Zero-Emission Facilities Production Tax Credit
| Program Type | Corporate Tax Credit |
|---|---|
| Technologies | Solar Thermal Electric, Photovoltaics, Wind, Hydroelectric, Geothermal Electric |
| Amount |
$0.0025/kWh - $0.0075/kWh for 10 years; amount varies depending on when the facility is placed in operation and when electricity is generated |
| Required Documentation |
Facility construction and operation must not result in the creation of pollution or emissions harmful to the environment, pursuant to determination by the Department of Environmental Quality (DEQ), Tax Form 511CR, Schedule for Other Credits |
| Official Web Site | http://www.tax.ok.gov/itformcrt2.html |
The Oklahoma zero emissions facilities production tax credit is only available to commercial energy suppliers that have upgraded or newly built their facilities with eligible renewable systems, and are approved by the Department of Environmental Quality (DEC) for tax years beginning on or after Jan. 1, 2003.
For facilities placed in operation on or after Jan. 1, 2003 and before Jan. 1, 2007 the credit compensation breaks down as follows:
For electricity generated on or after Jan. 1, 2003, but prior to Jan. 1, 2004, the amount of the credit is seventy-five one hundredths of one cent ($0.0075) for each kilowatt-hour (kWh) of electricity generated. For electricity generated after Jan. 1, 2004, but prior to Jan. 1, 2007, the amount of the credit is $0.0050/kWh. For electricity generated after Jan. 1, 2007, but prior to Jan. 1, 2012, the amount of the credit is $0.0025/kWh. For electricity generated by these zero-emission facilities placed in operation after Jan. 1, 2007 and before Jan. 1, 2016, the amount of the credit is $0.0050/kWh
These tax credits are freely transferable during the 10 years after the facility has passed qualification, and include transfers or sales from non-taxable entities to taxable entities and transfers or sales from one taxable entity to another.
