RALEIGH — Opponents of the state’s preferential treatment of renewable energy sources said North Carolina ratepayers should be relieved by the passage of House Bill 760 by a 77-32 vote on Wednesday after numerous delays, repeated compromises, and contentious debate. Backers of the legislation noted that the state has handed out more than $1 billion in tax credits and rebates to solar producers.
RALEIGH — The House on Tuesday approved a Senate bill that would extend the state’s 35 percent renewable energy tax credit — set to expire at the end of 2015 — by one year to allow several major solar farms to hook up to the power grid. Over five years, the solar companies could collect as much as $183 million in tax credits. Senate Bill 372 now heads to Gov. Pat McCrory.
RALEIGH — The legislation would place a 6 percent cap on the state’s Renewable Energy and Energy Efficiency Portfolio Standard. That is the name of the state program mandate requiring utilities to use renewable energy. The bill would end that requirement in 2018. Under current law, the cap would rise to 12.5 percent by 2021. It leaves open the use of renewable energy in the state’s mix of fuel sources if renewables can be produced at the same cost as traditional power sources or less.
RALEIGH — The state’s 35 percent renewable energy tax credit is scheduled to expire Dec. 31. Senate Bill 372 channels a one-year extension primarily to a handful of giant solar farms as large as 3,000 acres being built in eastern North Carolina. Supporters cite the economic development potential the farms could bring, along with the benefit of providing certainty to investors in projects now under construction.
