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Funding Resources
Funding Resources
| SC Biomass Energy Tax Credit | |
|---|---|
| Type of Incentive | Tax |
| Eligible States | SC |
| Eligible Technology | Backpressure Turbine, Boiler, Combustion Turbine, Condensing Turbine, Extracting Turbine, Fuel Cell, Microturbine, Other, Reciprocating Engine, Heat Recovery Generator, Stirling Engine |
| Eligible Fuel | Biogas, Biomass, LFG, Other |
| Eligible Project Size | All (MW) |
| Number of Awards | |
| Size of Award |
South Carolina businesses can receive an income tax or license fee credit for 25 percent of the purchase and installation costs of equipment used to generate heat, power, steam, electricity, or another form of energy for commercial use using a fuel consisting of no less than 90 percent biomass resources. For purposes of this credit, a biomass resource means non-commercial wood, by-products of wood processing, demolition debris containing wood, agricultural waste, animal waste, sewage, landfill gas, and other organic materials, not including fossil fuels. "Commercial use" means a use intended for the purpose of generating a profit. A "manufacturing facility" means an establishment where tangible personal property is produced or assembled. The maximum annual tax credit is $650,000 and the credit may not exceed 50 percent of a taxpayer's liability for that year. Unused credits can be carried forward to the next year for a maximum of 15 years. |
| Start Date | 1/1/2007 |
| End Date |
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| Minimum Efficiency(%) |
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| Additional Information | To claim the tax credit, projects must be approved and all costs incurred must be certified by the South Carolina State Energy Office, and requests for the credit must be submitted by January 31st for qualifying equipment placed in service during the previous calendar year. The State Energy Office must notify the taxpayer that it qualifies for the credit and the amount of credit allocated to the taxpayer by March 1st of that year. |
| Web Site |
http://www.energy.sc.gov/index.aspx?m=1&t=5&h=601  |
| Additional Web Site |
http://www.dsireusa.org/library/includes/ incentive2.cfm?Incentive_Code=SC10F&state=SC&CurrentPageID=1&RE=1&EE=1 |
| Primary Contact |
Public Information 1200 Senate Seat, 408 Wade Hampton Building Columbia, SC 29201 U.S.A. (803) 737-8030 (803) 737-9846 |