Credits are available for a 10-year period:
$0.00075/kWh for electricity generated through 9/30/2007;
$0.001/kWh from 10/1/2007 - 12/31/2009;
$0.00075/kWh from 1/1/2010 - 12/31/2012;
$0.0005/kWh on or after 1/1/2013
Tax Credit Amount
The value of the credit is based on the amount of electricity produced, and the rate varies based on the year in which the electricity is generated according to the following schedule:
- $0.00075 per kilowatt-hour (kWh) of electricity generated after July 14, 2006, but before October 1, 2007;
- $0.001 per kWh for electricity generated on or after October 1, 2007, and before January 1, 2010;
- $0.00075 per kWh for electricity generated on or after January 1, 2010, and before January 1, 2013; and
- $0.0005 per kWh for electricity generated on or after January 1, 2013.
The credit may be earned for 10 years after the date that the facility is placed in operation on or after July 14, 2006.
The total amount of renewable energy tax credits that may be used by all taxpayers is limited to $50,000 without additional authorization from the Nebraska Legislature.
This credit may not be claimed by a producer who receives a sales tax exemption for community-based energy development projects.