m ichigan p ublic s ervice c ommission renewable energy financing and property tax issues june 25,...
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MICHIGAN PUBLIC SERVICE COMMISSION
Renewable Energy Financing and Property Tax Issues
June 25, 2011
Michigan Energy Fair
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• Financing
• Property Tax
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grant bond loan
Federal State Utility residential commercial
FinancingIndustrial nonprofit municipal governmentstax credits/exemptions/deductions amortizationTribal governments schools
Industry recruitment
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Residential
Federal Incentives• Energy Efficient Mortgages
– Renewable Energy: Solar
• Tax Credit– Renewable Energy: Biomass
• 30% Tax Credit– Renewable Energy: Multiple
• Personal Exemption
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Residential
State Incentives
• Michigan Saves
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Michigan Saves
• Loans up to $20,000
• MichiganSaves.org
• Solar Photovoltaic
• Authorized contractors
• Participating Lenders
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Commercial/Corporate
Federal Incentives
• Bonus Depreciation
• Corporate Exemptions
• Investment Tax Credit (or grant from DOT)
• Production Tax Credit
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Commercial/Corporate
State Incentives
• Revolving Loan Fund
• Tax Credits
• Renaissance Zones
• PACE
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Other Sectors and Opportunities
Federal Incentives
• CREB/QECB
• REPI
• Grants
• Loan Guarantee Programs
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Other Sectors and Opportunities
State Incentives
• Grants
• Revolving Loan Funds
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Property Tax
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Property Tax Issues
• Different valuation methods
• Differing interpretations around the State
• Differing opinions on personal vs. real
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Valuation
• The replacement value of the system
• What value the system adds
• Revenue method
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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
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Property Tax Legislation
• Amending classification
• Amending definitions
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Other Incentives
• Financial
• Environmental
• Better Neighbor
• Better Consumer
• Sustainability
• Fun!
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What we can all do…
• Legislation
• Ordinances
• Education
• Participation
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Stay Informed
• Subscribe to the Michigan Renewable Energy Program email listserv at www.Michigan.gov/mrep
DevelopersDevelopers
InstallersInstallers
UtilitiesUtilities
GovernmentGovernment
Non-profitsNon-profits
IndividualsIndividuals
MREPMREP
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• Michigan.gov/renewables– Legislation, incentives, net metering, contacts
• DSIREUSA.org– List of incentives
• Katie Trachsel, CPA– [email protected]– (517)373-1808