Solar power in North Carolina has been increasing rapidly, from less than 1 MW in 2007 to over 40 MW in 2010, due to a 30 per cent federal grant known as a 1603 grant, available through December 31, 2011,[1] and a 30 per cent tax credit available through 2016. The 30% credit is in addition to any local incentives, and pays for 30% of the cost of installation through a tax credit, which can be rolled over if less taxes are owed that year. The difference between a tax deduction and a tax credit is substantial, as a deduction depends on your tax rate to determine your savings, but a tax credit is directly available to repay the cost of installation.[2][3] A 2012 estimate indicates that a typical 5 kW solar array will pay for itself in 6 years, and thereafter generate a substantial profit.[4][5]
SunEdison has built a 17.2 megawatt solar farm in Davidson County.[6]
- Source: NREL[7]
Installed photovoltaics[8][9][10][11]
| Year |
Total (MW) |
Installed (MW) |
% Change |
| 2007 |
0.7 |
|
|
| 2008 |
4.7 |
4 |
571% |
| 2009 |
12.5 |
7.8 |
166% |
| 2010 |
40.0 |
28.7 |
220% |
| 2011 |
85.5 |
45.5 |
114% |
[edit] External links
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