| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | North Carolina |
| Incentive Type: | Property Tax Incentive |
| Administrator: | N.C. Department of Revenue |
| Start Date: | 07/01/2008 |
| Eligible Renewable/Other Technologies: | Solar Thermal Electric, Solar Photovoltaics |
| Name: | N.C. Gen. Stat. § 105-275 (section 45) |
| Name: | North Carolina Department of Revenue Solar Energy Electric Systems Memo |
In August 2008, North Carolina enacted legislation that exempts 80% of the appraised value of a "solar energy electric system" (also known as a photovoltaic, or PV, system) from property tax. For the purposes of this assessment, the term "solar energy electric system" means "all equipment used directly and exclusively for the conversion of solar energy to electricity." This incentive is effective for taxable years beginning on or after July 1, 2008.
A Memorandum sent to County Commissioners in February 2011 clarified that residential PV systems that are not used to generate income or in connection with a business may be entirely exempt from property taxes as non-business personal property. The Memorandum provides further guidance for determining if a system can be exempted as non-business personal property. System owners should review the Memorandum and consult their local property assessment office if they have questions.
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A solar PV system is custom-designed for your home. Final solar system price may vary based on your location, monthly utility bill, government incentives and rebates, the condition of your home, and local installation prices. Solar PV system output and estimated savings are calculated based on several factors including product type, system production, geography, weather, shade, electricity use, full utilization of the 30% solar investment tax credit, and utility rate structures and rate increases. Savings on your total electricity costs are not guaranteed. Financing options and terms vary by location, and may not be available in all areas. Solar QC is neither the lender nor the project installer. Solar QC License# 1130591
