Greenville Journal
The S.C. Senate passed the Renewable Energy Economic Development Bill with a 38 – 4 vote last week. The bill aims to attract investments to S.C.’s solar industry by making it easier to develop solar farms and other renewable energy developments, thus spurring economic development and more jobs in the renewable energy industry. Read: good for the local job market and Ozone.
If approved, the bill will create new property tax exemptions for the solar power industry – exempting 80% of fair market value of renewable energy resources and property value for residential use.
While only $10M was invested in solar power in S.C. in 2015 (versus $311M in Ga. and $1.69B in N.C.), it’s estimated that $1.4B could be invested over the next few years if the bill is passed.
10 solar energy projects are already in the works in the Upstate, including a $1.7M project at Furman and Glen Raven Inc.’s $2M farm in Anderson county. Good on ya’, Greenville.
