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Energy Storage Income Tax Credit is sponsored by Maryland Energy Administration (MEA). Maryland's Energy Storage Income Tax Credit program offered businesses up to $750,000 in tax credits for installing battery storage. The program was first-come, first-served and tended to reach full capacity quickly.
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Maryland Energy Storage Income Tax Credit Accessibility Information Maryland Energy Storage Income Tax Credit THIS PROGRAM IS INACTIVE AS OF THE END OF CALENDAR YEAR 2024, AND IS NO LONGER ACCEPTING APPLICATIONS, PER STATE LAW. THE MARYLAND ENERGY ADMINISTRATION WILL PROVIDE GRANTS FOR ELIGIBLE ENERGY STORAGE SYSTEMS UNDER ITS FY26 RESIDENTIAL & COMMERCIAL ENERGY STORAGE GRANT PROGRAM .
INTERESTED PARTIES SHOULD VISIT THE PROGRAM WEBPAGE FOR MORE INFORMATION. THE INFORMATION BELOW IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN ACTIVE PROGRAM.
---------------------------------------------------------------------------------------------------------------------------------------------------------- MEA is actively redesigning its residential and commercial energy storage program offerings. As state legislation mandates, the Maryland Energy Storage Income Tax Credit has expired as of the end of 2024.
This will create a funding gap starting in January 2025 until the beginning of fiscal year 2026 (Summer 2025), when the redesigned energy storage program is set to launch. Statute: Md. Code Ann.
, Tax General Article § 10-719; Regulations: COMAR 14. 26. 07; Energy Storage Systems – Income Tax Credit and Grant Program, Maryland SB 215, Regular Session (2022), https://mgaleg.
maryland. gov/2022rs/Chapters_noln/CH_246_sb0215e. pdf Program Description: The Maryland Energy Storage Income Tax Credit Program ("MESITC Program", "the Program") is available to residential and commercial taxpayers who have installed an energy storage system on their residential or commercial property in Maryland.
Under the enabling statute, MEA may award a total of $750,000 in tax credit certificates during a given tax year. Tax credit certificates will be awarded to eligible applicants on a first come, first served basis . Applying does not guarantee that a tax credit will be awarded.
Current State law authorizes MEA to offer the program through tax year 2024. **Funding Depleted for 2024 Tax Year** MEA is no longer accepting applications to the Tax Year 2024 Maryland Energy Storage Income Tax Credit Program. Should funding availability change, MEA will update this website and make any appropriate announcements as soon as possible.
All Applications approved on rolling basis See below for more information on funding availability. Friday, November 22, 2024, the total of all funded and pending applications received to the 2024 Maryland Energy Storage Income Tax Credit Program exceeds the available funds remaining. MEA will process each eligible application in the order it was received until all funds are exhausted.
Should additional funding become available, MEA will update this website and make any appropriate announcements. If you have already applied for the MESITC Program, and have yet to receive an email on the status of your application, MEA will review it in the order that it was received, and if found eligible, it will be placed on the residential waitlist. Current applicants that are waitlisted in this manner will be notified by MEA.
FUNDING STATUS - 2024 PROGRAM MEA makes its best effort to update the information in the table below every Friday afternoon, or next business day if a State Holiday is on a Friday. NOTE: All unclaimed funds in all categories after June 30, 2024 will be made available to all applicants without restriction based on type (residential or commercial) on July 1, 2024.
Initial Amount Allocated Residential and Commercial Applications (Approved on a rolling basis beginning with Waitlisted applications) $ 443,210. 15 (Total funds available on 7/1/2024; unallocated commercial funds now available to all applications) Type of Program: Income Tax Credit Program; first-come, first served.
Program Application Deadline: The deadline for receipt by MEA of applications for Tax Year 2024 is January 15, 2025, at 3:00 P. M. EST .
MEA will not accept applications after that deadline. The deadline for receipt by MEA of missing documents and/or information for Tax Year 2024 applications that MEA received by the application deadline is within 14 days of MEA’s notification to the applicant of missing documentation, or January 20, 2025, at 3:00 P. M.
EST, whichever is earlier. Anticipated Program Budget: $750,000. For more information, please see the Funding Opportunity Announcement below.
*Tax Credit Guidance Revised Document Posted 04. 11. 2025* TY 2024 Funding Opportunity Announcement TY 2024 Authorized Applicant Signature Form Tax Credit Example Calculations TY 2024 Claiming Tax Credit Guidance REV 04.
11. 25 For more information, contact MEA regarding Maryland Energy Storage Tax Credit by email at [email protected] to speak with MEA's Energy Storage Team. Disclaimer - The Maryland Energy Administration cannot provide tax advice.
If you have any questions about Maryland State Taxes, please contact the Comptroller of Maryland ( https://www. marylandtaxes. gov/ ) and/or a licensed tax professional.
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According to the current listing, eligibility includes: Businesses installing battery storage systems in Maryland. Confirm the full requirements in the official notice before applying.
The current listing shows up to $750,000 in tax credits. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Energy Storage Income Tax Credit is funded by Maryland Energy Administration (MEA). Verify program details on the funder's official page before applying.
This opportunity targets applicants in Maryland. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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