United States taxes and incentives for renewable energy - KPMG Global Energy and Natural Resources.
Production Tax Credit (PTC)
Applicable for wind, geothermal, landfill gas, trash combustion, open-loop biomass, closed-loop biomass, hydropower and wave tide.
Investment Tax Credit (ITC) in lieu of the PTC
Applicable for facilities that are eligible for the PTC and that begin construction before 2014.
Investment Tax Credit (ITC)
Applicable for solar, geothermal, qualified fuel cell or micro turbine property, combined heat and power systems, small wind and geothermal heat pumps.
Grant in lieu of PTC and ITC
Applicable for tangible personal property or other property that is an integral part of a qualified facility (as defined by the PTC and ITC rules).
Renewable Portfolio Standards (RPS)
This standard generally places an obligation on electric supply companies to produce a specified fraction of their electricity from renewable energy sources and enumerates mechanisms that are permitted to achieve compliance, such as renewable energy credits (RECs). Currently no federal RPS legislation has been enacted. A total of 29 states and the District of Columbia have an RPS. The states include Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Washington and Wisconsin.