cherrytree group llc logo

Cherrytree Group LLC Blog

RSS Grab the Cherrytree Group Real Estate Blog feed

Get e-mail notifications of new blog posts! Enter email address below.


Delivered by FeedBurner

 

North Carolina is a Hotbed for Renewable Energy

Tuesday, November 15, 2011
...by Warren Kirshenbaum

In a Hertford County field where rows of corn once grew, rows of solar panels now stand - 20,000 panels that will soon convert sunshine into enough electricity to power a small town.

When finished next month, Duke Energy Renewables' project on 37 acres will be one of the state's largest.

About 40 miles to the southeast, on a 100-acre field in Perquimans County, a Charlotte company plans to build another solar farm, this one consisting of 83,000 panels. It would stand out as the largest in North Carolina.

With the two solar farms and at least three major wind farms in development, northeastern North Carolina has become a hot bed for renewable energy.

The region has plenty of open land, and a sunny, breezy coastal climate. It also has a major power transmission line running through it with ties to the PJM Interconnection, the largest competitive wholesale electricity market in the world.

"Alternative energy is one of our main economic niches now," said Vann Rogerson, president of North Carolina's Northeast Commission, which recruits industry to the region. "The big players know where northeastern North Carolina is now."

Rogerson is working on additional renewable energy development projects with at least two other green-energy companies.

Much of the surge in green energy ventures stems from North Carolina's 2007 mandate requiring utility companies to produce 12.5% of their power from renewable resources by 2021, said Julie Robinson, spokeswoman for the North Carolina Sustainable Energy Association. Utilities are actually ahead of schedule, especially in the solar field, she said.

"Solar energy in North Carolina has grown dramatically over the last few years," she said.

The more capacity in megawatts that a green project has, the closer that utilities get to reaching the state mandate, and the bigger the reputation gets within the industry.

Duke Energy Renewable's Murfreesboro Solar Project is expected to carry a 6.4 megawatt capacity and be able to power 700 homes. The North Carolina Electric Membership Corp. will buy the electricity.

The Perquimans project, built by Solar Green Development of Charlotte, plans to have a capacity of 20 megawatts, enough to provide electricity to nearly 3,000 homes - more than half of all the households in the county. It is expected to connect to Dominion Power.

The solar projects would complement the wind farms that have found their way to the region.

Iberdrola Renewables plans to build a wind farm with 150 turbines on 20,000 acres. In Camden County, Invenergy is seeking permits to erect 100 turbines on thousands of acres of open farmland. Together, the projects could power about 100,000 homes. Each wind farm is projected to involve a $600 million investment and would be among the largest in the nation.

Down in Beaufort County, Invenergy has announced plans to build a wind farm valued at $160 million that would power about 15,000 homes.

The northeastern corner of the state has plenty of inexpensive, open land, a sparse population, and officials who are receptive. The proximity of the major transmission line is also a big draw.

"When that wind is really blowing, then there is a lot of power coming out of those turbines, and you need a place to send it," Ellis said.

The Perquimans County solar farm will have a capital investment of $85 million.

Given that kind of investment, tax breaks are a major motivator. Among other state and federal tax breaks, North Carolina allows local governments to collect 20% of the property tax value from land on which renewable-energy projects are built.

"Twenty percent of $85 million is a good-sized tax boost," said Bobby Darden, Perquimans County manager.

