Local solar company urges Duke Energy to support extension of renewable energy tax credit

Weaverville-based solar energy company Sundance Power Systems along with three other North Carolina rooftop solar providers has issued a public statement calling on Duke Energy to support an extension of the Renewable Energy Investment Tax Credit. The credit is set to expire at the end of this year. While the N.C. House does include a two-year extension for the credit in its budget proposal, the state senate does not. As reported in the Charlotte Business Journal, a Duke Energy spokesperson has previously said the company will neither publicly oppose or support an extension of the credit.

From Sundance Power Systems

Press release

Local solar energy company, Sundance Power Systems, along with three other NC rooftop solar providers, sent a letter to Duke Energy’s CEO Lynn Good earlier this week asking that they join in calling on the Legislature to include a two year extension of the Renewable Energy Investment Tax Credit in the budget.

“Our industry has worked hard to make solar affordable for more North Carolina residents and business owners, and we’ve been very successful. The tax credit has provided the financial footing needed for our young but capable industry to serve residential and commercial customers statewide. We have seen first-hand how the certainty provided by this policy translates to a strong business pipeline that keeps jobs and income in our communities, and builds a grid that is more distributed, resilient and clean. Small-scale solar is a key contributor to our state’s $4.8 billion solar industry,” they state.

With the slated sun-setting of the 35% state incentive, the small-scale solar industry has been adversely impacted by delays in the interconnection process as the Utility has been swamped with an overwhelming number of large projects. This threatens millions of dollars of lost revenue for the industry. “The extension of the tax credit would help level out demand for the rest of the year and allow the industry to phase out the tax credit over the next two years, during which time we can work collaboratively with Duke Energy to figure out how to make sure our grid continues to be affordable, reliable and increasingly clean,” the group says.

Within hours of the letter being sent, the Charlotte Business Journal ran an article with Duke’s response of “No.” Duke spokesman Randy Wheeless was quoted as saying “Our stance hasn’t changed. We know tax credits are a hot issue in Raleigh. We believe that the General Assembly is in the best position to settle this issue itself.”

“Duke’s political stance of ‘neutrality’ on this issue is a farce and represents an opposition to residential and commercial rooftop solar in North Carolina,” says Sundance’s Dave Hollister. “A failure to extend or phase out the credit will jeopardize the majority of small to midsized solar companies and take away this clean energy choice from businesses and residential customers. It will crush an industry that has provided thousands of jobs and significant economic growth in our state.”

The rooftop solar industry has joined together in a grassroots campaign to engage customers and the general public that support a thriving clean energy economy in our state. This is an opportunity for Duke to join forces and work together with the solar industry to foster continued growth of jobs, a cleaner energy mix, and a more sustainable future.

About Sundance Power Systems:
Sundance Power Systems has been an active leader in the renewable energy industry since its founding in 1995. Dave Hollister, President and CEO, has been advocating for strong clean energy policies at legislative and utility levels for years, having served on the board of the North Carolina Sustainable Energy Association and participating in Progress Energy’s Community Energy Action Advisory Council, among others.

For information, please visit www.sundancepower.com.