Solar Energy Systems Exempt from Personal Property Tax in D.C.!

The District of Columbia has again shown its support for the solar energy industry by recognizing and eliminating one of the potential barriers to building solar in the District. The Innovations and Savings Amendment Act of 2012 has specifically amended Sec. 47-1501 of the District of Columbia code to include solar energy systems and cogeneration energy systems under the Personal Property Tax Exemption. Personal property tax has previously been a barrier to solar installation, by creating an unfair discrepancy between home owners who install facilities on their own property and third party owners who have installed a system on a host site. With the enactment of this bill, the exemption will reduce the tax burden on solar energy systems and further incentivize the construction of solar energy projects in the District. In efforts to maintain its goals for renewable energy, D.C. continues to take steps to ensure equal access to solar for all those interested and spur third party investments. D.C. is becoming an increasingly attractive market for solar development with its growth in installed capacity. Sol Systems is a firm offering investor clients direct access to the renewable energy asset class and providing sophisticated project financing solutions.  Sol Systems is also currently offering three SREC solutions for photovoltaic and solar thermal systems located in the District: Sol Annuity, Sol Brokerage, and Sol Upfront.

Source: DC Exempts Solar Energy Systems from Personal Property Tax