Renewable Energy Tax Credit (Corporate)

Renewable Energy Tax Credit (Corporate);
State: North Carolina

  • Incentive Type: Corporate Tax Credit
  • Eligible Renewable/Other Technologies: Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Heat Pumps, CHP/Cogeneration, Spent pulping liquor, Solar Pool Heating, Daylighting, Anaerobic Digestion, Ethanol, Methanol, Biodiesel, Geothermal Direct-Use
  • Applicable Sectors: Commercial, Industrial
  • Amount:35%
  • Maximum Incenative: $2.5 Million per installation*
  • Eligibe System Size: No stated size limits for systems. Maximum of 50 kWh battery storage capacity per kW of hydro generator capacity (DC rated); maximum of 35 kWh battery storage capacity per kW for other technologies
  • Equipment Requirements: System must be new and in compliance with all applicable performance and safety standards. Specific equipment and installation requirements vary by technology
  • Carryover Provisions: Credit must be taken in five equal installments; allowable credit may not exceed 50% of a taxpayer’s state tax liability for the year, reduced by the sum of all other state tax credits
  • Program start date: 01/01/2009
  • Program Expiration Date: 12/31/2015
  • * House Bill 1973 of 2010 specified that systems installed for business purposes at a site that has been certified as an eco-industrial park by the Secretary of Commerce are subject to a higher tax credit cap of $5 million. Section 5.1 of the bill describes the characteristics required to be deemed an eco-industrial park

Contact:

Brian Lips
North Carolina Solar Center
Campus Box 7401
North Carolina State University
Raleigh, NC 27695-7401
Phone: (919) 515-3954
E-Mail: brian_lips@ncsu.edu
Web Site: http://www.ncsc.ncsu.edu

Public Information
Department of Revenue
Post Office Box 25000
Raleigh, NC 27640-0640
Phone: (877) 252-3052
Phone 2: (877) 308-9103
Web Site: http://www.dornc.com/