North Carolina solar tax credit expanded for 1 year

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Thursday, April 30, 2015
North Carolina solar tax credit expanded for 1 year
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Governor Pat McCrory signs bill Wednesday but says initiative will expire at end of 2016

RALEIGH (WTVD) -- With the stroke of his pen Wednesday, Governor Pat McCrory extended North Carolina's renewable energy tax credit for one year.

He signed Senate Bill 372 which pushes the expiration from January 1, 2016 to January 1, 2017.

But McCrory said incentives for the solar industry will end after that because it's on its way to becoming independent.

Asked if he favors rooftop residential solar projects or large-scale industrial ones, he sided with industry.

"I think the most conducive and effective way to have cheaper power is to have more large scale at this point in time and let the individual consumer see what's best for their own rooftop type solar power initiative. And they could compare both the capital costs, and the long-term operating costs to see what type of return of investment they'd have over a period of time," said the Governor.

The governor said the state would continue to support and incentivize other, non-solar clean energy sources after the current tax credit expires.

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