Renewable Energy Tax Credit To Be Extended

North Carolina lawmakers are close to extending and expanding a state income tax credit for renewable energy generators people install on their property.

The House is scheduled to take final legislative action on
extending the tax credit by five years to 2016.

The credit is worth 35 percent of the cost of the unit, which
would include up to $8,400 for the cost of home installation for a
geothermal heat pump. The cost of installing a heat pump in North
Carolina ranges from $17,500 to $27,000.

The North Carolina Solar Center at N.C. State said about 20 to
30 are installed each year before the tax credit.

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