This article originally appeared in Inside Business - The Hampton Roads Business Journal, on April 20, 2015.
Weighing the pros and cons of various options during the property search and site selection process can be an intensive exercise. While many factors come into play, cost is often one of the most important. Real estate agents who are familiar with DSIRE (Database of State Incentives for Renewables and Efficiency) and the N.C. Clean Energy Technology Center can bring tangible value to the relationship with their clients by factoring in every possible incentive and benefit available.
In fact, according to a 2014 report titled, “Economic Impact Analysis of Clean Energy Development in North Carolina – 2014 update,” through direct state government appropriation, renewable energy projects received $122.6 million in tax credits and energy efficiency projects received $12.6 million (between 2007 and 2013). While the 2013 report, “Economic, Utility Portfolio, and Rate Impact of Clean Energy Development in North Carolina Final Report” says that for every $1 North Carolina invests in tax credits for renewable energy, state and local governments are seeing at least $1.93 return to support core functions of government like transportation, education, and public safety.
The N.C. Clean Energy Technology Center is a clearinghouse for solar and other renewable energy programs, information, research, technical assistance, and training. The center was created to help stabilize energy costs for consumers, stimulate local economies, reduce dependence on foreign fuels, and mitigate the environmental impacts associated with fossil fuels. Located at North Carolina State University, the Center also operates and funds DSIRE (with support from the Interstate Renewable Energy Council, Inc. and the U.S. Department of Energy). DSIRE is the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States.
During the property search process, real estate agents and developers can use DSIRE to identify all of the incentives that could potentially be applicable to their project. Some of the available incentives listed on DSIRE include:
Learn about additional business incentives and information about conducting your property search in Currituck County, NC – a growing region just 30 minutes south of bustling Hampton Roads, Va.