Senate Bill 2077 Summary

• Establishes refundable income and franchise tax credits for purchasing and installing solar energy systems (photovoltaic, solar thermal) and energy efficiency services in Mississippi residences and small multifamily units (4 units or less).

• Solar electric credit: $1.50 per DC watt for first 8kW installed; energy storage credit: $0.20 per watt-hour for first 20kWh of battery capacity; solar thermal credit: 50% of first $5,000 in eligible costs; energy efficiency credit: 35% of first $10,000 in eligible costs.

• Limits one solar electric credit and one solar thermal credit per residence or multifamily unit; taxpayers may assign credit rights to financing entities with written declaration to the Department of Revenue.

• Requires installation by contractors licensed by Mississippi State Board of Contractors with certifications from NABCEP, Solar Energy International, Building Performance Institute, or similar programs; solar systems must include revenue-grade monitoring and remain in place for minimum 5 years.

• Credits decline by 10% annually beginning one year after effective date and expire 10 years from July 1, 2017; excess credits generate refunds from Department of Revenue within 180 days.