by Dr. Roy Cordato
Senior Economist, Emeritas
According to NC DENR (footnote 6) in their latest report on North Carolina’s renewable portfolio standard.
Investors are allowed to claim a maximum of 20% of the ITC each year and are eligible to take the ITC during the first ten years after the project. ITC claims are expected to rise through 2015. Through 2012, solar accounted for about four fifths of all renewable energy investments. Renewable energy developers typically…partner with “tax equity investors,” which are typically large investment banks or insurance companies that have high taxable income from other business activities that allow them to claim the full tax benefits.
Shouldn’t NC taxpayers know who these large investment banks and insurance companies are and who their campaign contributions are going to?