Renewable Energy Equipment Manufacturer Incentive

July 14, 2021

Summary

In addition to North Carolina's 35% corporate tax credit for renewable energy installations, the state offers a corporate income tax credit to manufacturers of renewable-energy products and equipment. The credit is equal to 25% of the installation and equipment costs of construction, with no maximum limit. The entire credit may not be taken for the taxable year in which the costs are paid but must be taken in five equal installments beginning with the taxable year in which the costs are paid. However, the credit cannot exceed 50% of the taxpayer's tax liability in one year.