Original article – Hamptonroads.com


Recent Posts


Tags

business solar investment tax credit tax incentives and credits private equity, MA real estate development distressed asset investment EPA brownfields grant money equity investments Massachusetts BTC, Boston historic property preservation, Boston biomass power community block grants wind energy tax credit rehabilitating historic buildings, Boston financing multi-family housing, MA tax credits for development federal energy regulatory commission investment tax credits film tax credit, Boston federal low income housing tax credit tax credit sydication commercial real estate lawyer MA Brownfields tax credt real estate, Boston capped landfills deduction for energy efficient buildings Brownfields tax credt, Boston cherrytree group llc private equity offerings venture development capital MA selling tax credits for cash REITs, Boston citizens housing and planning association traditional funding green energy projects renewable energy credit federal and state tax credits renewable energy, MA distressed asset investment fund capital wind farm development negative environmental effect solar energy array projects sale of a tax credit restoration projects brownfields laws tax credits to fix up historic buildings Housing Development Incentive Program historic tax credits, Boston 1603 Grant real estate projects american recovery and reinvestment act how REITs works EB-5 Green Card Program Boston Marathon polluted sites tax credit, New Bedford renewable energy expensive to produce brownfields tax credit, MA Seattle brownfields tax incentives, Boston new market credits Martha's Vineyard building improvements large capital projects Chapter 40B vote results renewable energy tax credits, MA Summertime Economy in Boston business wind energy credit LIHTCs Massachusetts tax credits raising capital, MA tax-excempt bonds CHAPA tax credits to help economy BP Gas station owners real estate lawyer, MA commercial real estate investment real estate investment trusts, Boston Massachusetts Contingency Plan declining property values tax relief REIT industry historic preservation tax credits, Boston tax credit syndication solar energy properties workforce development rehabilitation brownfields tax credit real estate investment, Boston solarize Massachusetts residential properties new markets tax credits EB-5 Regional centers new housing developments non-bank resources for capital funding commercial real estate investments historic preservation tax incentives, Boston monetizing your tax credits Quincy Broad Medows Salt Marsh qualified energy conservation bonds market rate housing tax credit, MA solar power project development renewable energy economic development bill, MA solar power alternative funding sources Brownfields credits sustainable technology commercial real estate loaning money to consumers ITCs, MA laws of Brownfields film tax credits, MA debt-service state tax credits, MA devastating environmental damage Massachusetts historic rehabilitation tax credit residential real estate distressed asset investment fund, ma Housing Development Incentive Program, MA alternate funding brownfields redevelopment, MA solar power initiative tax deductions wholesale energy Massachusetts state tax credits commercial buildings commercial tax credits development of the renewable energy industry real estate properties renewable energy, Boston wind power, Boston tax credit investments solar power development construction jobs state and federal tax credits, Boston state tax credits Fim Tax Credits borrow money American Recovery and Reinvestment Act of 2009 - Section 1603 capital requirements monstrous oil spill thayer morgan production tax credit, Boston historic rehabilitation tax credit BTC, Boston list of brownfields sites Transactional Law Group federal tax credits finance PTC tax credit programs, New Bedford small business loans San Jose sources of funding brownfields, CT private equity offerings, ma commercial tax credits, MA clean technology renewable energy tax credits, Boston commercial leases Brownfields tax credt, MA film tax credit money, MA Historic credits, RI movie tax credit Brownfields Act, economically distressed areas, Massachusetts Brownfields Tax Credits, Massachusetts Contingency Plan, MGL Ch 21E, RAO, remedy operation status, renewable energy, sale of tax credits, tax advantaged development, tax credit syndication, tra private sector investments commercial tax credit small residential properties private sector investment wind engery tax credit, MA Housing Development Incentive Program, Quincy HUD insured mortgages tax credit consultant boycotting BP gas stations ITCs offshore wind film tax credit real estate deals wind energy tax credit, Boston wind tax credits, Boston multi-family apartments rownfields Act economy equity requirements invest in development projects tax advantages solar capacity brownfields projects, MA BP oil spill brownfields redevelopment, CT solar energy credits multitude of renewable resources real estate business asset foreign investors wind production tax credit tax credits for environmental clean up, Boston fuel cells 1603 Treasury Grant renewable energy funding brownfields tax credit, CT urban redevelpment Plymouth, MA solar system solar ITC destructive oil spill renewable engery credit, MA federal tax Credit renewable energy projects non-renewable energy sources gasoline market manipulation community development financial institutions commercial real estate in MA trash facility cleantech capitals brownfields, MA renewable energy development tax credits for gateway cities, New Bedford the difference between tax credits and tax deductions RECs, MA brownfields tax credits renewable energy industry energy tax credits outsourcing hydro energy production marine and hydrokinetic, solar brownfields tax credit, Boston Brownfields tax credt build a wind farm capital line funding commercial tax credits, Lowell LIHTC renewable energy tax credit, Boston downturn Brownfields tax credit program, Boston Cape Cod portability of tax credits converting tax credits to cash, MA rehabilitate properties buy commercial real estate, MA investments economic slump invest brownfield redevelopment, CT landfill gas facility Cape Wind San Francisco private investments expiring tax credits engery tax credit, MA Brownfields sites, MA tax credits on brownsfields capitalism energy efficient tax deductions Brownfields tax credt program, Boston converting tax credits to cash distressed asset sales renewable energy tax credits motion picture tax credits brownfields Credits, MA production tax credit banking sydicator of tax credits Federal Historic Rehabilitation Tax Credit largest accidental marine oil spill commercial tax credit attorney solar projects renewable energy grants private equity offerings engery credit, MA obtaining capital historic rehabilitation credits Historic rehabilitation tax credits, MA foreign investment real estate attorney, ma historic preservation tax credit heat and power multi-family construction value-added services low income housing tax credits tax credits commercial real estate attorney