Smart Money
Experience rebates of up to 80%
There has never been a better time to switch to solar. The combination of technological improvements and government incentives have made solar more affordable than ever. In many locations customers can experience savings as large as 80% (State & Federal Incentives + depreciation). But the big benefit is that once the system is installed you will lock in your energy costs with clean renewable power for more than 30 years.
Solar is a safe, long term investment with an excellent financial return. Solar energy investments commonly generate an ROI of 40-50%. No other long term investment offers comparable returns with such low risk.
Solar continues to generate value long after it is paid off. Thanks to recent legislation, many utilities are now required to pay customers for renewable energy. In many cases, utilities and NC Greenpower will pay solar system owners 2 times more for solar power than what they charge those customers for conventional electricity.
Solar energy reduces your impact on the environment. Solar is the cleanest and most sustainable energy source available, with no fuel, no moving parts, and no emissions. The environmental impact of the average solar electric system is the equivalent to planting nearly 39 trees per year.
Solar energy is an exciting new way for your company to make a bold statement showing your commitment to environmental sustainability. Customers, government officials, and investors will all take notice of this positive step.
Solar is a smart investment for your home, your business and the environment.
North Carolina Financial Incentives
The State of North Carolina offers a 35% tax credit toward the entire purchase price of a solar energy system. This is in addition to the federal tax credit of 30%. Both of these credits can be taken together and will combime with any other utility incentive and/or SREC sells generated from an installed photovoltaic system. Below are the North Carolina details for the various incentives and credits North Carolina has to offer for both residential and commercial applications.
NC State Residential 35% Tax Credit
- A maximum of $10,500 for the installation of a photovoltaic system.
- A maximum of $1,400 for the installation of a solar thermal (hot water) system for domestic hot water only.
- A maximum of $3,500 per dwelling unit for the installation for active space heating , space heating combined with a domestic hot water loop.
Click here to download the NC tax credit form.
The 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. Qualifying renewable-energy systems used for a non-business purpose must take the maximum credit amount allowable for the tax year in which the system is installed. If the credit is not used entirely during the first year, the remaining amount may be carried over for the next five years. An extension may be filed if neccesary.
NC State Commercial 35% Tax Credit
A maximum of $2.5 million for the installation of a photovoltaic and/or solar thermal (hot water) system.
