The Maryland Energy Administration (MEA) is accepting applications for its 2019 energy storage tax credit program, designed to boost use of the resource among households and businesses in the state.
Maryland made national news in 2017 as the first state to pass a bill allowing taxpayers to claim an income tax credit on energy storage devices. In the program’s first year, 61 residential customers and one commercial customer took advantage of the tax credit.
“We are encouraged with the performance of the program in year one, knowing that building on current energy storage technology is key to the state’s renewable energy future,” said Mary Beth Tung, MEA Director.
The energy storage tax credit is available to residential and commercial taxpayers who install a qualifying energy storage system on their property in 2019. For this year, MEA made available $300,000 for residential tax credits and $450,000 for commercial tax credits. Maryland makes the awards on a first come, first served basis.
The energy storage tax credit is calculated as 30 percent of the total installed cost of the energy storage system for up to $5,000 for residential systems and $75,000 for commercial systems.
The deadline to apply is Jan. 15, 2020
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