The Program is available to residential and commercial taxpayers who have installed an energy storage system on their residential or commercial property in Maryland during Tax Year 2023 (January 1 - December 31, 2023). Under the enabling statute, MEA may award a total of $750,000 in tax credit certificates for a given tax year. Tax credit certificates will be awarded to eligible applicants on a first come, first served basis during Tax Year 2023. Current law authorizes MEA to offer this program for Tax Years 2018 through 2024.
The deadline to apply for a Tax Year 2023 energy storage tax credit is January 15, 2024 at 5:00 PM Eastern. MEA will not accept missing documents or information for applications on file for Tax Year 2023 after January 20, 2024 at 11:59 pm Eastern.
MEA will initially follow the Reserved Tax Credit Allocation noted in Table 1.1 which reserves available tax credits for residential and commercial taxpayers who have either purchased or leased an energy storage system.
If any of the Reserved Tax Credit Allocations become oversubscribed, applicants will be placed onto a wait list if tax credits remain available in the other Reserved Tax Credit Allocations. MEA will remove the Reserved Tax Credit Allocations on July 1, 2023 and tax credits will be issued on a first-come, first-served basis. Applicants that were placed onto the waitlist will be issued tax credit certificates in the order MEA received the applications. If the program utilizes the full $750,000 of tax credit certificates for Tax Year 2023 before July 1, 2023, applicants placed onto the waitlist in Tax Year 2023 cannot be carried over to Tax Year 2024. Under no circumstances will more than $750,000 in energy storage tax credit certificates be awarded for a single Tax Year.