Green Energy Tax Credit (Tennessee)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Tennessee

Name Green Energy Tax Credit
Incentive Type Industry Recruitment/Support
Applicable Sector Industrial
Eligible Technologies Component Manufacturing
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount The incentive is based on how much less the manufacturer pays for electricity than the maximum certified rate.







Start Date 2009-11-01







Maximum Incentive Green Energy Tax Credit: $1,500,000/tax year for $250 million in capital investment









Terms The investment must equal at least $250 million within three years. The tax credit is applied against the Franchise and Excise Tax.
Program Administrator Tennessee Department of Revenue
Website http://www.tn.gov/ecd/BD_business_tax_credit.html
Date added to DSIRE 2010-09-04
Last DSIRE Review 2012-11-05



References DSIRE[1]


Summary

Tennessee provides tax credits to industries in the green energy supply chain that invest more than $250 million into the state. The Department of Revenue, Department of Economic and Community Development as well as the Department of Environment and Conservation are authorized to certify “green energy supply chain manufacturers” as eligible for the Green Energy Tax Credit. The $1.5 million maximum credit is applied to a company's Franchise and Excise Tax liability.

In addition to the Green Energy Tax Credit, the Carbon Tax Credit is available. This is the only carbon tax credit in the United States and it provides "certified green energy supply chain manufacturers" with financial protection against any potential price that may be placed on carbon emissions by future legislation. To learn more about these credits, which can be applied against the sum total of the taxes imposed by the Franchise Tax Law compiled in this part and the Excise Tax Law, see this guide.


Incentive Contact

Contact Name Department of Revenue Information
Department Tennessee Department of Revenue

Address Andrew Jackson Building, Room 1200

Place Nashville, Tennessee
Zip/Postal Code 37242-1099
Phone (615) 741-2461


Email TN.Revenue@tn.gov
Website http://www.tennessee.gov/revenue/
Contact Name Molly Cripps
Department Tennessee Department of Economic and Community Development
Division Energy Division
Address 312 8th Avenue, North, 10th Floor
Address 2 William Snodgrass Tennessee Tower
Place Nashville, Tennessee
Zip/Postal Code 37243-0405
Phone (615) 741-2994
Phone 2 (615) 741-6671
Fax (615) 741-5070
Email molly.cripps@state.tn.us
Website http://www.tn.gov/ecd/CD_office_energy_division.html
     

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

Authority 1: Tenn. Code § 67-4-2109
Date Effective 11/2009

Expiration Date 1/2029

















  • 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 (DSIRE)"