Maryland Energy Storage Income Tax Credit

The Maryland Energy Administration awards an Energy Storage Income Tax Credit on a first-come, first-served basis to residential and commercial taxpayers who have installed an energy storage system on their property. According to the FOA for FY22, qualifying systems include those that store thermal energy. A total of $450,000 of funding is reserved for commercial taxpayers and the tax credit certificated is calculated as the lower amount of either 30% of the total installed costs of the energy storage system or $150,000 for an energy storage system installed on a commercial property.