North Carolina businesses and public organizations may take advantage of many financial incentives for eligible renewable energy and efficiency projects.
The most up-to-date resource for incentives is the Database of State Incentives for Renewables and Efficiency (DSIRE) website. Example Federal and State Tax Incentives, Grants, Loans and Utility Rebate Programs available include the following:
Energy Efficiency Grants:
USDA Rural Energy for America Program (REAP). Grants for up to 25% of the cost of eligible renewable and efficiency projects for rural small businesses and agriculture. Learn about WRP Energy Assessment offerings needed for these applications.
Utility Energy Efficiency Incentives for Businesses:
- Duke Energy Progress: Energy Efficiency for Business Incentives
- Small Business Energy Saver Program: Duke Energy – turn-key energy audit and installation upgrades program for small business and eligible meters under 100 kW focused on lighting, HVAC, and refrigeration.
- PSNC Energy - Natural gas rate deductions for commercial rate structure 125 for buildings which meet LEED or equivalent (Energy Star) standards ($0.05/therm)
Other Tax Credit and Financial Incentives:
- 35% NC Renewable Energy Tax Credit (to end December 31, 2015).
- 30% Federal Business Energy Tax Credit - solar, fuel cell, small wind.
- 10% Federal Business Tax Credit - geothermal, micro turbines and CHP.
- Qualified Energy Conservation Bonds (QECBs) for local governments.
Energy Loan Improvement Program (ELIP). The North Carolina State Energy Program has a low-interest revolving loan program for qualifying energy efficiency and renewable projects (Contact Star Hodge at 919 707-9240)