Income Tax Credit Carryover

Excess income tax credits claimed for a renewable energy investment made before January 1, 2018, can be carried over for 20 income tax years following the year the credit was originally allowed, in addition to any years the tax credit may have been deferred. The carryover is 22 income tax years for renewable energy projects that occur in an enterprise zone, subject to approval by the Colorado economic development commission. Eligible types of renewable energy investments include solar thermal electric, photovoltaic, landfill gas, wind, biomass, hydroelectric, geothermal electric, recycled energy, anaerobic digestion, and renewable fuel cell projects.