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Florida provides a corporate income tax credit equal to one cent for each kilowatt hour of electricity produced from new renewable energy facilities in the state.
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Florida
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Renewable Energy Production Tax Credit
The Florida renewable energy production credit is intended to encourage the development and expansion of facilities that produce electricity from renewable energy in the state. The new law, effective January 1, 2008, provides a corporate income tax credit equal to one cent ($0.01) for each kilowatt hour of electricity produced from renewable energy sources at a new Florida facility. A new facility must have been placed into service after May 1, 2006. For an expanded facility, the same credit is available for increased production of more than five percent (compared to the 2005 calendar year) when sold to unrelated parties. Renewable energy is defined as electricity produced from biomass (including landfill gas), hydrogen, solar energy, geothermal energy, wind energy, ocean energy, waste heat, or hydroelectric power.
In order to claim the Florida Renewable Energy Production Credit, a corporation must file an application using the form F-1193 with the Florida Department of Revenue on or before the first day of February for an allocation of the tax credit. The total amount of credit authorized is $5 million per state fiscal year. If the approved credit allocation is not fully used in one year because of insufficient tax liability on the part of the taxpayer, the unused amount may be carried forward for a period of up to five years.
In 2006, the Florida Legislature earmarked $5 million to specifically support the development of bioenergy projects, such as landfill gas energy projects.
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Renewable Energy Technologies Grant Program
In June 2006, Governor Bush signed into law the Florida Renewable Energy Technologies and Energy Efficiency Act, which is designed to reduce Florida's dependence on imported oil, spur economic growth, and increase investment in renewable energy resources. One section of the Act promotes investments in cleaner fuels to diversify Florida's energy supply and economy. The Renewable Energy Technologies Grant Program provides matching grants for research, demonstration and commercialization projects associated with the development of alternative fuel vehicles, renewable energy systems, and other “next generation” energy technologies. The Act divides the grant program into two categories: renewable energy technologies and bioenergy projects. Landfill gas projects are eligible under both the renewable energy and bioenergy grant programs.
LMOP State Partner Florida Department of Environmental Protection administers the grants. Grant proposals are evaluated by the state based on a number of different elements, including cost share percentage, economic development potential, energy efficiency, and how the project fosters public awareness of renewable energy technologies. Grants will be awarded at a maximum of $2.5 million per project.
Eligible applicants include:
- Florida municipalities and county governments,
- established for-profit companies licensed to do business in Florida,
- universities and colleges in Florida,
- utilities located and operating within Florida,
- not-for-profit organizations, and
- state agencies.
In 2006, the Florida Legislature appropriated $15 million for the grant program, with at least $5 million to support bioenergy projects and $10 million for projects that generate or utilize other renewable energy resources.
Florida defines beneficial uses of landfill gas as a recycling initiative eligible for this grant.
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Innovative Recycling and Waste Reduction Grants
In 1997, the Florida Legislature directed the Florida Department of Environmental Protection (DEP) to make grant funds available on a competitive basis for innovative programs related to recycling. Eligible organizations are local governments, special districts, or nonprofit organizations that have legal responsibility for solid waste management. According to Florida statute, landfill gas is considered solid waste, and proposals focused on recycling landfill gas into an energy source are therefore eligible for grants under this program.
Each year, DEP solicits grant proposals, which are ranked based on innovative use of technology or processes, cost-effectiveness, transferability, sustainability, and community support. Potential grant recipients are encouraged to demonstrate local support for grant proposals by the commitment of cash or in-kind matching funds. The program does not have any minimum or maximum grant size requirement. Typically, the deadline for grant applications is in early September. DEP evaluates and prioritizes the annual grant proposals and present the annual prioritized list of projects to be funded to the Governor and the Legislature as part of its annual budget request.
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