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Maryland Energy Administration Launches 2019 Energy Storage Income Tax Credit

February 21st, 2019 by WCBC Radio

The Maryland Energy Administration (MEA) is now accepting applications for the Tax Year (TY) 2019 Maryland Energy Storage Income Tax Credit Program. The program is designed to encourage the deployment of energy storage systems in Maryland. Energy storage devices function as battery back-ups, which can be used in conjunction with or without renewable energy sources.

“Energy storage is critical to realizing a true renewable energy future,” stated Mary Beth Tung, Ph.D., J.D., MEA Director. “I am proud of the efforts by MEA to support this technology deployment which will expand our renewable energy options,” continued Director Tung.

Maryland made national news in 2017 by being the first state in the country to pass a bill allowing taxpayers to claim an income tax credit on energy storage devices. In year one of the program, a total of 61 residential customers and one commercial customer took advantage of the tax credit. Current State encouraged storage levels are over 1.1 megawatts of duration and more than 600 kilowatts of peak capacity.

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