Renewable Energy Equipment
Renewable Energy Investments otherwise qualified for the EZ Investment Tax Credit are modified as noted:
- An EZ Credit certified as a Qualified Renewable Energy Investment that is placed into service between 1/1/2014 and 12/31/2017 can be carried forward for up to 22 years.
- An EZ Credit certified as a Qualified Renewable Energy Investment that is placed into service between 1/1/2015 and 12/31/2020 may be taken as a refund of 80% of the credit earned.
- Qualified Renewable Energy Investments for the Enterprise Zone Investment Tax Credit generate electricity from “eligible energy resources” as defined in the Colorado Public Utilities Commission Renewable Energy Standard (C.R.S. 40-2-124(1)). These include:
- Renewable energy generation from solar, wind, geothermal, biomass, and hydroelectricity (with a nameplate rating of 10 MW or less).
- Recycled energy produced by a generation unit with a nameplate capacity of not more than 15 megawatts that converts the otherwise lost energy from the heat from exhaust stacks or pipes to electricity and that does not combust additional fossil fuel. “Recycled energy” does not include energy produced by any system that uses energy, lost or otherwise, from a process whose primary purpose is the generation of electricity, including, without limitation, any process involving engine-driven generation or pumped hydroelectricity generation.
- Resources using coal mine methane and synthetic gas produced by pyrolysis of municipal solid waste are eligible energy resources if the Public Utilities Commission determines that the electricity generated by those resources is greenhouse gas neutral. The commission shall determine, following an evidentiary hearing, the extent to which such electric generation technologies utilized in an optional pricing program may be used to comply with this standard.
- A fuel cell using hydrogen derived from an eligible energy resource is also an eligible electric generation technology.
- Fossil and nuclear fuels and their derivatives are not eligible energy resources.