Dear Deans, Directors and Department Heads,
The University of Illinois is now eligible to apply for tax credits for specific energy-saving initiatives. Credits generally range from 6 to 30 percent and could be as high as 50 percent of the clean energy project’s cost basis. The credits may provide significant savings for new energy initiatives that drive progress toward fulfilling the university’s climate commitments. For additional information, please see the Energy Tax Credits Summary.
When a department identifies a potential qualifying project, it must initiate the process to request a determination of eligible tax credits using the Energy Tax Credit Form. Timing must be factored into plans for qualifying projects or purchases, as receiving funds depends on IRS acceptance and processing time.
Contact
Please contact UIUC tax credit liaison Morgan White at mbwhite@illinois.edu or (217) 333-2668 for questions concerning qualification for these tax credits on your potential project.
Regards,
Terry Ann Thompson, CPA
Senior Director for Treasury Operations
Michael A. Wilson, II
Assistant Vice President, Capital Programs & Utility Services