Solar power in North Carolina

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Solar power in North Carolina has been increasing rapidly, from less than 1 MW in 2007 to nearly 470 MW in 2013, due to declining panel costs, a 30 percent federal grant known as a 1603 grant, available through December 31, 2011,[1] and a 30 percent 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] Other prominent solar contractors in North Carolina include Strata Solar, Baker Renewable Energy and FLS Energy.[7]

Source: NREL[8]
Installed photovoltaics[9][10][11][12][13][14]
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%
2012 207.9 122.4 143%
2013 469.0 261.1 126%

External links[edit]

References[edit]

  1. ^ 1603 Treasury Program
  2. ^ US Federal Incentives for Solar, Wind, Renewable Energy & Energy Efficiency
  3. ^ The Federal Solar Tax Credit
  4. ^ North Carolina
  5. ^ Levelized Cost of Solar Photovoltaics in North Carolina
  6. ^ Duke Energy and SunEdison Announce Completion of 17.2MW Solar Farm
  7. ^ Solar Power World
  8. ^ "PV Watts". NREL. Retrieved 17 May 2012. 
  9. ^ Sherwood, Larry (July 2014). "U.S. Solar Market Trends 2013". Interstate Renewable Energy Council (IREC). Retrieved 2014-07-28. 
  10. ^ Sherwood, Larry (July 2013). "U.S. Solar Market Trends 2012" (PDF). Interstate Renewable Energy Council (IREC). p. 16. Retrieved 2013-10-11. 
  11. ^ Sherwood, Larry (August 2012). "U.S. Solar Market Trends 2011". Interstate Renewable Energy Council (IREC). p. 17. Retrieved 2012-08-16. 
  12. ^ Sherwood, Larry (June 2011). "U.S. Solar Market Trends 2010". Interstate Renewable Energy Council (IREC). Retrieved 2011-06-29. 
  13. ^ Sherwood, Larry (July 2010). "U.S. Solar Market Trends 2009". Interstate Renewable Energy Council (IREC). Retrieved 2010-07-28. 
  14. ^ Sherwood, Larry (July 2009). "U.S. Solar Market Trends 2008". Interstate Renewable Energy Council (IREC). Retrieved 2010-07-24.