Section 48 Tax Credits

For Green Building Renewable Energy

Project owners and investors who install designated renewable-energy equipment may take advantage of investment tax credit (ITC) Section 48 for green building generation equipment. Designed to lower the costs of owning or financing renewable energy generation, the ITC provides a 10% to 30% tax credit to owners or long-term lessees for the cost of qualified equipment that generates electricity, illumination or solar-process heat.

Depending on the type of green building renewable energy generated, the ITC is available for projects either started before January 1, 2014 or placed into service before January 1, 2017. The ITC is also available to taxpayers in lieu of the renewable energy production tax credit (PTC), outlined in section 45 of the Internal Revenue Code.

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