Gov. Dannel P. Malloy signed a law exempting commercial renewable energy installations from municipal property tax.
Senate Bill 203 applied to all renewable energy technology but mostly will be used for solar, wind, and fuel cells installations on businesses throughout the state.
The issue came up after the state launched its $1 billion renewable energy credit program and many of the awardees from the first round in 2012 realized the property tax on their new installations would offset any energy savings.
The exemption will be mandatory starting with assessment years commencing on or after Oct. 1.
