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Incentive Detail

Renewable Energy Income Tax Credit
Eligible States	UT
Type	Tax Credit
Area of Interest	Renewable Energy
Description	Utah offers state income tax credits for renewable energy systems placed into service on or after January 1, 2007. Residential systems receive 25 percent of equipment and installation cost (maximum of $2,000 per residential unit). Eligible biomass systems under the residential program must produce either fuel or electricity. Commercial systems receive a 10 percent tax credit (maximum of $50,000) for wind, geothermal electric, and biomass systems less than 660 kilowatts. For systems with a total capacity of 660 kilowatts or greater, the commercial tax credit is $0.35 per kilowatt-hour for four years. Entities which lease eligible systems are also eligible for the credit.
Eligible Organizations	Livestock Producer, Commercial/Industrial Business, Residential, Small Business
How to Apply	To receive a tax credit for installing a renewable energy system, a taxpayer must submit an application to the Utah Geological Survey’s State Energy Program for certification of a system’s eligibility and the amount of any tax credit that may be claimed. When a tax credit has been certified, the taxpayer will receive a completed Utah State Tax Commission Form TC-40E that the taxpayer may use to document a tax credit claimed on his or her tax return.
For More Information	http://geology.utah.gov/sep/incentives/rincentives.htm#retaxcred
Primary Contact	Elise Brown State Energy Program 1594 West North Temple, Suite 3110 PO Box 146100 Salt Lake City, UT 84114 (801) 537-3365 elisebrown@utah.gov

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