massachusetts BTC program, Boston renewable energy program capital raising questions, MA capital finance new markets tax credit program solar installations wind Brownfields program, Boston BTC, Massachusetts preservation of historic buildings construction energy efficiency improvement projects venture capital depressed and booming markets historic preservation tax credit, Boston rural energy for america program thayer morgan interivew new normal credit line funding The Cherrytree Group new markets new york pops biodiesel investing in apartments, MA energy production financial incentives to develop real estate in MA new market tax credit commercial tax credts, Boston historic rehabilitation, Boston real estate developing real estate in MA solar energy markets tax credits speaker series biomass facilities investment tax credit REIT state historic tax credits Chapter 40B explained investments in solar energy real estate attorney sale of renewable energy credits financing solar installations historic and low income housing REITS income tax credit PTC, Boston private equity Chicago solar initiatives money lending Massachusetts Ballot Questions, Question 2 Explained BTC program, Boston SREC disaster relief, Boston solar pilot program renewable energy credits, MA wind subsidies solar renewable energy credits tenant representative renewable tax credits, Boston gasoline price fixing market rate program, MA energy companies NMTC Brownfields programs 40B credited with spurring upwards of 80% new development Former Getty owners Massachusetts brownfields tax credits, Boston expensive to produce MGL Ch 21E wind farm tax credit federal government fuel cell initiatives investment tax credits, MA visas for imigrants LSPA, Boston MA business investment tax advantaged development brownfields redevelopment QECBs tax credits, RI solar energy build green real estate investments Historic credits investment tax credtis, Boston energy efficient property economically distressed areas Austin economics of environmental projects tax credits, MA film tax credit incentives Brownfields tax credit, Massachusetts solar energy production tax credit programs microturbines news independent gas station owners credits extending Brownfields tax credit, Boston solar energy development commercial tax credits, New Bedford Commercial Real Estate Loan Amortization Periods green standards methods of renewable energy production wind incentive Brownfields sites renovation projects historic building tax credit, New Bedford small business Massachusetts brownfields tax credit renewable energy tax credit geothermal equity NYC tax credits invest in real estate investing in commercial real estate, Boston commercial new markets investments brownfields projects, Boston tax credt tax credits for wind power, Boston renewable energy tax credtis, Boston massachusetts non-profit federal new market tax credits new energy technologies green energy capital funding wind tax credit brownfield cleanup program transfer of tax credits Kirshenbaum Real Estate business capital cleantech cities low-income housing tax credits distressed asset investing global energy demand production tax credtis, Boston low-income neighborhoods wind power RECs extension of BTC, Boston investing in apartment projects, MA RAO Gulf Coast victimized power generation, Boston real estate strategy business loans power generation, MA Historic tax credits, MA commercial tax credit program, MA The Transactional Law Group - MA Massachusetts Brownfields tax credit, Boston historic rehabilitation tax incentives, Boston new market program affordable housing Massachusetts film tax credit Kirshenbaum Law, Cherry Tree, LLC, Real Estate, MA more control over financing costs energy tax credit wind power technology contractors, Boston, MA infrastructure investment renewable energy jobs Massachusetts tax credit program solar investment tax credit Massachusetts commercial energy tax deductions Massachusetts Brownfields Tax Credits Commonwealth Solar Rebate Program monetize a renewable energy tax credit, Boston federal investment tax credit community rehabilitation cost of producing renewable energy brownfields tax credits, Boston renewable energy certificates disaster recovery assisstance, Boston REIT investments examine tax credits renewable energy tax break solar investment tax investing in parking lots LIHTC tax credits renewable energy facility real estate investment trusts Historic tax credits, RI historic remediation, MA real estate lawyer energy systems investment into business historic rehabilitation tax credit, Boston Louisianna hydro electric power commercial building tax deductions Rhode Island commercial tax credits, Boston buy real estate, MA investing in surface lots REAL program distressed assets RI FERC Brownfields Tax Credits, MA renewable energy credits invest in commercial real estate sale of tax credits Warren Kirshenbaum making money with commercial real estate tax incentives gas station loss of income informational technology economic growth selling tax credits Business Financing credit for income producing properties Historic Preservation Investment Tax Credit oil spill investment objectives solar farms office space Fim Tax Credit revenue NIMBY not in my back yard Broad Medows Salt Marsh preservation of mills ITC, Boston historic tax credit Historic tax credits environmental projects new market tax credits solar facilities permitting procedure New Markets Tax Credit, Boston weak economy tax planning strategies investing in real estate in MA wholesale acquisitions commercial tax credits, Fall River foreign capital developing real estate, MA remedy operation status secure capital geothermal power investing in commercial real estate Tax Credit private equity' midterm elections community development state film tax credits, MA what is Brownfields tax credit, Boston tax credit to spur redevelopment Brownfields Act, MA hedging transactions EB-5 environmental remediation film credits, MA environmental remediation tax credits partial equity participation deepwater horizon oil spill tax incentive deals wind energy credits tax breaks american symphony orchestra brownfields clean energy asset stripping Massachusetts gas station owners renewable energy incentives tax credit broker historic rehabilitation tax credits, Boston visas for buying homes historic rehabilitation SRECs develop renewable energy systems commercial properties monetization of ITC, Boston renewable resources investing in surface parking lots recession new market Quincy, MA commercial real estate owners development in Massachusetts investors in renewable energy tax credits, Boston tax deductions cleantech Boston Historic rehabilitation tax credits free up capital developers, Boston, MA community development entity rehabilitation of historic buildings, Boston tax advantages, Boston hydro power borrowing by small businesses Massachusetts brownfields tax credits, MA

Archive

Disclaimer

This Blog is made available by the lawyer publisher for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and the Blog publisher. The Blog should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.