M ICHIGAN P UBLIC S ERVICE C OMMISSION Renewable Energy Financing and Property Tax Issues June 25, 2011 Michigan Energy Fair.

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Presentation transcript:

M ICHIGAN P UBLIC S ERVICE C OMMISSION Renewable Energy Financing and Property Tax Issues June 25, 2011 Michigan Energy Fair

M ICHIGAN P UBLIC S ERVICE C OMMISSION Financing Property Tax

M ICHIGAN P UBLIC S ERVICE C OMMISSION grant bond loan FederalStateUtility residential commercial Financing Industrial nonprofit municipal governments tax credits/exemptions/deductions amortization Tribal governments schools Industry recruitment

M ICHIGAN P UBLIC S ERVICE C OMMISSION Residential Federal Incentives Energy Efficient Mortgages –Renewable Energy: Solar Tax Credit –Renewable Energy: Biomass 30% Tax Credit –Renewable Energy: Multiple Personal Exemption

M ICHIGAN P UBLIC S ERVICE C OMMISSION Residential State Incentives Michigan Saves

M ICHIGAN P UBLIC S ERVICE C OMMISSION Michigan Saves Loans up to $20,000 MichiganSaves.org Solar Photovoltaic Authorized contractors Participating Lenders

M ICHIGAN P UBLIC S ERVICE C OMMISSION Commercial/Corporate Federal Incentives Bonus Depreciation Corporate Exemptions Investment Tax Credit (or grant from DOT) Production Tax Credit

M ICHIGAN P UBLIC S ERVICE C OMMISSION Commercial/Corporate State Incentives Revolving Loan Fund Tax Credits Renaissance Zones PACE

M ICHIGAN P UBLIC S ERVICE C OMMISSION Other Sectors and Opportunities Federal Incentives CREB/QECB REPI Grants Loan Guarantee Programs

M ICHIGAN P UBLIC S ERVICE C OMMISSION Other Sectors and Opportunities State Incentives Grants Revolving Loan Funds

M ICHIGAN P UBLIC S ERVICE C OMMISSION Property Tax

M ICHIGAN P UBLIC S ERVICE C OMMISSION Property Tax Issues Different valuation methods Differing interpretations around the State Differing opinions on personal vs. real

M ICHIGAN P UBLIC S ERVICE C OMMISSION Valuation The replacement value of the system What value the system adds Revenue method

M ICHIGAN P UBLIC S ERVICE C OMMISSION 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

M ICHIGAN P UBLIC S ERVICE C OMMISSION Property Tax Legislation Amending classification Amending definitions

M ICHIGAN P UBLIC S ERVICE C OMMISSION Other Incentives Financial Environmental Better Neighbor Better Consumer Sustainability Fun!

M ICHIGAN P UBLIC S ERVICE C OMMISSION What we can all do… Legislation Ordinances Education Participation

M ICHIGAN P UBLIC S ERVICE C OMMISSION Stay Informed Subscribe to the Michigan Renewable Energy Program listserv at MREP IndividualsNon-profitsGovernmentUtilitiesInstallersDevelopers

M ICHIGAN P UBLIC S ERVICE C OMMISSION Michigan.gov/renewables –Legislation, incentives, net metering, contacts DSIREUSA.org –List of incentives Katie Trachsel, CPA –(517)