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The U.S. Department of Energy and the North Carolina Clean Energy Technology Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in December 2014. Staff are currently working hard on the new version of DSIRE but are also maintaining the content of the current version of DSIRE. Thank you for your continued support and patience during this transition. We hope you are as excited for December as we are!

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Tennessee

Tennessee

Incentives/Policies for Renewables & Efficiency

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Green Energy Property Tax Assessment   

Last DSIRE Review: 12/03/2014
Program Overview:
State: Tennessee
Incentive Type: Property Tax Incentive
Eligible Renewable/Other Technologies: Photovoltaics, Wind, Geothermal Electric, Hydrogen
Applicable Sectors: Commercial, Industrial, Residential, Utility, Investor-Owned Utility, Rural Electric Cooperative
Amount:Depends upon sector
Equipment Requirements:Must be certified green energy production facility
Start Date:06/30/10
Authority 1:
Date Effective:
Public Chapter 297
01/01/2013
Authority 2:
Date Effective:
Tenn. Code ยง 67-5-601 et seq.
01/01/2013
Summary:

Tennessee offers a special ad valorem property tax assessment for certified green energy production facilities. Tennessee Code Annotated § 67-5-601 (e)-(f) defines the sound, intrinsic and immediate value of alternative green source properties when they are initially appraised. SB 1000 stipulated that the assessed property value of all certified green energy production facilities (as defined in Tenn. Code § 67-4-2007) may not exceed 1/3 of total installed costs; however, there are differences in the valuation percentages of the various sources of green energy.

TDEC defines and certifies facilities based upon production of electricity using clean energy technology for use and consumption off the premises. Clean energy technology is defined as technology used to generate energy from geothermal, hydrogen, solar, and wind sources. The effective date of the property valuation provided is January 1st of the year for which the valuation is claimed. A copy of the facility certification must be provided by the property owner to the comptroller's office by March 1st of the same year. The comptroller must advise the assessor of the locations of any certified green energy property and must advise the assessor as to whether the property should be assessed locally or centrally.


 
Contact:
  Gary T. Harris, CAE
Comptroller of the Treasury
Office of State Assessed Properties
James K Polk State Office Building, Suite 1700
505 Deaderick Street
Nashville, TN 37243-1402
Phone: (615) 741-0150
E-Mail: Gary.Harris@cot.tn.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.