Business booms for local solar energy company despite ‘One Big Beautiful Bill’

RALEIGH, N.C. — Solar is the fastest growing source of electricity in the U.S.

Data from the Solar Energy Industries Association shows the country generated over 750,000 gigawatt-hours of electricity from solar and wind last year. That’s enough to power more than 70 million homes.

The industry is facing changes, however, from President Donald Trump’s new federal tax and spending policies. Some for the better, some for the worse.

Trump signed what he calls “The One Big Beautiful Bill Act” in July.

Part of that bill changed policies and placed restrictions on energy tax credits for the solar energy industry and its customers.

The Solar Energy Industries Association said the industry will no longer have access to an investment and production tax credit after 2027 under the new law.

These two credits are financial incentives to encourage clean energy investment and innovation.

It might be a shock to some, but Vice President and Director of Sales for N.C. Solar Now Jesse Solomon said he’s witnessed funding cuts before. 

“We’ve seen a lot of turbulence over the past 15 years, and we’ve always been able to adapt. Right?” Solomon said. “We’ve lost the state tax credit in 2015, and then we’ve lost some of our metering subsidies as well. But we’ve always been able to overcome that adversity up to this point.”

The residential clean energy credit is also at risk and will be cut at the end of the year.

This non-refundable tax incentive is for homeowners who installed systems, such as solar panels, batteries and geothermal heat pumps.

The association said this credit allows homeowners to deduct 30% of the system’s cost from their taxes.

But Solomon said with North Carolina’s population growth and the demand for power increasing, the solar industry will continue to boom.

“You know, there are data centers that are going to be built here over the next five years, and we’re in a perfect situation to provide functional power and reliable energy to the grid as well as the centers,” Solomon said.

Solomon said one thing is for sure — solar energy isn’t going anywhere.

“I think because the price of power just continues to rise, and as it does, you know, our business allows people to hedge themselves against that power price increase each year,” he explained. “So, we’ll continue to see demand.”

Solomon said N.C. Solar Now is a small, privately owned business with about 100 employees.

He says they are “working hard to minimize any layoffs and are cautiously optimistic.”