Green Energy Tax Credit (Tennessee)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Green Energy Tax Credit|
|Incentive Type||Industry Recruitment/Support|
|Eligible Technologies||Component Manufacturing|
|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.|
|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|
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.
|Contact Name||Department of Revenue Information|
|Department||Tennessee Department of Revenue|
|Address||Andrew Jackson Building, Room 1200|
|Contact Name||Molly Cripps|
|Department||Tennessee Department of Economic and Community Development|
|Address||312 8th Avenue, North, 10th Floor|
|Address 2||William Snodgrass Tennessee Tower|
|Phone 2||(615) 741-6671|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Tenn. Code § 67-4-2109|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.