{"id":1536,"date":"2018-02-13T10:31:26","date_gmt":"2018-02-13T15:31:26","guid":{"rendered":"http:\/\/news.maryland.gov\/mea\/?p=1536"},"modified":"2022-03-21T09:05:58","modified_gmt":"2022-03-21T13:05:58","slug":"maryland-energy-administration-offers-pilot-program-first-in-the-nation-energy-storage-tax-credit-program","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/mea\/2018\/02\/13\/maryland-energy-administration-offers-pilot-program-first-in-the-nation-energy-storage-tax-credit-program\/","title":{"rendered":"Maryland Energy Administration Offers Pilot Program: \u201cFirst in the Nation Energy Storage Tax Credit Program\u201d"},"content":{"rendered":"<p>FOR IMMEDIATE RELEASE<br \/>\nContact:\u00a0<a href=\"mailto:jahmai.sharp-moore@maryland.gov\" target=\"_blank\" rel=\"noopener\">Jahmai Sharp-Moore<\/a> | 443-694-3651<\/p>\n<p><strong>Baltimore, MD <\/strong>\u2013 The Maryland Energy Administration (MEA) is now accepting applications for the 2018 Energy Storage Tax Credit Program. The program, launched on January 1, 2018, is designed to encourage the deployment of energy storage systems in Maryland.<\/p>\n<p>\u201cMaryland is making our mark in the energy sector with this first in the nation, energy storage tax credit,\u201d said Mary Beth Tung, Director, Maryland Energy Administration. \u201cThis tax credit empowers all Marylanders to support grid resiliency and serves as a model for all other 49 states.\u201d<\/p>\n<p>This tax credit program is designed to provoke interest in the burgeoning energy storage market in Maryland. The program is available to eligible residential and commercial taxpayers who have installed a qualifying energy storage system on their residential or commercial property in Maryland during Tax Year 2018 (January 1 &#8211; December 31, 2018). MEA may award up to $750,000 dollars in energy storage tax credits on a first come, first served basis while funding is available.<\/p>\n<p>\u201cOur Energy Storage Tax Credit program, while a pilot, includes a wide range of storage technologies and encourages innovation in the energy storage arena,\u201d continued Tung.<\/p>\n<p>Currently, a total of $225,000 dollars has been reserved for residential taxpayers and $525,000 dollars has been reserved for commercial taxpayers. If either of the reserved money allocations become oversubscribed, eligible applicants will be placed onto a wait list as long as resources remains in the other financial reserve. The funding area allocations by category will be removed on October 1, 2018, and tax credits will be assigned to eligible applicants on the waitlist in the order the eligible applications were received. Residential and commercial applicants placed onto the waitlist in tax year 2018 cannot be carried over to tax year 2019. Under no circumstances will more than $750,000 dollars in energy storage tax credit certificates be awarded in a single tax year.<\/p>\n<p>More information on the energy storage tax credit and applications can be found on the MEA website, <a href=\"http:\/\/energy.maryland.gov\/business\/Pages\/EnergyStorage.aspx\">http:\/\/energy.maryland.gov\/business\/Pages\/EnergyStorage.aspx<\/a> .<\/p>\n<p>Disclaimer: The Maryland Energy Administration is not a tax office and any\/all program guidance should not be considered tax advice<u>. If you have any questions about Maryland State Income Taxes, please contact the Comptroller of Maryland<\/u> (http:\/\/www.marylandtaxes.gov), <u>or a professional tax advisor.<\/u><\/p>\n<p style=\"text-align: center\">###<\/p>\n<p><strong>Maryland Energy Administration<br \/>\n<\/strong>The mission of the Maryland Energy Administration (MEA) is to promote affordable, reliable and cleaner energy for the benefit of all Marylanders.\u00a0\u00a0To achieve its mission, MEA advises the Governor and General Assembly on matters relating to energy policy.\u00a0 MEA administers grant and loan programs to encourage clean energy technologies in all sectors of Maryland&#8217;s economy: Residential, Commercial, Agricultural, and Transportation. For more information about the Maryland Energy Administration, visit <a href=\"http:\/\/www.energy.maryland.gov\/\">www.energy.maryland.gov<\/a> and follow us on <a href=\"https:\/\/www.facebook.com\/MDEnergyAdministration\/\">Facebook<\/a>, <a href=\"https:\/\/twitter.com\/MDEnergy\">Twitter<\/a> and <a href=\"https:\/\/www.linkedin.com\/company-beta\/417595\/\">LinkedIn<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FOR IMMEDIATE RELEASE Contact:\u00a0Jahmai Sharp-Moore | 443-694-3651 Baltimore, MD \u2013 The Maryland Energy Administration (MEA) is now accepting applications for the 2018 Energy Storage Tax Credit Program. The program, launched on January 1, 2018, is designed to encourage the deployment of energy storage systems in Maryland. \u201cMaryland is making our<a href=\"https:\/\/news.maryland.gov\/mea\/2018\/02\/13\/maryland-energy-administration-offers-pilot-program-first-in-the-nation-energy-storage-tax-credit-program\/\">&nbsp;&nbsp;&#8230;Learn more<\/a><\/p>\n","protected":false},"author":143,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[25,10,26,4],"tags":[],"class_list":["post-1536","post","type-post","status-publish","format-standard","hentry","category-main","category-news","category-newsletters","category-press-releases"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/posts\/1536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/users\/143"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/comments?post=1536"}],"version-history":[{"count":5,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/posts\/1536\/revisions"}],"predecessor-version":[{"id":5866,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/posts\/1536\/revisions\/5866"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/media?parent=1536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/categories?post=1536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/tags?post=1536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}