Puerto Rico offers a property tax exemption up to 100% for renewable energy systems and related equipment. Eligible renewable energy systems include solar thermal systems, biomass systems, geothermal systems, and a wide range of other technologies.
Puerto Rico offers tax credits and incentives to local and foreign companies that produce renewable energy for consumption in the territory or manufacture equipment to generate renewable energy. Eligible companies can have a fixed income tax rate as low as 4% for 15 years, obtain
The Puerto Rico Green Energy Trust, created by the Puerto Rican Government, provides funding for research, development, and infrastructure projects related to renewable and clean energy. A wide range of renewable energy projects are eligible to receive support.
Puerto Rico requires that state agencies and judicial entities must consider entering into energy savings performance contracts (ESPCs) as a first option when undertaking energy savings projects. The agency or judicial entity does not have to move forward with an ESPC if it is not
The Puerto Rico Energy Program of the Department of Economic Development and Commerce provides funding for energy efficiency and renewable energy projects, energy audits for municipalities, and guidance on public energy policy compliance through the State Energy Program.
Puerto Rico’s Renewable Portfolio Standard requires all retail electric providers with a capacity of 50,000 MWh per year to derive 100% of retail electricity sales from renewable energy resources by 2050. There are incremental requirements leading up to 2050. In addition, coal must be phased
Qualified energy producers and other businesses in the renewable energy industry can be granted an exemption from industrial income, municipal and Commonwealth taxes on real and personal property, license fees, excise, and other municipal taxes, among other benefits. The tax exemption is 90% for industrial
