Renewable Energy Tax Credit for Manufacturers (Personal) (Arizona)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Arizona

Name Renewable Energy Tax Credit for Manufacturers (Personal)
Incentive Type Personal Tax Credit
Applicable Sector Industrial, Manufacturers
Eligible Technologies Solar Thermal Electric, Photovoltaics, Landfill Gas, Wind, Biomass, Anaerobic Digestion, Fuel Cells using Renewable Fuels
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount 1 million per year for five years for each renewable energy facility

Carryover Provisions Excess credit may be carried forward for up to 5 years


Eligible System Size Systems must be at least 20 MW or a typical annual generation of at least 40,000 MWh;

To qualify for a credit, the taxpayer must make a minimum investment of 300 million in new renewable energy facilities


Equipment Requirements At least 90% of the energy produced by the system must be used for self-consumption
Start Date 2014-07-24
Expiration Date 2025-12-31






Maximum Incentive 5 million per taxpayer per year;

Aggregate cap of 10 million per year for all taxpayers combined





Program Budget $10 million per year






Website http://www.azdor.gov/TaxCredits/RenewableEnergyforSelfConsumption.aspx
Date added to DSIRE 2014-06-18
Last DSIRE Review 2014-10-10



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


Summary

SB 1484 of 2014 provides a tax credit for new renewable energy systems that produce energy for self-consumption and are used primarily for manufacturing. Eligible systems must have a capacity of at least 20 megawatts (MW) or have a typical annual generation of at least 40,000 megawatt-hours (MWh). In order to qualify for a tax credit, the taxpayer must invest at least $300 million in new renewable energy facilities. The tax credit is worth $1 million per year for five years for each facility up to $5 million per taxpayer per year.


Taxpayers must first apply to the Department of Revenue on a form prescribed by the Department. The Department will preapprove taxpayers on a first come, first served basis until it has preapproved a total of $10 million credits in each year. Program guidelines and application for preapproval of the credit are available here.


For the purposes of this tax credit, renewable energy includes a variety of biomass resources, solar thermal electric, photovolatics, and wind.


Incentive Contact

Contact Name Darlene Teller
Department Arizona Department of Revenue
Division Office of Economic Research & Analysis
Address 1600 W. Monroe

Place Phoenix, Arizona
Zip/Postal Code 85007
Phone (602) 716-6436


Email dteller@azdor.gov

     
     

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

Authority 1: SB 1484
Date Effective 2014-07-24
Date Enacted 2014-04-11
Expiration Date 2025-12-31


















  • 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"