North Carolina is strongly committed to developing and growing a green energy economy. The state has a long history of protecting its natural and environmental resources. A large network of suppliers in the green economy coupled with strong legislative support, at the state and local levels, and available research assets creates an environment where green energy companies will receive the support and assistance to thrive.
We are home to an existing and potential green economy.
Existing
- More than 900 companies currently participate in the renewable energy supply chain
- In the inaugural year of the Green Business Fund, 85 applications were received requesting more than nearly $7 million in funding to support expansion into green markets
Natural Resources to Support Green Energy
- Home to more than 1,650 W of hydropower capacity and there are 93 additional sites with the potential to generate hydropower
- Wind potential is strongest 1 to 2 miles off the coast and in the sounds, but also strong in the mountains
- A photovoltaic system can get a yearly average of 5 to 6.4 hours per day of sun exposure depending on whether it is fixed or tracking the sun and can produce electricity about 19 percent of the year without any added fuel costs
- A leading producer of both hogs and poultry which provides large supplies of waste for biomass production
Policy/Legislative Support
- The first state in the southeastern U.S. to initiate a Renewable Portfolio Standard
- N.C. Wind Ordinance legislation to permit wind facilities. Clears the way for the development of wind farms off North Carolina's Outer Continental Shelf
- No city ordinances, county ordinances or deed restrictions, covenants and other similar agreements can prohibit nor have the effect of prohibiting the installation of energy devices that are based on the use of renewable resources
- Biodiesel produced by an individual for personal use in a private passenger vehicle is exempt from motor fuel excise tax