Financial Incentives

Commercial Financial Incentives

Green State Power offers custom financial pro-formas to all of it’s clients which demonstrate the expected financial returns expected from each solar system it installs.  Through a combination of State and Federal financial incentives and the savings or sale of electricity generated, solar power is an excellent long-term financial investment with strong returns.

Investing in solar energy not only demonstrates a commitment to sustainability to your customers and employees, but it also provides a new revenue source.  With rising energy costs, putting the power of the sun to work for you will protect your bottom line for years to come.

Federal Tax Credit – 30% of system cost (no limit)

NC State Tax Credit – 35% of system cost (no limit)

Depreciation – over 5 years


Residential Financial Incentives

Similar to commercial incentives, residential customer can claim both state and federal tax credits after investing in a solar system.

An average-size (6 kW) residential system might seem expensive at approximately $20,000, but with energy savings and 65% tax savings in the first year alone, the system cost is under $6,150 after year one.  With utility prices continuing to increase year after year, the entire system will pay for itself in approximately 8 years.  Unlike most home improvements, which depreciate in value with age, solar panels can increase in value over time as electricity prices increase, and increase the value of your home.  As electricity prices continue to rise, an energy efficient home and solar panels can increase a homes value.

NC State Tax Credit – 35% of system cost (up to $10,500 for personal system)

Federal Tax Credit – 30% of system cost


Property Tax Exemptions

For both Commercial and Residential systems, all solar installations are 80% exempt from property taxes.

NC Property Tax Abatement – 80% exemption on appraised value

Questions? Just Ask!