29 Apr '15, 2pm

North Carolina Opts for Delayed Sunset of the State Tax Credit

North Carolina Opts for Delayed Sunset of the State Tax Credit

Hold onto your hats, y’all — it’s going to be a wild year for North Carolina solar. Last week, the North Carolina legislature passed a bill offering a soft landing to the official end date for the state’s 35 percent state tax credit. While the tax credit cliff is scheduled for December 31, 2015, new legislation will extend eligibility for projects that are “significantly complete” but not operational by the end of 2015. When signed by Governor McCrory, the Renewable Energy Safe Harbor Act will provide some much-needed certainty to the number-four solar market in the country. As the tax credit deadline looms, the North Carolina solar industry, which employs 5,600 people and includes some 166 companies, has been racing towards the same goal: commercial operation by December 31, 2015. This drop-dead deadline combined with lengthy interconnection queues, overstretched EPC prov...

Full article: http://www.renewableenergyworld.com/rea/blog/post/2015/04...

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