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Tennessee

Tennessee

Incentives/Policies for Renewables & Efficiency

Printable Version
Green Energy Tax Credit   

Last DSIRE Review: 08/08/2014
Program Overview:
State: Tennessee
Incentive Type: Industry Recruitment/Support
Eligible Renewable/Other Technologies: Component Manufacturing
Applicable Sectors: Industrial
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.
Start Date:11/1/2009
Expiration Date:1/1/2029
Web Site: http://www.tn.gov/ecd/BD_business_tax_credit.html
Authority 1:
Tenn. Code ยง 67-4-2109
Summary:

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.

In addition to the Green Energy Tax Credit, the Carbon Tax Credit is available. This is the only carbon tax credit in the United States and it provides "certified green energy supply chain manufacturers" with financial protection against any potential price that may be placed on carbon emissions by future legislation. To learn more about these credits, which can be applied against the sum total of the taxes imposed by the Franchise Tax Law compiled in this part and the Excise Tax Law, see this guide.


 
Contact:
  Department of Revenue Information
Tennessee Department of Revenue
Andrew Jackson Building, Room 1200
Nashville, TN 37242-1099
Phone: (615) 741-2461
E-Mail: TN.Revenue@tn.gov
Web Site: http://www.tennessee.gov/revenue/
 
  Molly Cripps
Tennessee Department of Economic & Community Development
Energy Division
312 8th Avenue, North, 10th Floor
William Snodgrass Tennessee Tower
Nashville, TN 37243-0405
Phone: (615) 741-2994
Phone 2: (615) 741-6671
Fax: (615) 741-5070
E-Mail: molly.cripps@state.tn.us
Web Site: http://www.tn.gov/ecd/CD_office_energy_division.html
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.