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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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Virginia

Virginia

Incentives/Policies for Renewables & Efficiency

Printable Version
Green Jobs Tax Credit   

Last DSIRE Review: 10/22/2012
Program Overview:
State: Virginia
Incentive Type: Industry Recruitment/Support
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Heat Pumps, Solar Pool Heating, Fuel Cells using Renewable Fuels, Geothermal Direct-Use
Applicable Sectors: Commercial, Industrial
Amount:$500 per each job created
Maximum Incentive:$175,000
Terms:Must create a new job in the alternative energy/renewable energy fields. The Department of Commerce and Trade will promulgate rules regarding qualifying jobs.
Start Date:07/01/2010
Authority 1:
Date Enacted:
Date Effective:
S.B. 623 (duplicate bill H.B. 803)
04/02/2010
07/01/2010
Summary:

In April 2010, Virginia enacted the green jobs tax credit. For every green job created with a yearly salary of $50,000 or more, the company will earn a $500 income tax credit for five years. The Office of Commerce and Trade will develop a full list of jobs eligible to qualify for the tax credit. Companies will be allowed tax credits for up to 350 green jobs created. If the taxpayer does not have enough tax liability to take the full credit, it may be carried forward for up to 5 years.

Applicants may also be eligible for the Enterprise Zone Grant Program if creating jobs within defined geographical areas.

Definitions

Green Jobs
Defined as jobs in the manufacturing and operation of renewable or alternative energy products and technologies used to generate electricity and energy.

Alternative Energy Sources
Eligible alternative energy sources are defined as "hydrogen and fuel cell technology, landfill gas, geothermal heating systems, solar heating systems, hydropower systems, wind systems, and biomass and biofuel systems."


 
Contact:
  General Information - Green Jobs Tax Credit
Office of the Secretary of Commerce and Trade
P.O. Box 1475
Richmond, VA 23218
Phone: (804) 786-7831
E-Mail: commerce.trade@governor.virginia.gov
Web Site: http://www.commerce.virginia.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.