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Georgia

Georgia

Incentives/Policies for Renewables & Efficiency

Printable Version
Clean Energy Tax Credit (Personal)   

Last DSIRE Review: 01/09/2013
Program Overview:
State: Georgia
Incentive Type: Personal Tax Credit
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Photovoltaics, Wind, Geothermal Heat Pumps
Applicable Sectors: Residential
Amount:35%
Maximum Incentive:Solar water heat: $2,500
PV, active space heating, wind energy: $10,500
Energy Star-certified geothermal heat pump: $2,000
Equipment Requirements:Solar thermal collectors must meet SRCC certification OG-100 or FSEC-GO-80. Solar thermal residential systems must meet SRCC OG-300 certification or FSEC-GP-5-80.
Carryover Provisions:For credits allowed through the end of 2011, excess credit may be carried forward for five years from the close of the taxable year in which the clean energy property was installed. Credits allowed for 2012, 2013 or 2014 must be taken in four equal installments over four successive taxable years beginning with the taxable year in which the credit is allowed.
Program Budget:$2.5 million annually through 12/31/2011; $5 million annually in 2012, 2013 and 2014
Start Date:7/1/2008
Expiration Date:12/31/2014
Web Site: http://www.gefa.org/Index.aspx?page=423
Authority 1:
Date Enacted:
Date Effective:
Expiration Date:
O.C.G. ยง 48-7-29.14
5/14/2008 (subsequently amended)
7/1/2008
12/31/2014
Authority 2:
Date Enacted:
Date Effective:
Expiration Date:
H.B. 346
5/11/2011
1/1/2011
12/31/2014
Authority 3:
Georgia Department of Revenue HB 670 Chart
Summary:
NOTE: Due to a high level of interest, the Clean Energy Tax Credit annual funding of $5 million for years 2012, 2013 and 2014 has been fully allocated to compensate applicants wait listed from previous years. The Georgia Environmental Finance Authority is continuing to accept and process applications. If denied by the Georgia Department of Revenue, these applications will be added to a waiting list, prioritized by postmark, for possible credit allocation in a future year.
 
In May 2008, Georgia enacted legislation establishing personal and corporate tax credits for clean energy equipment installed and placed into service. For clean energy property installed for single-family residential purposes, the tax credit is equal to 35% of the cost of the system (including installation). The credit is subject to various ceilings depending on the type of system.

The following credit limits for various technologies and sectors apply:
  • A maximum of $2,500 per residence for domestic solar water heating
  • A maximum of $10,500 per residence for photovoltaics (PV), active space heating and wind energy systems
  • A maximum of $2,000 per installation for Energy Star-certified geothermal heat pumps.
Leased systems are eligible for the credit. (In the case of a leased system, the cost is considered to be eight times the net annual rental rate, which is the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from sub-rentals.)

Before claiming the credit, the taxpayer must submit an application to the Georgia Department of Revenue for tentative approval, as the aggregate amount of tax credits -- both personal and corporate credits -- taken may not exceed $2,500,000 in any calendar year through December 31, 2011. The aggregate annual limit in 2012, 2013 and 2014 is $5 million. Tax credits are granted on a first-come, first-served basis and may not exceed the taxpayer's liability for that taxable year. Taxpayers who do not receive a full credit for an eligible system will be placed on a "priority list" for access to this credit in future years.
 
The credit must be taken for the taxable year in which the property is installed. For credits allowed through the end of 2011, any excess credit may be carried forward for five years from the close of the taxable year in which the clean energy property was installed. Credits allowed for 2012, 2013 or 2014 must be taken in four equal installments over four successive taxable years beginning with the taxable year in which the credit is allowed.

Solar hot water systems must be certified for performance by the Solar Rating Certification Corporation (SRCC), the Florida Solar Energy Center (FSEC) or a comparable entity approved by the tax authority. The equipment must meet the certification standards of SRCC OG-100 or FSEC-GO-80 for solar thermal collectors and/or SRCC OG-300 or FSEC-GP-5-80 for solar thermal residential systems.

This tax credit took effect July 1, 2008, and is scheduled to expire December 31, 2014. 

 


 
Contact:
  Taxpayer Services Division
Georgia Department of Revenue
1800 Century Center Blvd, NE
Atlanta, GA 30345-3205
Phone: (877) 423-6711
E-Mail: taxpayer.services@dor.ga.gov
Web Site: https://etax.dor.ga.gov
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.