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 2024 (January 1 - December 31, 2024). 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 2024. Current law authorizes MEA to offer this program for Tax Years 2018 through 2024.
The deadline to apply for a Tax Year 2024 energy storage tax credit is January 15, 2025 at 3:00 PM Eastern. MEA will not accept missing documents or information for applications on file for Tax Year 2024 after January 20, 2025 at 3:00 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 an initial Reserved Tax Credit Allocation is oversubscribed, but funding remains available in another Allocation, eligible applicants will be placed into a waitlist queue for Tax Year 2024. MEA will remove the Reserved Tax Credit Allocations on July 1, 2024. 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 TY 2024 before July 1, 2024, applicants placed onto the waitlist in Tax Year 2024 cannot be carried over to a different Tax Year. Under no circumstances will more than $750,000 in energy storage tax credit certificates be awarded for a single Tax Year