Florida Renewable Energy Tax Incentives

The Florida Renewable Energy Tax Incentives consists of three possible tax incentives and represents a total of $89 million in potential tax credits or sales tax refunds over the life of the program. The intended goals of the program are to increase the renewable energy production within the state and create new jobs for Floridians

Received Applications

The Office of Energy is accepting applications for the Renewable Energy Tax Incentives.  Below is a current list of the applications received and their status. Inclusion on this list does not guarantee eligibility or approval of a tax incentive, only that the application has been received as of the date the list was published.

Florida Renewable Energy Tax Incentives Received Applications 4.11.14 [Adobe PDF Document 78.51 KB]

Florida Renewable Energy Technologies Sales Tax Refund

The Florida Renewable Energy Technologies Sales Tax Refund program provides a refund of previously paid Florida sales tax on materials used in the distribution, including fueling infrastructure, transportation, and storage, of biodiesel (B10-B100), ethanol (E10-E100), and other renewable fuels.  An eligible item is subject to a refund one time and must be purchased between July 1 2012, and June 30, 2016.  This program is limited to $1 million in Florida sales tax each state fiscal year for all taxpayers. Applications will be reviewed on a first-come, first-served basis and the amount of sales tax to be refunded will be applied to the fiscal year in which the application is approved.

 

Fiscal Year Appropriation Balance
FY2012-2013 $1 million $1 million
FY2013-2014 $1 million $1 million
FY2014-2015 $1 million $1 million
FY2015-2016 $1 million $1 million
Updated as of April 11, 2014

Florida Renewable Energy Technologies Investment Tax Credit

The Renewable Energy Technologies Investment Tax Credit program provides an annual corporate tax credit equal to 75 percent of all capital costs, operation and maintenance costs, and research and development costs in connection with an investment in the production, storage, and distribution of biodiesel (B10-B100), ethanol (E10-E100), and other renewable fuel in the state. Eligible costs must be incurred between July 1, 2012, and June 30, 2016, and shall not exceed $1 million per state fiscal year for each taxpayer with a limit of $10 million per state fiscal year. Applications must be submitted on or before November 1st of each year and will be reviewed on a first-come, first-served basis. A taxpayer claiming a Renewable Energy Production Credit (below) is ineligible to claim a credit under this program.

 

Fiscal Year Application Due Date Appropriation Balance
FY2012-2013 November 1, 2013 $10 million $3,121,736.04
FY2013-2014 November 1, 2014 $10 million $10 million
FY2014-2015 November 1, 2015 $10 million $10 million
FY2015-2016 November 1, 2016 $10 million $10 million
Updated as of April 11, 2014

Florida Renewable Energy Production Credit

The Florida Renewable Energy Production Credit program provides an annual corporate tax credit equal to $0.01/kWh of electricity produced and sold by the taxpayer to an unrelated party during a given tax year. For the purposes of this credit, renewable energy is defined as electrical, mechanical, or thermal energy produced from a method that uses one or more of the following fuels or energy sources: hydrogen, biomass, solar energy, geothermal energy, wind energy, ocean energy, waste heat, or hydroelectric power. The credit may be claimed for electricity produced and sold on or after January 1, 2013, through June 30, 2016. The combined total amount of tax credits which may be granted for all taxpayers under this section is limited to $5 million in state fiscal year 2012-2013 and $10 million per state fiscal year in state fiscal years 2013-2014 through 2016-2017. Applications for the first eligible production period, January 1, 2013 through December 31, 2013, are due by January 15, 2014. A taxpayer claiming a Renewable Energy Investment Tax Credit (above) is ineligible to claim a credit Renewable Energy Production Credit under this program.

 

Fiscal Year Production Period Application Due Date Appropriation Balance
FY2012-2013 1/1/13 - 6/30/13 January 15, 2014 $5 million $744,632.22
FY2013-2014 1/1/13 - 12/31/13 $10 million $3,028,964.31
FY2014-2015 1/1/14 - 12/31/14 January 15, 2015 $10 million $10 million
FY2015-2016 1/1/15 - 12/31/15 January 15, 2016 $10 million $10 million
FY2016-2017 1/1/16 - 6/30/16 December 1, 2016 $10 million $10 million
Updated as of April 11, 2014