Renewable Energy Equipment Manufacturer Incentive

July 14, 2021

Summary

This incentive has been repealed according to NC G.S. § 105-129.16I, effective for a renewable energy property facility placed in service on or after January 1, 2014.

In addition to North Carolina's 35% corporate tax credit for renewable energy installations, the state offers a corporate income tax credit to manufacturers of renewable-energy products and equipment. The credit is equal to 25% of the installation and equipment costs of construction, with no maximum limit. The entire credit may not be taken for the taxable year in which the costs are paid but must be taken in five equal installments beginning with the taxable year in which the costs are paid. However, the credit cannot exceed 50% of the taxpayer's tax liability in one year.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	North Carolina
Incentive Type:	Industry Recruitment/Support
Web Site:
Administrator:
Start Date:
Eligible Renewable/Other Technologies:	Solar Water Heat Solar Space Heat Solar Thermal Electric Solar Photovoltaics Wind (All) Biomass Hydroelectric Landfill Gas Wind (Small) Anaerobic Digestion
Incentive Amount:	25% of construction
Maximum Incentive:	None
Terms:	Credit taken in equal installments over 5 years; Unused credit may be carried forward for 10 years

Authorities

Name:	N.C. Gen. Stat. § 105-130.28
Effective Date:	1/1/00
Expiration Date:	1/1/06

Contact

Name:	Bob McGuffey
Organization:	North Carolina Solar Center
Address:	Campus Box 7401 Raleigh NC 27695-7401
Email:	bob_mcguffey@ncsu.edu

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.