Maryland Launches Energy Storage Tax Credit Pilot Program

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In what is being called a first for the U.S., Maryland has committed $750,000 to an energy storage tax credit program for 2018.

The Maryland Energy Administration (MEA) yesterday said that it now is accepting applications for the program.

“This tax credit empowers all Marylanders to support grid resiliency and serves as a model for all other 49 states,” Mary Beth Tung, director of the MEA, said in a statement.

According to the MEA, the program is available to eligible residential and commercial taxpayers who have installed a qualifying energy storage system between Jan. 1, 2018 and Dec. 31, 2018. Currently, a total of $225,000 has been reserved for residential taxpayers and $525,000 has been reserved for commercial taxpayers.

“Our Energy Storage Tax Credit program, while a pilot, includes a wide range of storage technologies and encourages innovation in the energy storage arena,” Tung said.

Lead image credit: CC0 Creative Commons | Pixabay

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