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 2020 (January 1 - December 31, 2020). 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 during Tax Year 2020.
The deadline for submitting an application for a Tax Year 2020 energy storage tax credit is January 15, 2021 at 11:59 PM EST. In addition, please note that MEA will not accept missing documents and/or information for applications on file for Tax Year 2020 after January 20, 2021 at 11:59 pm EST.
MEA is initially 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 available in the other funding allocation. The reserved funding allocations will be removed on July 1, 2020, 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 Tax Year 2020 cannot be carried over to Tax Year 2021 or any other future tax year. To comply with the enabling statute, under no circumstances will more than $750,000 in energy storage income tax credit certificates be awarded for a single Tax Year. Current law authorizes MEA to offer this program for Tax Years 2018, 2019, 2020, 2021, and 2022.