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Renewable Energy Financing and Property Tax Issues

Renewable Energy Financing and Property Tax Issues. June 25, 2011 Michigan Energy Fair. Michigan Public Service Commission. Financing Property Tax. Michigan Public Service Commission. grant bond loan Federal State Utility

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Renewable Energy Financing and Property Tax Issues

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  1. Renewable Energy Financing and Property Tax Issues June 25, 2011 Michigan Energy Fair Michigan Public Service Commission

  2. Financing • Property Tax Michigan Public Service Commission

  3. grant bond loan Federal State Utility residential commercial Financing Industrial nonprofit municipal governments tax credits/exemptions/deductions amortization Tribal governmentsschools Industry recruitment Michigan Public Service Commission

  4. Residential Federal Incentives • Energy Efficient Mortgages • Renewable Energy: Solar • Tax Credit • Renewable Energy: Biomass • 30% Tax Credit • Renewable Energy: Multiple • Personal Exemption Michigan Public Service Commission

  5. Residential State Incentives • Michigan Saves Michigan Public Service Commission

  6. Michigan Saves • Loans up to $20,000 • MichiganSaves.org • Solar Photovoltaic • Authorized contractors • Participating Lenders Michigan Public Service Commission

  7. Commercial/Corporate Federal Incentives • Bonus Depreciation • Corporate Exemptions • Investment Tax Credit (or grant from DOT) • Production Tax Credit Michigan Public Service Commission

  8. Commercial/Corporate State Incentives • Revolving Loan Fund • Tax Credits • Renaissance Zones • PACE Michigan Public Service Commission

  9. Other Sectors and Opportunities Federal Incentives • CREB/QECB • REPI • Grants • Loan Guarantee Programs Michigan Public Service Commission

  10. Other Sectors and Opportunities State Incentives • Grants • Revolving Loan Funds Michigan Public Service Commission

  11. Property Tax Michigan Public Service Commission

  12. Property Tax Issues • Different valuation methods • Differing interpretations around the State • Differing opinions on personal vs. real Michigan Public Service Commission

  13. Valuation • The replacement value of the system • What value the system adds • Revenue method Michigan Public Service Commission

  14. Property Tax for non-residential • 100% exemption for those in alternative energy technology business • 100% exemption for agricultural sector • Electric providers installing renewable energy continue to pay property tax Michigan Public Service Commission

  15. Property Tax Legislation • Amending classification • Amending definitions Michigan Public Service Commission

  16. Other Incentives • Financial • Environmental • Better Neighbor • Better Consumer • Sustainability • Fun! Michigan Public Service Commission

  17. What we can all do… • Legislation • Ordinances • Education • Participation Michigan Public Service Commission

  18. Stay Informed • Subscribe to the Michigan Renewable Energy Program email listserv at www.Michigan.gov/mrep Michigan Public Service Commission

  19. Michigan.gov/renewables • Legislation, incentives, net metering, contacts • DSIREUSA.org • List of incentives • Katie Trachsel, CPA • TrachselK@Michigan.gov • (517)373-1808 Michigan Public Service Commission

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