As of January 1, 2000, individuals and businesses in North Carolina can take advantage of the most progressive renewable energy tax incentives in the country. A bill that gathers all renewable energy sources – biomass, hydroelectric, solar, daylighting and wind – into a single tax credit passed unanimously by both the House and Senate.
All of these technologies qualify for a 35 percent credit, limited to the cost of installing each technology. Residential biomass, hydro, PV and wind are limited to $10,500 per system. The limit for residential solar hot water is $1400; active space heating and passive technologies, $3500. Commercial/industrial systems for all technologies is capped at $250,000.
The NC Solar Energy Association Policy committee spearheaded the bill’s creation by gaining sponsorship commitments from Representatives Paul Juebke (D-Durham), Joe Hackney, (D-Chapel Hill), and Danny McComas (R-Wilmington). They worked together to craft the new tax credit bill which expanded an earlier bill that would otherwise have been subject to sunset provisions.
Loading...