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Last Updated February 17, 2024

Program Overview

Category:

Financial Incentive

State:

Tennessee

Incentive Type:

Industry Recruitment/Support

Administrator:

Tennessee Department of Revenue

Start Date:

11/01/2009

Expiration Date:

01/01/2029

Web Site:

Applicable Sectors:

Industrial

Eligible Renewable/Other Technologies:

Geothermal Electric, Solar Thermal Electric, Solar Photovoltaics, Wind (All), Hydrogen, Lithium-ion

Summary

As of June 30, 2010, taxpayers may take a credit, apply for a refund of taxes paid, or apply for authority to make tax-exempt purchases of machinery and equipment used to produce electricity in a Certified Green Energy Production Facility.

Tennessee provides tax credits to industries in the green energy supply chain that invest more than $250 million into the state. The Department of Revenue, Department of Economic and Community Development as well as the Department of Environment and Conservation are authorized to certify “green energy supply chain manufacturers” as eligible for the Green Energy Tax Credit. The $1.5 million maximum credit is applied to a company's Franchise and Excise Tax liability.

A Certified Green Energy Production Facility is a facility certified by the Tennessee Department of Environment and Conservation (TDEC) as producing electricity for use and consumption on and off the premises using clean energy technology. Clean energy technology includes technology used to generate electricity from renewable energy sources such as geothermal, hydrogen, solar, and wind sources. Storage paired with clean energy technology is also included.