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NC lets sun set on solar tax credit
http://www.newsobserver.com/opinion/opn-columns-blogs/ned-barnett/article38700429.html[font face=Serif]October 10, 2015
[font size=5]NC lets sun set on solar tax credit[/font]
By Ned Barnett
[font size=3]As much as North Carolina’s Republican leaders talk about cutting taxes to create jobs and as much as they worry about the state’s rural-urban economic divide, they should have loved the state’s 35 percent tax credit for investment in renewable energy. The tax break has generated a solar power boom that has created jobs and added value to rural land.
Instead, they decided to let the credit expire the end of this year.
Spurred by federal and state tax credits and requirements that utilities use more renewable energy, solar power has grown in North Carolina from a fledgling, balky, expensive energy source to an expansive and increasingly cheaper one. North Carolina now is one of the top four states in installed solar capacity and second behind California in large, utility-scale projects.
In 2014, the tax credit for renewable energy claimed by the state’s businesses and residents totaled $126 million, but it generated $717 million in spending, according to data from the N.C. Department of Revenue.
…[/font][/font]
[font size=5]NC lets sun set on solar tax credit[/font]
By Ned Barnett
[font size=3]As much as North Carolina’s Republican leaders talk about cutting taxes to create jobs and as much as they worry about the state’s rural-urban economic divide, they should have loved the state’s 35 percent tax credit for investment in renewable energy. The tax break has generated a solar power boom that has created jobs and added value to rural land.
Instead, they decided to let the credit expire the end of this year.
Spurred by federal and state tax credits and requirements that utilities use more renewable energy, solar power has grown in North Carolina from a fledgling, balky, expensive energy source to an expansive and increasingly cheaper one. North Carolina now is one of the top four states in installed solar capacity and second behind California in large, utility-scale projects.
In 2014, the tax credit for renewable energy claimed by the state’s businesses and residents totaled $126 million, but it generated $717 million in spending, according to data from the N.C. Department of Revenue.
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