The township currently spends $15,000 – $18,000 per month on electricity for municipal operations. In an effort to cut energy costs and flatten the rising cost of electricity, Carrboro wants to develop the solar electricity project in partnership with investors who can realize the many attractive tax benefits now being offered for renewable energy projects and can cover 80% – 90% of the installed cost of a renewable energy system.

For more information on this development, see The Daily Tar Heel article HERE.

Here’s a quote from the post awaiting you:

With the strident partisanism in Washington (clean vs. dirty energy) and the international solar trade debate (China vs. America) in mind I believe President Carter’s words ring true today: “Energy will be the immediate test of our ability to unite as a nation, and it can also be the standard around which we rally. On the battle field of energy we can win for our nation a new confidence, and we can seize control again of our common destiny.”

The state maps showing the concentration of various renewables (too many to show here) also implicitly illuminate the nature of the political problem in the U.S., namely: the South doesn’t have much clean energy. Or rather, they have biomass, but that’s about it. (Good thing for policymakers to keep in mind: if you want the South on board, include biomass.)

The “gist” from Grist seems to be that the We in the Southeast need more electricity generated from solar and wind … and we need it fast!

NCSEA’s annual meeting and conference, Making Energy Work, highlighted many green energy victories for North Carolina in 2011:

• the renewable energy and energy efficiency sectors generated $3,100,000,000 in gross revenues for the year
• North Carolina is home to two of the Nation’s fastest growing Fortune 50 companies – both renewable energy businesses

• the clean energy sector is responsible for 14,800 “full time equivalent” jobs
• the clean energy sector grew by 18.4 percent
• clean energy firms have offices located in 87 of North Carolina’s 100 counties
• the state boasts 1,500 commercial and government energy efficient buildings – roughly 130 million square feet

Speakers and attendees widely noted that far more benefits from this economic sector exist via improvements to the State’s Renewable Energy Portfolio Standard and state level energy efficiency programs for the homes and businesses of North Carolina’s 9 million plus citizenry.

For more information, read NCSEA’s 2011 Renewable Energy and Energy Efficiency Industries Census HERE.

Daniel Yergin, one of the world’s most celebrated energy thinkers, discusses the future of global energy and his new book on the subject, The Quest, with the Folks at NPR’s Planet Money.

Listen to the podcast below.

For folks considering a renewable energy project and believe there is some possibility for commencing it before the end of the year, the following information will be of interest. This information is intended solely as a primer. More detailed information and consultation with the appropriate professionals should be secured before taking any action. Please contact us for more information.

Projects Completed after the Sunset of the US Treasury’s 1603 Grant on December 31st, 2011

First, the bad news: The 1603 grant, which provides a grant in lieu of a tax rebate for 30% of the installed cost of a renewable energy system, ends December 31st, 2011. From all that we can glean, this grant option, which was extended for one year last December buried deep in the “Bush Tax Cut” extension, will not be given another such reprieve. And now for the good news: There is a “safe harbor” rule within the grant extending eligibility to those entities with renewable projects in flight when more than 5% of the total cost of the property has been paid or incurred or significant work towards project completion has been accomplished.

The significance of the grant is that it makes it much easier for community-owned renewable energy projects to realize the benefit of incentives. Without it, those wishing to invest in a renewable energy project and enjoy the full benefit of incentives must have a high marginal tax bracket and passive income against which the credits would apply. Time is of the essence if you are interested in pursuing this grant (in lieu of the tax rebate), but you expect that your project could not be physically completed until after the grant’s sunset on December 31st of 2011. If your project finance will be coming from higher tax bracket passive income individuals, this is of little consequence.

More Information

• AIRE’s Executive Summary Concerning the Sunset of the US Treasury’s 1603 Grant
• The 5% Safe Harbor checklist from the US Treasury
• US Treasury 1063 Grant page (w/ info on 5% safe harbor ruling):

Top 5 Reasons to Attend NCSEA’s Making Energy
Work Conference Wednesday, November 9th

5. Celebrate NC’s Clean Energy Economy

4. Gain CEOs’ Insight on Clean Energy’s Future

3. Get the Scoop on the 2011 Industries Census

2. Hear Latest on the Duke-Progress Merger

1. Network and Build Relationships

This has been an eventful year for NC’s rapidly-growing clean energy economy – and it’s time to celebrate our recent success and innovations and plan for further growth! Join NCSEA at this year’s “Making Energy Work” Annual Conference & Membership Meeting, which will be held at the Raleigh Convention Center on Wednesday, November 9.

Register for the “Making Energy Work” Conference HERE.