Business Energy Investment Tax Credit

Incentive type: 
Renewable Energy
Technologies: 

Solar, Wind, Geothermal, Fuel Cells, Microturbines, Energy storage systems for use with electric or hybrid-electric motor vehicles, Electric grids to support renewable energy storage and transmission, Property designed for carbon dioxide capture and sequestration, Other advanced energy property designed to reduce greenhouse gas emissions. 

Date: 

Expires December 31, 2016.

Sectors: 
Agricultural
Amount: 

30% of property that is part of a qualified facility, qualified fuel cell property, solar property, or qualified small wind property; 10% of all other property.

Maximum incentive of $1,500 per 0.5 kW for qualified fuel cell property, $200 per kW for qualified microturbine property, 50 MW for CHP property, with limitations for large systems.

Contact Information: 

address>U.S. Internal Revenue Service
1111 Constitution Avenue, N.W.
Washington, DC 20224

Phone: (800) 829-1040 
Web Site: http://www.irs.gov

The Energy Improvement and Extension Act and American Recovery and Reinvestment Act expands the investment tax credit to make provisions for renewable energy s.  In general, tax credits are available to eligible renewable energy and energy efficient systems placed in service on or before December 31, 2016.  

Additional information and details can be found on IRS form 3468 here and in U.S. Code 26 USC § 48

Note:  The American Recovery and Reinvestment Act allows those eligible for the Renewable Electricity Production Tax Credit to opt for the Business Energy Investment Tax Credit or receive a Department of Treasury Renewable Energy Grant.  Grants from the Treasury Department are only available to systems in which construction began before December 31, 2010.