Tennessee Incentives/Policies for Renewables & Efficiency |
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Last DSIRE Review: 07/06/2012
Program Overview:
| State: |
Tennessee |
| Incentive Type: |
Property Tax Incentive |
| Eligible Renewable/Other Technologies: |
Photovoltaics, Wind, Geothermal Electric, Hydrogen, Small Hydroelectric |
| Applicable Sectors: |
Not addressed |
| Amount: | Varies; salvage value shall never exceed one-half percent (0.5%) of the acquisition value |
| Equipment Requirements: | Must be certified green energy production facility |
| Start Date: | 06/30/10 |
Authority 1:
Date Enacted:
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S.B. 3901
06/30/2010
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Authority 2:
Date Effective:
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Tenn. Code ยง 67-5-604
06/30/2010
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Summary:
The state of Tennessee offers a special ad valorem property tax assessment for certified green energy production facilities. The Department of Environment and Conservation defines and certifies facilities based upon production of electricity for use and consumption off the premises using clean energy technology, which is defined as technology used to generate energy from geothermal, hydrogen, solar, and wind sources.
These certified green energy production facilities are permitted to utilize salvage value for property tax purposes. Meaning, the estimated fair market value, if any, that could be realized upon the voluntary sale or other disposition of such property when it can no longer be used for the purpose for which it was designed. For purposes of this special assessment, salvage value shall never exceed one-half percent (0.5%) of the acquisition value of such facilities. Facilities may qualify by obtaining a certificate from the Tennessee Department of Environment and Conservation, or by such county boards of health as it may designate.
The effective date of the property valuation provided is January 1, of the following year after the date of application. |
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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.
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