North Carolina offers many incentive programs to defray the costs of installing solar collection equipment. The most cost effective of these are grants and rebates, and there are a few available in North Carolina.
Summary of North Carolina Incentive Programs
•Federal Tax Credit 30%
•State Tax Credit 35%
•Green building initiatives
North Carolina Grant and Rebates
The state of North Carolina does not offer any rebate programs, but they do have a grant program available to commercial, agricultural, and the public sectors up to $100,000. Additionally, a number of public utility companies offer rebates of $500-$1000 for installing solar equipment.
North Carolina Tax Credits
North Carolina has a tax credit program available in the amount of 35% for both businesses and consumers. There is also a property tax exemption, and property tax abatement for up to 80% of costs incurred for the property installed, and sales tax exemption for the equipment purchased. There are also production incentives from $.18 to $.20 kWh for both residences and businesses. Finally, there are numerous green building initiatives available in varying amounts.
Financing Options
There is a state loan program available at 3%, and Brunswick Electric Membership Corporation offers a loan program at 5%. Additional lending options are available through federal government loan programs.
For additional information visit the DSIRE:Database of State Incentives for Renewables & Efficiency
