Solar or Wind Energy System Credit - Corporate (California)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place California

Name Solar or Wind Energy System Credit - Corporate
Incentive Type Corporate Tax Credit
Applicable Sector Commercial, Industrial
Eligible Technologies Photovoltaics, Wind
Active Incentive No

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount 7.5%, or 4.50/W of rated peak generating capacity, whichever is less

Carryover Provisions Excess Credit may be carried forward seven years.


Eligible System Size Maximum system size of 200 kW peak generating capacity

Equipment Requirements Systems must be grid-connected; equipment must be new and in compliance with all applicable performance and safety standards and be CEC-certified; must carry a minimum 5-year warranty.
Start Date 2001-01-01
Expiration Date 2006-01-01






Maximum Incentive Not specified










Program Administrator California Franchise Tax Board
Website http://www.consumerenergycenter.org/renewable/tax_credit.html
Date added to DSIRE 2001-10-24
Last DSIRE Review 2006-01-03



References DSIRE[1]


Summary

California's Solar or Wind Energy System Credit (SB17x2) was approved by the Governor on October 8, 2001. The law provides personal and corporate income tax credits for the purchase and installation of photovoltaic or wind driven systems with a peak generating capacity of up to 200 kilowatts. After January 1, 2004 and before January 1, 2006, the tax credit is equal to 7.5% of the net installed system cost after deducting the value of any municipal, state, or federal sponsored financial incentives, or $4.50 per watt of rated peak generating capacity, whichever is less. A 15% tax credit was available Jan 1, 2001 - Dec 31, 2003.

The California Franchise Tax Board (FTB) administers the program in consultation with the California Energy Commission (Commission). The solar or wind system must be certified by the Commission. A five-year warranty is required of each system. Taxpayers claiming the credit cannot sell the electricity produced by the system, but may utilize California’s net metering law, if eligible.

California form FTB 3508 must be completed and attached to your California tax return. The Solar or Wind Energy System Credit Worksheet can be used to determine the tax credit amount. These form are available on the Commission's Website, which may be accessed by clicking on the Website listed above.


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

Authority 1: California Revenue and Taxation Code § 23684
Date Effective 2001-01-01
Date Enacted 2001-10-08
Expiration Date 2006-01-01

















Incentive Contact

Contact Name Tax Specialist - FTB
Department California Franchise Tax Board

Address PO Box 942840

Place Sacramento, California
Zip/Postal Code 94240-0040
Phone (800) 852-5711
Phone 2 (916) 845-6500


Website http://www.ftb.ca.gov/
Contact Name Information Specialist - CEC
Department California Energy Commission
Division Renewable Energy Program
Address 1516 Ninth Street, MS-45

Place Sacramento, California
Zip/Postal Code 95814
Phone (800) 555-7794
Phone 2 (916) 654-4058

Email renewable@energy.state.ca.us
Website http://www.consumerenergycenter.org
     

  • 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)"