NC S236

Requires the North Carolina Utilities Commission to establish inverted tiered electricity rates for residential, commercial, and industrial customers, with higher rates for increased usage to encourage energy conservation and efficiency.

Exempts low-income renters earning less than 150% of federal poverty level from higher tiered rates and aims to achieve 40-60% statewide reduction in electricity consumption from 2017 levels within 10 years.

Creates the Energy Efficiency Bank to provide low-interest loans and grants to customers for energy efficiency and renewable energy projects, funded by pollution tax revenues, excess utility revenues, and loan interest.

Imposes a 5% privilege tax on retailers selling energy inefficient household products and a 5% excise tax on energy inefficient products sold outside the state but stored or used in North Carolina, effective January 1, 2018.

Directs tax revenues from energy inefficient products to the Energy Efficiency Bank Fund, with the Department of Revenue retaining up to $425,000 annually for administrative costs.