  +
Incentive/Auth2Link http://le.utah.gov/~code/TITLE59/htm/59_10_101400.htm  +
Incentive/Auth3Code Utah Code 59-10-1106  +
Incentive/Auth3DtEff 01/01/01, amendments effective 01/01/07  +
Incentive/Auth3DtEnact 2001, amendments enacted 2007  +
Incentive/Auth3ExpireDt Not specified (see summary)  +
Incentive/Auth3Link http://le.utah.gov/~code/TITLE59/htm/59_10_110600.htm  +
Incentive/Auth4Code SB 224  +
Incentive/Auth4DtEff 2015-01-01  +
Incentive/Auth4DtEnact 2014-04-01  +
Incentive/Auth4Link http://le.utah.gov/~2014/bills/sbillenr/SB0224.pdf  +
Incentive/AuthCode UAC R362-2  +
Incentive/AuthLink http://www.rules.utah.gov/publicat/code/r362/r362-002.htm  +
Incentive/CarOvProv Residential: excess credit may be carried over for the next four years<br /> Commercial: may not be carried forward or back.  +
Incentive/Cont2Addr 210 North 1950 West  +
Incentive/Cont2Dept Utah State Tax Commission  +
Incentive/Cont2Name Public Information  +
Incentive/Cont2Phone (801) 297-2200  +
Incentive/Cont2Phone2 (800) 662-4335  +
Incentive/Cont2Place Salt Lake City, Utah  +
Incentive/Cont2Website http://tax.utah.gov/index.html  +
Incentive/Cont2Zip 84134  +
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 Not specified  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/EquipReqs System must be in compliance with all applicable performance and safety standards; must obtain certification from the State Energy Program; individuals who wish to design their own system may be exempt from certain system requirements.  +
Incentive/ExpireDtString Not specified (see summary)  +
Incentive/ImplSector State/Territory  +
Incentive/MaxInc Residential: 2,000<br /> Commercial wind, geothermal electric, and biomass systems 660 kW or greater: no limit<br /> Other commercial systems: 50,000  +
Incentive/Name Renewable Energy Systems Tax Credit (Personal)  +
Incentive/ProgAdmin State Energy Program, State Tax Commission  +
Incentive/StartDateString 01/01/01, amendments effective 01/01/07  +
Incentive/Summary Utah's income tax credit for renewable ene
Utah's income tax credit for renewable energy systems includes provisions for both residential and commercial applications. The Utah Office of Energy Development administers the tax credit and has responsibility for revising the tax credit rules and certifying systems as eligible for the credit. [http://le.utah.gov/~2007/bills/sbillenr/sb0223.pdf Legislation] enacted in 2007 extended these tax credits through at least 2012. On or before this time, and every five years thereafter, the Utah Tax Review Commission must review the tax credit and make recommendations as to whether the tax credit should be continued, modified, or repealed. This legislation also expanded the tax credit language to include geothermal resources, and modified the credit calculation for large wind, biomass, and geothermal electric systems. The revised tax credit is applicable to systems placed in service on or after January 1, 2007. Taxpayers wishing to use this tax credit must first apply through the Utah State Energy Program before claiming the tax credit against their Utah state taxes.<br> <br> '''Residential Systems:'''<br> The individual income tax credit for residential systems is 25% of the reasonable installed system costs up to a maximum credit of $2,000 per residential unit. The residential credit is nonrefundable, but unused credit may be carried over up to four years. A non-business entity that leases a residential system is eligible for the credit and may use the credit for no more than seven years from the initiation of the lease.<br> <br> Eligible residential systems include active and passive solar thermal systems; solar electric systems; wind turbines; hydro (water) energy; geothermal heat pumps; direct-use geothermal; and biomass. Note that eligible biomass systems must produce either fuel or electricity. Biomass heating systems are not eligible.<br> <br> Under the [http://le.utah.gov/~code/TITLE59/htm/59_07_061400.htm corporate tax credit language], a builder can take a tax credit for the installation of a renewable energy system on a residential unit.<br> <br> '''Commercial Systems''':<br> The tax credit for commercial systems is structured as a refundable credit. Eligible commercial systems include active and passive solar thermal systems; solar electric systems; wind turbines; hydro (water) energy; geothermal heat pumps; direct-use geothermal; and geothermal electricity; and biomass systems. Note that eligible biomass systems must produce either fuel or electricity. Biomass heating systems are not eligible. Renewable energy systems may be used to supply energy to a commercial unit or as a commercial enterprise selling the energy. <u>Investment Tax Credit</u><br> For wind, geothermal electric, and biomass systems with a total capacity of <u>less than 660 kW</u> and for all other eligible renewable energy systems of any size, the credit is worth 10% of the reasonable installed costs up to $50,000. A business entity that leases a commercial system is eligible for the credit and may use the credit for no more than seven years from the initiation of the lease. For photovoltaic (PV) systems placed in service on or after January 1, 2015, the maximum size for the investment tax credit is 2 megawatts (MW). Until that date, PV systems of any size can claim the investment tax credit. <u>Production Tax Credit</u><br> For commercial wind, geothermal electric, and biomass systems with a total capacity of <u>660 kW or greater</u>, the credit is 0.35¢/kWh ($0.0035/kWh) for four years. The credit may not be carried forward or back. A business entity that leases a commercial system is also eligible for the credit. For photovoltaic (PV) systems placed in service on or after January 1, 2015, systems greater than 2 megawatts (MW) can only claim the production tax credit, and systems between 660 kW and 2 MW can choose either the production tax credit or the investment tax credit. Until that date, PV systems of any size can only claim the investment tax credit.
can only claim the investment tax credit.  +
Incentive/TechDsc Anaerobic Digestion + , Biomass + , Geothermal Electric + , Ground Source Heat Pumps + , Hydroelectric energy + , Landfill Gas + , Passive Solar Space Heat + , Photovoltaics + , Solar Pool Heating + , Solar Space Heat + , Solar Thermal Electric + , Solar Thermal Process Heat + , Solar Water Heat + , Wind +
Incentive/Type Personal Tax Credit +
OpenEI/PageDescription Renewable Energy Systems Tax Credit (Personal): energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , Utah  + , Personal Tax Credit  + , State Energy Program  + , State Tax Commission  +
Place Utah: Energy Resources +
Website http://www.energy.utah.gov/renewable_energy/renewable_incentives.htm#retaxcred  +
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Renewable Energy Systems Tax Credit (Personal) (Utah) + , Renewable Energy Systems Tax Credit (Personal) (Utah) +
Categories Financial Incentive Programs , Incentive with Contacts , Incentive with Authorities , Pages with reference errors
Modification date
"Modification date" is a predefined property that corresponds to the date of the last modification of a subject and is provided by Semantic MediaWiki.
23:53:57, 12 February 2015  +
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