{"id":5908,"date":"2022-03-28T09:43:41","date_gmt":"2022-03-28T13:43:41","guid":{"rendered":"https:\/\/news.maryland.gov\/mea\/?p=5908"},"modified":"2022-03-28T09:43:43","modified_gmt":"2022-03-28T13:43:43","slug":"maryland-launches-tax-year-2022-energy-storage-income-tax-credit","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/mea\/2022\/03\/28\/maryland-launches-tax-year-2022-energy-storage-income-tax-credit\/","title":{"rendered":"Maryland Launches Tax Year 2022 Energy Storage Income Tax Credit"},"content":{"rendered":"\n<p><span style=\"font-weight: 400\">The Maryland Energy Administration (MEA) has opened the application period for the Tax Year 2022 (TY 2022)\u00a0<\/span><a href=\"https:\/\/energy.maryland.gov\/business\/Pages\/EnergyStorage.aspx\"><span style=\"font-weight: 400\">Maryland Energy Storage Income Tax Credit Program<\/span><\/a><span style=\"font-weight: 400\">. This program is designed to encourage the deployment of energy storage systems in Maryland. In Tax Year 2021, MEA issued 164 residential and commercial tax credits certificates for energy storage systems totaling more than 1.99 megawatts and 3.77 megawatt-hours.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWe\u2019re excited to announce the continuation of the nation\u2019s first energy storage income tax credit after issuing all funds in TY2021\u201d<\/span><span style=\"font-weight: 400\">, explained Mary Beth Tung, Director of the Maryland Energy Administration. \u201cThe energy storage income tax credit is an undisputed success for the state and our residents.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">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 TY 2022 (January 1 \u2013 December 31, 2022). MEA may award up to $750,000 dollars in energy storage tax credits on a first-come, first-served basis\u00a0while tax credits are available. Tax credits are calculated as 30 percent of the total installed cost of the energy storage system, up to $5,000 for residential systems and $150,000 for commercial systems, whichever is lower.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The TY 2022 online application is available now. The deadline to apply is January 15, 2023 at 5:00 PM EDT. For more information, visit the Maryland Energy Storage Income Tax Credit\u00a0Program <\/span><a href=\"https:\/\/energy.maryland.gov\/business\/Pages\/EnergyStorage.aspx\"><span style=\"font-weight: 400\">online<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><b>Disclaimer:<\/b><span style=\"font-weight: 400\"> The Maryland Energy Administration is not a tax office and any\/all program guidance should not be considered tax advice. If you have any questions about your Maryland State Income Taxes, please contact the Comptroller of Maryland (http:\/\/www.marylandtaxes.gov),\u00a0or a professional tax advisor.<\/span><\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Maryland Energy Administration (MEA) has opened the application period for the Tax Year 2022 (TY 2022)\u00a0Maryland Energy Storage Income Tax Credit Program. This program is designed to encourage the deployment of energy storage systems in Maryland. In Tax Year 2021, MEA issued 164 residential and commercial tax credits certificates<a href=\"https:\/\/news.maryland.gov\/mea\/2022\/03\/28\/maryland-launches-tax-year-2022-energy-storage-income-tax-credit\/\">&nbsp;&nbsp;&#8230;Learn more<\/a><\/p>\n","protected":false},"author":213,"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":[42,10],"tags":[5,237],"class_list":["post-5908","post","type-post","status-publish","format-standard","hentry","category-blog","category-news","tag-energy","tag-energy-storage-tax-credit"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/posts\/5908","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\/213"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/comments?post=5908"}],"version-history":[{"count":2,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/posts\/5908\/revisions"}],"predecessor-version":[{"id":5910,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/posts\/5908\/revisions\/5910"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/media?parent=5908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/categories?post=5908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/mea\/wp-json\/wp\/v2\/tags?post=5908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}