I'm a Solar Tech here at
Sunward in Vermont. Here's a little additional information about the North Carolina Tax Credits for Solar Hot Water:
- The rebate or credit is avaiable under the program name Renewable Energy Tax Credit
- The maximum amount available under this state incentive is 35% of cost up to $3,500 (North Carolina is one of the most generous states for tax credits for Solar Hot Water)
- The Sunward System qualifies for this credit/rebate
- You are
not required to obtain preapproval for this credit/rebate
- You are
not required to have a specialized installer for this credit/rebate
- You must fill out an application to receive your credit/rebate
- The allowable credit may not exceed 50% of a your state tax liability for the year, reduced by the sum of all other state tax credits. Single-family homeowners who purchase and install a qualifying renewable-energy system must take the maximum credit amount allowable for the tax year in which the system is installed. If the credit is not used entirely during the first year, the remaining amount may be carried over for the next five years.
Here's a link to the instructions from the NC Tax dept :
http://www.dor.state.nc.us/downloads/nc478g_instructions.pdf
Sunward is part of a family of companies that includes
DR Power -- the system is assembled in the same facility in Vermont as many of the DR products, and is sold and supported by the same folks.
By all means you should evaluate local options. (We have installers we work with in NC that could fully install the system for you as well. Call us and we'll make the arrangements.) If you do compare systems based solely on price, we'll only hope you'll make an apple-to-apples comparison based on the many unique features our system offers (such as a PV powered pump), our industry leading warranty, as well as our 25 year track record of building and supporting high-quality, long-lasting products.
But even if you select another system, please DO invest in Solar Hot Water. The payback is 4-5 times faster than any other other renewal system you could install, and with the generous tax credits now in effect it really is a financial no-brainer.
One final word of advice: don't hesitate too long, as the state programs have a history of running out of money. So far this year Virginia, Mass, and Vermont have all had to suspend taking new applications for their state tax credits because the funding allocations became over committed.