New Stimulus Package Geothermal Credits

North Carolina Savings- Federal Savings

Click to see more information on one of the incentives for North Carolina

Renewable Energy Tax Credit (Corporate)

North Carolina offers a tax credit equal to 35% of the cost of eligible renewable energy property constructed, purchased or leased by a taxpayer and placed into service in North Carolina during the taxable year. The credit is subject to various ceilings depending on sector and the type of renewable-energy system. For more information, click here.

Renewable Energy Tax Credit (Personal)

North Carolina offers a tax credit equal to 35% of the cost of eligible renewable energy property constructed, purchased or leased by a taxpayer and placed into service in North Carolina during the taxable year. The credit is subject to various ceilings depending on sector and the type of renewable-energy system. For more information, click here.

Local Option Green Building Incentive

To encourage sustainable building practices, North Carolina law allows all counties and cities to provide reductions or partial rebates for building permit fees. To qualify for a fee reduction, buildings must meet guidelines established by the Leadership in Energy and Environmental Design (LEED) program, the Green Globes program, or another nationally recognized certification program. For more information, click here.

Sales Tax Holiday for Energy-Efficient Appliances

In July 2008, North Carolina enacted legislation (H.B. 2436) establishing a "sales tax holiday" for certain Energy Star-certified products. Energy Star appliances sold between 12:01 a.m. on the first Friday of November and 11:59 p.m. on the following Sunday qualify for the sales tax exemption. For more information, click here.

North Carolina Green Business Fund

The North Carolina Green Business Fund, created in 2007, provides funding to North Carolina small and mid-size businesses, nonprofit organizations, state agencies and local governments to encourage the development and commercialization of "promising" renewable energy and green building technologies. Grants of up to $100,000 are available for the development of commercial innovations and applications in the biofuels industry, sustainable building practices and private sector investment in renewable energy technologies. North Carolina-based businesses and nonprofits with fewer than 100 employees, as well as state and local governmental entities, are generally eligible. For more information, click here.

Progress Energy Carolinas - Home Advantage Builder Rebate Program

The Progress Energy Carolinas' Home Advantage Program is designed to reward home builders, manufactured housing manufacturers, and manufactured housing retailers with incentives for building and selling ENERGY STAR Homes. Cash rebates are available to builders or developers of new single family, multifamily, high-rise multifamily dwellings and manufactured housing. In order to qualify for the whole home rebates, homes must be certified Energy Star. For more information, click here.