The clean energy property tax credit is based on the cost of the clean energy property placed into service in Georgia. The maximum credit for each installation is limited to the lesser of either 35% of the cost of the clean energy property or the caps as identified in the statute. For clean energy property, the credit is taken for the taxable year in which the property is placed into service. There is a five year carry-forward provision for the clean energy property tax credits. Total Tax Incentive Cap: $2.5 Million Annually.

Tax Incentive Ends: December 31, 2012

A taxpayer may claim a credit of 30% of qualified expenditures for a system that serves a dwelling unit located in U.S. used as a residence by the taxpayer. Expenditures with respect to the equipment are treated as made when the installation is completed. Expenditures include labor cost for onsite preparation, assembly or original system installation and for piping or wiring to interconnect a system to the home. If the federal tax credit exceeds tax liability, the excess amount will be carried forward to the succeeding taxable year.

Installation years: January 1, 2009-December 31, 2016

The clean energy property tax credit is based on the cost of the clean energy property placed into service in Georgia. The maximum credit for each installation is limited to the lesser of either 35% of the cost of the clean energy property or the caps as identified in the statute. For clean energy property, the credit is taken for the taxable year in which the property is placed into service. There is a five year carry-forward provision for the clean energy property tax credits. Total Tax Incentive Cap: $2.5 Million Annually.

Tax Incentive Ends: December 31, 2012

In general, the original use of the equipment must begin with the taxpayer, or the system must be constructed by the taxpayer. The property must be operational in the year in which the credit is first taken. If the project is financed in whole or in part by subsidized energy financing or by tax-exempt private activity bonds, the basis on which the credit is calculated must be reduced.

Installation years: January 1, 2009-December 31, 2016