Asheville-based solar farm company Innovative Solar Systems is breaking all records in the state of North Carolina with 12 projects scheduled in 2014 that total over 800MW of solar PV power.
Asheville-based solar farm company Innovative Solar Systems (ISS) has scheduled 12 large-scale solar PV projects in North Carolina for 2014, totaling over 800MW of solar PV power.
Large investors and owner operators seem to like the large-size solar farms because of reduced installed costs and soft costs for each project. According to John Green, a managing partner for ISS, by developing the larger projects in the 50MW range, ISS has been able to cut installed costs to around $1.25 per watt, some of the lowest in the industry.
The tax incentives in North Carolina are better than ever and offer investors a 30% federal tax credit along with a 35% NC tax credit and accelerated depreciation. With the cost of equipment and labor being the lowest in history, the financial paybacks on these solar farm deals in the state are some of the most sought-after anywhere.
According to ISS, these large-scale projects are just a portion of what the company has planned in the state. Dozens of the firm’s other solar farm projects are still in the 2MW to 6.5MW size. That’s because small investors and owner-operators still love smaller projects for a variety of reasons.