Cities in NC Deciding How to Get/Pay for Their Water Supply
Local officials in NC are working to meet an Aug. 1 deadline for a compromise between the county, Wilkesboro and North Wilkesboro governing bodies on how to proceed with a project that would make W. Kerr Scott Reservoir the county's primary water supply. The key issue is how to divide repayment of a $32 million, interest free loan from the state for the project.
NC County and City Hurricane Expenses Top $2M
Six months after Hurricane Matthew ravaged North Carolina, Bulloch County and the city of Statesboro have reported expenses of more than $2 million from the response and cleanup. Local officials expect the federal government to reimburse more than 80 percent of these expenses and the state a smaller portion.
NC Gives Out a Record $245M in Energy Tax Breaks in 2016
North Carolina residents and businesses claimed a record quarter-billion dollars in tax credits for installing and financing renewable energy projects last year. That amount may well never be matched because the state legislature let the renewable energy subsidy expire and it is no longer available. But because taxpayers can spread out the tax credit over five years, the claim amounts will not suddenly vanish next year.
NC Gave Out Record $245M in Energy Tax Credits: Who Benefitted?
The $245 million in tax credits claimed last year represent state income taxes that corporations and individuals were exempted from paying that year, and nearly doubles the renewable tax credits claimed the year before, $136.3 million.
$750K Establishes Small Business RLF in Disaster-Impacted NC
The Economic Development Administration (EDA) is awarding a $750,000 grant to Carolina Small Business Development Center Fund of Raleigh, to establish a Revolving Loan Fund (RLF) that will provide small business loans across a 14-county region that was impacted by Hurricane Matthew.
NC Restarts Effort to Freeze Clean Energy Mandate
North Carolina is making another effort at freezing the state's 12.5% by 2021 renewable energy standard, via a bill introduced by lawmaker Chris Millis. Arguing that the mandate that requires state utilities to purchase some of their energy from renewable sources is overly expensive, Millis said that the state has given US $1.6 billion in tax credits to renewable energy firms since 2010.
Jobs Incentives in Poorer NC Counties Focus of New Bill
A key North Carolina state senator wants to change how the state's primary economic incentives tool is used and promoted so that more benefits go to companies that promise to create jobs in the state's poorer regions. Senate Majority Leader Harry Brown of Jacksonville is an author of a bill approved Tuesday by the Senate Finance Committee that addresses the Job Development Investment Grant.
RLF Included in Project Funding for NC Solar Project
Canadian Solar Inc., one of the world's largest solar power companies, today announced that it has secured financing for its 92 MWp IS-42 solar power project near Fayetteville, North Carolina. The financing is in the form of a debt facility with Prudential Capital Group and a tax equity investment commitment from U.S. Bancorp Community Development Corporation (USBCDC).
Coastal NC Towns Brace for Beach Funding Cuts
Coastal North Carolina could be looking into a budgetary abyss if local and state entities don't adapt quickly to new funding realities.
Grid Modernization Steps Being Taken Across the US, NC Study Finds
A new report by the North Carolina Clean Energy Technology Center (NCCETC) found that 37 U.S. states plus the District of Columbia took some action related to grid modernization in the first quarter in an effort to make the electricity system more resilient and interactive.
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