Energy Storage Tax Credit

Program Energy Storage Tax Credit
Category Financial Incentive
Implementing sector State
Last Update
State Maryland
Administrator Maryland Energy Administration
Website https://energy.maryland.gov/business/Pages/EnergyStorage.aspx
Budget $750,000 per year
Start Date
Sectors Residential

Maryland provides a tax credit to taxpayers who install energy storage systems in their residential or commercial property. The tax credit is 30 percent of the total installed costs of the system, up to $5,000 for residential property and $75,000 for commercial property. Taxpayers must apply to the Maryland Energy Administration (MEA) to receive a tax credit certificate, which then qualifies them for the tax credit. MEA will award up to $750,000 in energy storage tax credits each year on a first come, first served basis while funding is available. MEA is reserving $300,000 for residential taxpayers and $450,000 for commercial taxpayers. If either of the reserved funding allocations become oversubscribed, eligible applicants will be placed onto a wait list as long as funding remains in the other funding allocation. The reserved funding allocations by category will be removed on August 1, 2019, and tax credits will be assigned to eligible applicants on the waitlist in the order the eligible applications were received. Residential and commercial applicants placed onto the waitlist in a given tax year cannot be carried over to any future tax year.

See the website above for additional information and requirements.  

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