Clean Energy Tax Credit (Corporate) (Georgia)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Georgia

Name Clean Energy Tax Credit (Corporate)
Incentive Type Corporate Tax Credit
Applicable Sector Commercial, Industrial, Multi-Family Residential, Agricultural
Eligible Technologies Lighting, Lighting Controls/Sensors, Comprehensive Measures/Whole Building, Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Wind, Biomass, Geothermal Heat Pumps, Daylighting
Active Incentive No

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount Renewables: 35%

Lighting retrofit projects: 0.60/square foot of building
Energy-efficient products: 1.80/square foot of building


Carryover Provisions For credits allowed through the end of 2011, excess credit may be carried forward for five years from the close of the taxable year in which the clean energy property was installed. Credits allowed for 2012, 2013 or 2014 must be taken in four equal installments over four successive taxable years beginning with the taxable year in which the credit is allowed.




Equipment Requirements Solar thermal collectors must meet SRCC certification OG-100 or FSEC-GO-80. Solar thermal residential systems must meet SRCC OG-300 or FSEC-GP-5-80.
Start Date 2008-07-01
Expiration Date 2014-12-31






Maximum Incentive PV, solar thermal electric, active solar space heating, biomass, wind: 500,000

Solar hot water, Energy Star-certified geothermal heat pumps, lighting retrofit projects, energy-efficient products: 100,000;
Solar hot water, Energy Star-certified geothermal heat pumps, lighting retrofit projects, energy-efficient products: 100,000;





Program Budget $2.5 million annually through 12/31/2011; $5 million annually in 2012, 2013 and 2014





Program Administrator Georgia Department of Revenue
Website http://www.gefa.org/Index.aspx?page=423
Date added to DSIRE 2008-05-21
Last DSIRE Review 2014-07-29



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


Summary

NOTE: Due to a high level of interest, the Clean Energy Tax Credit annual funding of $5 million for years 2012, 2013 and 2014 has been fully allocated to compensate applicants wait listed from previous years. The Georgia Environmental Finance Authority is continuing to accept and process applications. If denied by the Georgia Department of Revenue, these applications will be added to a waiting list, prioritized by postmark, for possible credit allocation in a future year.

In May 2008, Georgia enacted legislation establishing personal and corporate tax credits for renewable energy equipment and certain energy-efficient equipment installed and placed into service. For renewable energy property used for any purpose other than single-family residential purposes, the tax credit is equal to 35% of the cost of the system (including installation), $0.60/square foot for lighting retrofit projects, and $1.80/square foot for energy-efficient products installed during construction. The credit is subject to various ceilings depending on the type of system or project. The maximum credit amount is the lesser of 35% of the system cost or the maximum dollar cap specified for the technology. The following credit limits for various technologies apply:

  • A maximum of $100,000 per installation for domestic solar water heating
  • A maximum of $500,000 per installation for photovoltaics (PV), solar thermal electric applications, active space heating, biomass equipment and wind energy systems
  • A maximum of $100,000 per installation for Energy Star-certified geothermal heat pumps
  • A maximum of $100,000 for lighting retrofit projects
  • A maximum of $100,000 for energy-efficient products installed during construction.

Leased systems are eligible for the credit. (In the case of a leased system, the cost is considered to be eight times the net annual rental rate, which is the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from sub-rentals.)

Before claiming the credit, the taxpayer must submit an application to the Georgia Department of Revenue for tentative approval, as the aggregate amount of tax credits -- both personal and corporate credits -- taken may not exceed $2,500,000 in any calendar year through December 31, 2011. The aggregate annual limit in 2012, 2013 and 2014 is $5 million. Tax credits are granted on a first-come, first-served basis and may not exceed the taxpayer's liability for that taxable year. Taxpayers who do not receive a full credit for an eligible system will be placed on a "priority list" for access to this credit in future years.

The credit must be taken for the taxable year in which the property is installed. For credits allowed through the end of 2011, any excess credit may be carried forward for five years from the close of the taxable year in which the clean energy property was installed. Credits allowed for 2012, 2013 or 2014 must be taken in four equal installments over four successive taxable years beginning with the taxable year in which the credit is allowed.

Solar hot water systems must be certified for performance by the Solar Rating Certification Corporation (SRCC), the Florida Solar Energy Center (FSEC) or a comparable entity approved by the tax authority. The equipment must meet the certification standards of SRCC OG-100 or FSEC-GO-80 for solar thermal collectors and/or SRCC OG-300 or FSEC-GP-5-80 for solar thermal residential systems.

This tax credit took effect July 1, 2008, and is scheduled to expire December 31, 2014.


Incentive Contact

Contact Name Taxpayer Services Division
Department Georgia Department of Revenue

Address 1800 Century Center Blvd, NE

Place Atlanta, Georgia
Zip/Postal Code 30345-3205
Phone (877) 423-6711


Email taxpayer.services@dor.ga.gov
Website https://etax.dor.ga.gov
     
     

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

Authority 1: O.C.G. § 48-7-29.14
Date Effective 2008-07-01
Date Enacted 5/14/2008 (subsequently amended)
Expiration Date 2014-12-31

Authority 2: H.B. 346
Date Effective 2011-01-01
Date Enacted 2011-05-11
Expiration Date 2014-12-31

Authority 3: Georgia Department of Revenue HB 670 Chart



















  • 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"