Energy Savings Tax Credit (Personal) (Indiana)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Energy Savings Tax Credit (Personal)|
|Incentive Type||Personal Tax Credit|
|Applicable Sector||Commercial, Residential|
|Eligible Technologies||Central Air conditioners, Furnaces, Programmable Thermostats, Water Heaters|
|Incentive Inactive Date||2011-03-01|
|Energy Category||Energy Efficiency Incentive Programs|
|Amount||20% of qualified expenditures|
|Carryover Provisions||Carryover not permitted|
|Equipment Requirements||Equipment must be Energy Star qualified|
|Maximum Incentive||100 per taxable year|
|Program Administrator||Indiana Department of Revenue|
This tax credit is no longer available. Indiana offers a tax credit to individuals and small businesses for the costs associated with purchasing Energy Star qualified air conditioners, furnaces, programmable thermostats and water heaters (collectively heating and cooling equipment). The credit may be claimed against the state income tax, insurance premium tax, or financial institutions tax. The amount of the tax credit is set at 20% of the expenditures for qualified heating and cooling equipment up to $100 per taxable year. Credits in excess of a taxpayer's liability for a given year may not be refunded, carried over to succeeding years, or carried back to prior years.
Pass through entities such as partnerships and limited liability corporations (LLC) are permitted to pass the tax credit to individual partners or shareholders based on the individual's share of the entity's distributable income. Individuals using this option remain entitled to take an additional tax credit for their own personal qualified energy savings expenditures, but may not take more than one tax credit for the same project.
It is important to note that the energy savings tax credit can only be claimed for the 2009 and 2010 tax years. The total value of all credits granted under this law cannot exceed $1 million per fiscal year.
|Contact Name||Public Information|
|Department||Indiana Department of Revenue|
|Address||100 N Senate Ave|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Ind. Code § 6-3.1-31.5|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.