North Carolina can learn a couple of important solar energy lessons from our northern neighbor.
Virginia, which already allows third-party financing and power purchase agreements on renewable energy projects like solar panels, is moving to make nonprofits like churches and schools eligible for solar tax credits as well.
“The beauty of the third-party solar contract is that the third party is not only installing the panels, they are usually helping to finance it too,” said Bob Shippee, Sierra Club Virginia Chapter legislative chair. “This means the schools or governmental agencies do not have to go through the capital budgeting process and they start seeing savings on electricity from day one.”
Meanwhile, North Carolina still needs to update its law to clarify that this kind of third-party renewable energy project financing is not a violation of state public utility laws. Memo to legislators: don’t let us slide further behind our friendly next-door rival state’s economic expansion efforts!