Regulation .06 Amount of Tax Credit.
Regulation .06 Amount of Tax Credit.LinkCopy Citation
An individual or corporation that receives a credit certificate from the Administration may claim a credit against the individual’s or corporation’s State income tax for a specified taxable year in an amount that may not exceed the lessor of:
A.
For a qualifying energy storage system installed:
(1)
On a residential property, $5,000;
(2)
On a commercial property, $75,000; or
(3)
30 percent of the total installed costs of the qualifying energy storage system.
B.
The Administration may bifurcate the annual program budget to allow for a funding allocation for both residential and commercial participants.