Gov. Martin O'Malley, D-Md., has released his 2010 energy agenda, which is focused on increasing renewable energy production and tax credits. Key provisions include an acceleration of the state's solar renewable portfolio standard (RPS) and extension of renewable energy tax credits for businesses.
The solar RPS legislation would increase the state's solar mandate in 2011-2017, making the phase-in of the solar RPS more evenly distributed over the next decade and providing more long-term support for Maryland's growing solar market, according to the governor's office. This change will put the state's solar goals more in line with those of New Jersey and Delaware.
In addition, while reauthorizing a renewable energy tax credit that currently expires at the end of 2010, the governor plans to retain an existing program cap of $25 million. The credit offers Marylanders a state income tax credit, limited to $2.5 million, to any eligible taxpayer. The rate is 0.85 cents per kWh for electricity from qualified resources, and 0.50 cents per kWh for electricity generated from co-firing a qualified resource with coal.
SOURCE: Office Of Gov. Martin O'Malley
