North Carolina Solar Rebates, Incentives and Tax Programs
In 2007 North Carolina became the first state in the Southeast to set an renewable energy reduction goal (12.5% by 2021 – modest, but better than none) and to implement a tax rebate incentive program. The tax program is quite simple. The credit covers up to 35% of the cost of a solar electricity or other renewable energy system, capped at $10,500 for residential systems and a whopping $2.5 million for commercial and industrial systems.
Once installed, your system is eligible for net-metering. This is a program with your local utility which allows you to “roll-over” unused energy from month to month. So, let's say in September you produce an oversupply of power but in December you don't produce enough energy to completely power your home. You can use credits from the month of September to cover your bill in December. However, you do not receive cash back for credits you have remaining at the end of the billing year.
Additionally, your system will be exempt from property tax increases, and you may be eligible for programs such as low interest rate loans from the state or local utility. Also, don't forget that you can claim 50% of the total cost on your federal taxes as well. In combination, these programs can lead to significant savings.