Arizona Revised Statutes Title 42 — Taxation
A.R.S. § 42-14155
Valuation of renewable energy and storage equipment; definitions
42-14155 . Valuation of renewable energy and storage equipment; definitions A. Through December 31, 2040, the department shall determine the full cash value of taxable renewable energy and storage equipment in the manner prescribed by this section. B. The full cash value of renewable energy and storage equipment is twenty percent of the depreciated cost of the equipment. Depreciated cost shall be determined by deducting depreciation from taxable original cost. Depreciation shall not exceed ninety percent of the adjusted original cost. C. For the purposes of this section, all energy storage equipment, both colocated with renewable energy and stand-alone energy storage equipment, qualifies for valuation pursuant to this section. D. For the purposes of this section:
# 1.
"Depreciation" means straight-line depreciation over the useful life, as adopted by the department, of the item of property.
# 2.
"Electric utility scale" means a person that is engaged in a business activity described in section 42-5063, subsection A or such person's equipment or wholesale electricity suppliers.
# 3.
"Energy storage" means commercially available technology for electric utility scale that is capable of absorbing energy, storing energy for a period of time and thereafter dispatching the energy and that uses mechanical, chemical or thermal processes to store energy.
# 4.
"Original cost" means the actual cost, without trending, of acquiring or constructing property, including additions, retirements, adjustments and transfers.
# 5.
"Renewable energy and storage equipment" means electric generation facilities, electric transmission, electric distribution, energy storage, gas distribution or combination gas and electric transmission and distribution and transmission and distribution cooperative property that is located in this state, that is used or useful for generating, storing, transmitting or distributing electric power, energy or fuel derived from solar, wind or other nonpetroleum renewable sources not intended for self-consumption, including materials and supplies and construction work in progress, but excluding licensed vehicles and property valued under sections 42-14154 and 42-14156.
# 6.
"Taxable original cost" means the original cost reduced by the value of any investment tax credits, production tax credits or cash grants in lieu of investment tax credits applicable to the taxable renewable energy and storage equipment.
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In this chapter (40 sections)
- 42-14001 · Properties subject to valuation by the department;…
- 42-14002 · Notice of preliminary valuation; hearing
- 42-14003 · Information considered in determining valuation; notice of…
- 42-14004 · Change of valuation
- 42-14005 · Appeal from valuation determined by department
- 42-14006 · Signatures for documents; alternative methods
- 42-14051 · Annual determination of valuation
- 42-14052 · Annual report for determining valuation; failure to file;…
- 42-14053 · Determining and reporting valuation of producing mines and…
- 42-14054 · Determining and reporting valuation of closed mines
- 42-14101 · Definitions
- 42-14102 · Annual determination of valuation
- 42-14103 · Annual report for determining valuation; violation;…
- 42-14104 · Determining and reporting valuation
- 42-14105 · Basis for valuing producing oil, gas and geothermal resource…
- 42-14106 · Separate listing, assessment and taxation
- 42-14151 · Annual determination of valuation; definition
- 42-14152 · Annual report for determining valuation; failure to file;…
- 42-14153 · Determining and reporting valuation
- 42-14154 · Computing valuation of electric transmission, electric…
- 42-14155 · Valuation of renewable energy and storage equipment;…
- 42-14156 · Computing valuation of electric generation facilities;…
- 42-14157 · Allocation of electric transmission, distribution and…
- 42-14158 · Existing generation facilities; computing adjusted original…
- 42-14159 · Computing valuation of distribution cooperatives; standard…
- 42-14201 · Annual determination of valuation
- 42-14202 · Annual report for determining valuation; failure to file;…
- 42-14203 · Determining and reporting valuation
- 42-14204 · Computing valuation of pipelines; definitions
- 42-14205 · Adjustments to base value to reflect market value
- 42-14251 · Definitions
- 42-14252 · Annual determination of valuation
- 42-14253 · Annual report for purposes of determining valuation; failure…
- 42-14254 · Determination of value
- 42-14255 · Assessment, levy and collection of tax; limitation on small…
- 42-14256 · Administrative review and appeal
- 42-14257 · Debt; lien
- 42-14301 · Definitions
- 42-14302 · Situs and valuation of cars for tax purposes
- 42-14303 · Annual statement