As of June 30, 2010, taxpayers may take a credit, apply for a refund of taxes paid, or apply for authority to make tax-exempt purchases of machinery and equipment used to produce electricity in a Certified Green Energy Production Facility.
Tennessee provides tax credits to industries in the green energy supply chain that invest more than $250 million into the state. The Department of Revenue, Department of Economic and Community Development as well as the Department of Environment and Conservation are authorized to certify “green energy supply chain manufacturers” as eligible for the Green Energy Tax Credit. The $1.5 million maximum credit is applied to a company's Franchise and Excise Tax liability.
A Certified Green Energy Production Facility is a facility certified by the Tennessee Department of Environment and Conservation (TDEC) as producing electricity for use and consumption on and off the premises using clean energy technology. Clean energy technology includes technology used to generate electricity from renewable energy sources such as geothermal, hydrogen, solar, and wind sources. Storage paired with clean energy technology is also included.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Tennessee |
| Incentive Type: | Industry Recruitment/Support |
| Web Site: | https://www.tn.gov/environment/sustainability/funding/green-energy.html |
| Administrator: | Tennessee Department of Revenue |
| Start Date: | 11/1/2009 |
| Eligible Renewable/Other Technologies: |
|
| Incentive Amount: | The incentive is based on how much less the manufacturer pays for electricity than the maximum certified rate. |
| Maximum Incentive: | Green Energy Tax Credit: $1,500,000/tax year for $250 million in capital investment |
| Terms: | The investment must equal at least $250 million within three years. The tax credit is applied against the Franchise and Excise Tax. |
| Name: | Tenn. Code § 67-4-2108 |
| Name: | Tenn. Code § 67-6-346 |
| Name: | Tenn. Code § 67-4-2004 |
| Name: | Heather Weldon |
| Organization: | Office of Sustainable Practices |
| Address: |
TN |
| Phone: | (615) 761-4250 |
| Email: | heather.weldon@tn.gov |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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