(21) Renewable Residential Energy Systems Credit (UC §59-10-1014) This credit is for reasonable costs, including installation, of a residential energy system that supplies energy to a Utah residential unit. Additional residential energy systems or parts may be claimed in following years as long as the total amount claimed does not exceed certain limits. Contact the Governor’s Ofﬁce of Energy Development for more information. If the residence is sold to a non-business entity before claiming the credit, you may irrevocably transfer the right to the credit to the new owner. The principal portion of the system's lease payments may qualify for the credit if the lessor irrevocably transfers the credit rights to the new owner.
Get form TC-40E, Renewable Residential and Commercial Energy Systems Tax Credits, from the Governor's Ofﬁce of Energy Development with their certiﬁcation stamp, verifying the credit is approved and showing the amount of the approved credit. Do not send form TC-40E with your return. Keep the form and all related documents with your records.
Note: Any credit that is more than the tax liability may be carried forward for the next four years.
For more information contact: Governor's Ofﬁce of Energy Development (OED) PO Box 144845 Salt Lake City, UT 84114 801-538-8662 energy.utah.gov/renewabletaxcredit
*****Solar Energy Systems Phase-out: The 2018 Utah Legislature passed SB 141, phasing out the Renewable Residential Energy Systems Credit (credit 21) for solar panels starting in 2018. The maximum credit for solar power systems installed in 2018 is $1,600.*****