1. Maryland's Pioneering Energy Storage Income Tax Credit Turns 2

    Maryland's Pioneering Energy Storage Income Tax Credit Turns 2

    In 2017, Maryland became the first state to pass legislation establishing an income tax credit for energy storage systems. Last month, the Maryland Energy Administration announced it was accepting applications for the state’s energy storage income tax credit for the 2019 tax year. The deadline for residential and commercial customers to submit applications is January 15, 2020. This year, up to $750,000 is available ($300,000 for residential customers, $450,000 for commercial customers) on a first-come, first-served basis. Tax credits are capped at 30 percent of the total installed system cost, or up to $5,000 for residential systems and up to $75,000 for commercial systems. Maryland’s energy storage income tax credit is funded at $750,000 annually through the 2022 tax year.

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