Under North Carolina’s Program to Finance Energy Improvement, local governments can create a revolving loan program to finance the purchase and installation of renewable energy projects affixed to residential, commercial, or other real property. The charged interest rate on loans may not exceed 8% per annum and the term of loans may not exceed 20 years. North Carolina’s definition of “renewable energy resources” includes various relevant technologies such as geothermal, solar thermal, and biomass.
