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Show Utahns urged to utilize energy systems tax credits Persons who installed renewable energy systems during 1981 will be able to take advantage of new amendments to the Energy Systems Tax Credit and find it easier to obtain the required system certification due to a revised and shortened certification form. The Energy Systems Tax Credit, which became law in 1980, grants a 10 percent state income tax credit on qualifying renewable energy systems up to $1,000 for residential applications and up to $3,000 for commercial applications. ap-plications. Eligible systems include active ac-tive solar, passive solar, wind and hydro energy systems. The 1981 Utah State Legislature approved ap-proved two amendments to the Energy Systems Tax Credit which became effective ef-fective in the 1981 tax year. The first amendment calls for a cash remittance to the individual if the tax credit exceeds ex-ceeds the person's tax liability. This means if an individual's renewable energy system tax credit exceeds the amount of state tax owed, the State Tax Commission will mail the individual a reimbursement check for the difference, dif-ference, rather than an individual having hav-ing to claim the tax credit each year until un-til the credit is exhausted. The second amendment remedies a technical flaw in the original law which allowed the tax credit to be claimed only on-ly once. The amendment allows a tax credit on a number of systems over an extended period as long as the $1,000 residential and $3,000 commercial limits are not exceeded. More than 100 energy system certification cer-tification applications for the 1981 tax year have been received to date at the Utah Energy Office, a division of the Department of Natural Resources and Energy. "We're estimating that more than 500 applications will be received for the 1981 tax credit," said Kevin Gillars, Renewable Resource Specialist at the Utah Energy Office. "I expect an increase in-crease of approximately 40 percent in applications compared to last year," he said. Gillars said the new application form is shorter and simpler to understand, and should make the application procedure pro-cedure a lot easier. "A system must have been installed and operational by December 31, 1981, to receive 1981 tax credit certification," Gillars explained. Additionally, the system must receive certification from the state to receive the tax credit. The Utah Energy Office will review each application and conduct on site inspections in-spections of approximately 50 percent of the renewable energy systems. Complemented by the 40 percent federal tax credit, Utah renewable energy system investors can recoup as much as 50 percent of their expen-ditures. expen-ditures. The Energy Systems tax credit is effective through 1985. To receive the renewable energy systems certification applications, contact con-tact the Utah Energy Hotline at 533-FACT or the toll free Hotline at 1-800-662-3633, or drop by the Utah Energy Office at 3266 State Office Building, Salt Lake City, between 8 a.m. and 5 p.m. weekdays. |
