Energy Tax Credit Form

Webtools Form 447240223 submitted by:
Tim Mies 
College of Agricultural, Consumer and Environmental Sciences (KL), Department of Crop Sciences (802), Staff
11/09/2023 11:52 A.M.

Thank you for submitting the Energy Tax Credit Form. The applicable University Liaison will contact you after it has been reviewed.

1. Location:
UIUC

2. Applicant College/Department:
Crop Sciences

3. Project number and/or building (if applicable):
near Energy Farm

4. Anticipated beginning of construction date:
2/1/2024

5. Anticipated placed in service date:
6/1/2024

6. Total project budget (basis or cost):
91,000

7. Estimated construction costs (only include total energy project cost, including contingency):
81,600

8. Will the property be owned by the university as a depreciable asset?
Yes

9. Will the property be financed with tax-exempt bonds?
No

10. If yes, what percentage of the property is financed with tax-exempt bonds?

11. Is the energy property funded by a restricted grant or restricted forgivable loan**?
No

12. If yes, what amount is funded by a restricted grant or restricted forgivable loan?

13. Provide a brief description of the project and the energy component that may qualify for the tax credit:
Project will connect existing 15kw solar panels to campus electrical grid.

14. Briefly describe the proposed intended use of the tax credit funds:
Funds will be used to support campus ICAP efforts

15. What tax credit is applicable for the project?
Investment tax credit IRC Section 48: qualified energy property or technology (Appendix A)

16. Is this energy property funded by a grant made under Section 1603 of the American Recovery and Reinvestment of 2009 (The 1603 Program: Payments for Specified Energy Property in lieu of Tax Credits)?
No

17. Which of the following options describes the property?
equipment which uses solar energy to generate electricity, to heat or cool (or provide hot water for use in) a structure, or to provide solar process heat, except property used to generate energy for the purposes of heating a swimming pool, or

18. Is there qualified interconnection property associated with the project?
No

19. If yes, what is the basis (cost) of any qualified interconnection property associated with the energy project?

20. Is the property part of a clean hydrogen production facility?
No

21. Does the project meet one (1) of the following requirements (five (5) times base credit amount for a total of 30%)?
Yes

22. If yes, which requirement is met?
Item #1

23. Does the project meet the domestic content bonus credit**?
No

24. Is the project located in an energy community**?
No

25. Do you want to proceed?
Yes

53. Submission and Liaisons
Timothy Mies, Director Energy Farm Operations, 11/09/2023