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N.C. Tax Credit |
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| Radiant Floor | Solar Heated Water | Solar Electricity | Micro Hydro | Wind Energy |
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NORTH CAROLINA STATE INCOME TAX CREDIT FOR RENEWABLE ENERGY PROPERTY: The tax credit equals 35 % of the cost of renewable energy property constructed, purchased, or leased by a North Carolina income taxpayer and placed into service in the state during the taxable year. For single-family dwelling, the credit is taken for the taxable year in which the property is placed in service. Any credit not applied for the taxable year can be applied over the following 5 years. The credit ceilings per dwelling unit are: Domestic hot water and swimming pools $ 1,400.00 Active space heating and domestic hot water, active space heating and passive space heating $ 3,500.00 Any other renewable energy (i.e. Wind, solar electric, hydro etc...) $ 10,500.00
For all other property the credit can be applied towards franchise tax or income tax, and must be taken in five equal installments beginning with the year the property was placed into service. The credit ceiling is $ 250,000.00 per installation.
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