The Maryland Energy Storage Income Tax Credit 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 2019 (January 1 - December 31, 2019). MEA may award up to $750,000 in energy storage tax credits on a first come, first served basis while funding is available. MEA will not accept applications for Tax Year 2019 after January 15, 2020 at 11:59 pm EST.
MEA is currently 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 in the other funding allocation. The reserved funding allocations by category will be removed on August 1, 2019, 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 2019 cannot be carried over to Tax Year 2020 or any other tax year. Under no circumstances will more than $750,000 in energy storage income tax credit certificates be awarded in a single Tax Year. MEA will offer this program for Tax Years 2018, 2019, 2020, 2021, and 2022.