Source: https://www.taxequitytimes.com/2018/11/maryland-energy-administration-adopted-new-regulations-for-energy-storage-system-income-tax-credit-program/
Timestamp: 2019-04-26 08:41:17+00:00

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The program will grant tax credits to taxpayers that install energy storage systems between January 1, 2018 and December 31, 2022. The amount of tax credits granted from this program will not exceed 30 percent of the total installed costs of the energy storage system. The amount of tax credits granted for a system installed on residential property is further capped at $5,000. The cap amount of a system installed on commercial property is $75,000. The tax credits will be granted on a first-come, first-served basis and are subject to a maximum limit of $750,000 each year. Unused credits from this program cannot be carried forward or backward to offset taxpayers’ tax liability in another taxable year. Please click here to read more on the original Senate Bill and our observations about the incentive tax credit program.
[i] Md. Regs. Code § 14.26.07.04(A).
[ii] Md. Regs. Code § 14.26.07.04(B), (C).
[iv] Md. Regs. Code § 14.26.07.04(D).
[v] See Md. Regs. Code § 14.26.07.01.
[vi] Md. Regs. Code § 14.26.07.03(B)(4); Md. Code Ann., Tax-General § 10-101(c).
[vii] Md. Regs. Code § 14.26.07.07(A).
[viii] Md. Regs. Code § 14.26.07.05(B).
[ix] Md. Regs. Code § 14.26.07.05(C).
[x] Md. Regs. Code § 14.26.07.05(D).

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