North Carolina Governor Patrick McCrory has signed Senate Bill 372, which extends the tax credit for renewable energy projects in the state for one year.
Renewable energy projects under 65MW and 80% complete by 1 January 2016 will now have access to the tax credit for an extra year up to 1 January 2017, after it was originally set to expire on 1 January 2016. Projects over 65MW will have to be 50% complete by 1 January 2016 to qualify for the tax credit.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
McCrory said: “I am pleased to sign Senate Bill 372 to bring new renewable energy projects online in North Carolina. Renewable energy is an important part of an all-of-the-above energy policy that produces clean power, creates jobs and generates revenue in communities that need it most.”
The news comes after a bill proposing to cut in half the lifetime and targets of North Carolina’s Renewable Portfolio Standards (RPSs) was voted down in April.
House Bill 681 introducing the Energy Ratepayers Protection Act failed to pass the House Public Utilities Committee on 22 April.