Incentives for Energy Independence Act Program
|Area of Interest||Renewable Energy|
Kentucky's tax incentive for large-scale renewable energy projects provides incentives to companies that build or renovate facilities that utilize renewable energy. Companies may receive a sales tax incentive of up to 100 percent of the Kentucky sales and use tax paid (on or after the activation date) on materials, machinery, and equipment used to construct, retrofit, or upgrade an eligible project.
A renewable energy facility is defined as one that generates at least 1 megawatt from biomass, wind, landfill gas, or similar renewable resources. The electricity must be sold to an unrelated party. The minimum investment in any renewable energy facility must be $1 million in capital expenditure which is defined to include various non-capital costs such as labor.
|Eligible Organizations||Commercial/Industrial Business|
|How to Apply||Prior to making any capital investments in a project, each eligible company must submit an application for incentives to the Kentucky Economic Development Finance Authority. There is a $1,000 fee to apply.|
|For More Information||http://www.thinkkentucky.com|
|Primary Contact||Don Goodin
Kentucky Cabinet for Economic Development
Department of Financial Incentives
Old Capitol Annex
300 West Broadway
Frankfort, KY 40601