This is from November’s “Carolina Regulatory Update” published by Resource Supply Management. The newsletter is distributed by email and is not available online.
NC Solar Farm Partnerships
Some of our readers may have noticed that groups in North Carolina are continually announcing new solar farm projects. This is not entirely the result of the amount of sunshine in the state. Investors in North Carolina solar farms can realize returns from 30% federal tax credits, 35% NC tax credits, accelerated depreciation as well as the revenue from the yearly sale of the electricity to a utility company. Innovative Solar Systems, LLC, a developer of solar farms in NC, was at the Solar Power International (SPI) trade show the end of October selling shovel-ready solar farm projects. Construction on these projects will have to be started soon to realize the maximum return from NC tax credits. One must ask how many of these projects would actually fly without the tax credits and other government incentives.
