Renewable energy projects, such as wind, solar, and geothermal, not only benefit from tax credits but also reduce the daily operating costs of a business. For most such projects, the federal credit is 30% and the North Carolina credit is 35%. Specific limitations apply for certain types of systems, so be sure you contact us about the details of your project and tax situation. Businesses may not realize the full tax credit if they don't have tax liability to offset. If rural areas are involved, the U.S. Department of Agriculture (USDA) also offers a competitive 25% grant. In addition to the tax credits, in many situations Solar Renewable Energy Credits (SRECs) can be sold on the open market.  In effect, they can reduce the cost of these systems to a fraction of the initial outlay and reduce payback time to under 5 years.

There are a lot of great companies and individuals in the Wilmington, NC area that are involved with the Cape Fear Green Building Alliance (CFGBA). They can help you implement any project that you desire.

For more information on business energy tax credits, contact us or call us at 910-256-3456.