Renewable Energy Installation Tax Credit
| Program Type | Personal Tax Credit |
|---|---|
| Technologies | Solar Thermal Electric, Photovoltaics, Landfill Gas, Wind, Biomass, Geothermal Electric |
| Amount | 35 percent; participant investment must be greater than or equal to $5,000 |
| Required Documentation | System Inspection |
| Official Web Site | http://www.deq.mt.gov/Energy/renewable/taxincentrenew.mcpx#15-32-401 |
Montana offers individuals and businesses the opportunity to invest in solar power and receive up to a 35 percent tax credit on individual or corporate tax on income generated by the investment. The alternative energy investment by the individual must be more than $5,000 to qualify. This credit is available for individuals building a new facility or purchasing a used facility, but the facility must be on the property of the individual and must have a generating capacity of 50 kilowatts or fewer.
The tax credit must be taken the year the equipment is placed in service; however, any portion of the tax credit that exceeds the amount of tax to be paid may be carried over and applied against state tax liability for the following seven years. (from the website)
Taxpayers may not take this credit in conjunction with any other state energy or state investment tax benefits, or with the property tax exemption for non-fossil energy property 15-6-224.
