June 27, 2010 | admin | Comments 0

N.C. moves towards renewable-energy bill passage

In North Carolina, a bill to create a 25% tax credit for the construction of facilities used to manufacture renewable energy has cleared the House. It now heads to the state Senate’s finance committee. The credit applies to the construction of a variety of renewable-energy projects, including biomass, hydro-generation, solar, wind and geothermal heat pumps. As the bill reads currently, the credit would be taken against state income or business franchise taxes.

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