Solar & Battery Regulation & Incentive Programs

Green Jobs Tax Credit

Program Overview


Category:
Financial Incentive
Program Type:
Industry Recruitment/Support
Implementing Sector:
State
State:
Virginia
Eligible Storage Technologies:
Solar Water Heat, Solar Space Heat, Wind (All), Biomass, Hydroelectric, Geothermal Heat Pumps, Landfill Gas, Solar Pool Heating, Wind (Small), Geothermal Direct-Use, Fuel Cells using Renewable Fuels
Incentive Amount:
$500 per each job created
Maximum Incentive:
$175,000
Terms:
Must create a new job in the alternative energy/renewable energy fields. The Department of Commerce and Trade will promulgate rules regarding qualifying jobs.
Administrator:
Office of the Secretary of Commerce and Trade
Applicable Sectors:
Commercial, Industrial
Start Date:
07/01/2010
Expiration Date:
12/31/2014
Last Updated:
01/10/2016

Summary

NOTE: This tax credit expired at the end of 2015. This summary here is for information purpose only. 

In April 2010, Virginia enacted the green jobs tax credit. For every green job created with a yearly salary of $50,000 or more, the company will earn a $500 income tax credit for five years. The Office of Commerce and Trade will develop a full list of jobs eligible to qualify for the tax credit. Companies will be allowed tax credits for up to 350 green jobs created. If the taxpayer does not have enough tax liability to take the full credit, it may be carried forward for up to 5 years. The program is set to expire on December 31, 2014. 

Applicants may also be eligible for the Enterprise Zone Grant Program if creating jobs within defined geographical areas.

Definitions

Green Jobs
Defined as jobs in the manufacturing and operation of renewable or alternative energy products and technologies used to generate electricity and energy.

Alternative Energy Sources
Eligible alternative energy sources are defined as "hydrogen and fuel cell technology, landfill gas, geothermal heating systems, solar heating systems, hydropower systems, wind systems, and biomass and biofuel systems."


Authorities

NameEnacted DateEffective DateExpired Date
S.B. 623 (duplicate bill H.B. 803)04/02/201007/01/2010