Update on Programs

 

North Carolina's Energy Futures - Business Committee on Energy

North Carolina put itself on the map last year when it passed Senate Bill 3, the "renewable energy and energy efficiency portfolio standard," the first of its kind in the southeastern United States.  Senate Bill 3 created a significant market for renewable energy and energy efficiency companies but, as an increasing number of states seek to position themselves as leaders in the new energy economy, more work remains to be done to signal to these companies that North Carolina wants their business and will work with them to flourish here.

According to IEI’s survey of new energy economy companies, they are mostly firms under 10 people, with specific needs in the areas of siting and permitting, financial incentives and recruitment and workforce.  These firms are highly mobile and while they are interested in North Carolina because of SB 3, we must meet their range of needs to convince them to put roots here.   We must also continue to create markets for their products here, where even more established North Carolina companies are finding that their primary business is to export their products until the market matures in North Carolina.

The work of IEI’s Business Committee on Energy revealed a clear need for North Carolina to reconsider how its institutions are organized to meet the energy challenges and opportunities ahead.  Companies consistently cite the lack of clarity about the state’s energy policy priorities as a barrier to doing business here.  The state must rework its institutional arrangement to offer a coherent voice and strategy for energy policy, including the appointment of an executive level energy official in the Governor’s office, reform of the existing Energy Policy Council and redesign and relocation of the State Energy Office.  Then, the state could more effectively consider how economic development incentives, renewable energy tax credits, small business assistance, and workforce education can meet companies’ needs. 

These recommendations are essential for North Carolina to emerge as a leader in energy efficiency, renewable energy and green technology.  We are on the cusp of a major industry sector for North Carolina’s future growth.

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