Utah Admin. Code R362-2-5 - Investment Tax Credit, Eligible Costs for Commercial and Residential Systems, General
(1) Eligible costs
for equipment are limited to system components that are necessary for the
production of renewable energy and to deliver that energy for
end-use.
(2) Eligible costs for
equipment are limited to new components only. Any component of the renewable
energy system that has previously been used for any purpose is
ineligible.
(3) Costs for equipment
and installation of components on existing renewable energy systems are
eligible only if t the additional equipment increases the energy production
capacity of the existing system. Costs for repair or replacement of any
component of an existing system are ineligible for a tax credit.
(4) Each major energy-producing, energy
conversion, and energy storage components of a renewable energy system shall be
commercially available and built or manufactured for the intended
application.
(5) Costs for the
installation of a renewable energy system are eligible. The estimated value of
a taxpayer's own labor is not to be considered when calculating eligible
costs.
(6) Equipment and
installation costs for backup energy production devices and any other energy
production equipment that does not utilize a renewable energy source are not
eligible costs.
(7) Any portion of
the cost of an eligible renewable energy system that is offset by a cash rebate
from a manufacturer, vendor, installer, utility, or any other rebate shall be
not be considered an eligible cost for calculating residential or commercial
tax credits. However, any federal tax credit received for an eligible system
will not be deducted from the eligible cost when calculating the amount of Utah
tax credits.
(8) Some renewable
energy technologies have additional requirements for eligible costs that may be
found in technology-specific sections of this rule below.
Notes
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