How Much Can I Reduce My Duke Energy Florida Bill By Switching To A Different Rate Plan
For some people, the savings from switching rate plans may only be a few dollars per month, but for many it canbe $20-$100 per month. That’s between $240 and $1,200 that you may now be paying to Duke Energy Florida eachyear for no reason.
Finding out what’s available to you is as simple as a phone call or email to Duke Energy Florida. Even a smallsavings can be worth it.
How Big Is A 4kw Solar System
Lets start with the obvious question: how big is a 4kW solar system? Well, lets look at a few different ways to measure a solar systems size.
What does 4kW actually mean?
In the solar industry, we talk a lot about kW or kilowatts, but what does it really mean? And how much is 4kW?
Kilowatts simply measures how much electricity something produces or consumes in one moment. You probably dont think about it, but youre already familiar with kilowatts. All your light bulbs are rated in watts .
Walk around and look at the top of your bulbs. If theyre LEDs, they probably say something like 9 watts or 9W. If theyre incandescent bulbs, they probably say something like 40W or 60W. This is how much electricity they need to turn on and run. Your hair dryer probably needs around 1500 watts. Cell phones typically need around 50 watts to charge.
To measure how much electricity something consumes over time, we use kilowatt-hours. So if you left your phone charging all night, it would consume 400 watts-hours of electricity . If you left your LED light bulb on 24/7, youd use 6,480 watt-hours of electricity each month .
Solar installations are different, though. The gadgets above consume electricity. Your solar installation produces electricity. A 4kW installation produces 4kW of electricity . How many kilowatt-hours does a 4kW system produce? It all depends on your location.
How many solar panels is that?
How much space does that take on my roof?
Does Duke Energy Offer Other Solar Incentives
Duke Energy offers rebates to North Carolina customers who want to install a solar panel system. For homeowners, the program offers a $0.60/Watt rebate for systems up to 10 kilowatts. The benefit is equivalent to $3,600 for a 6 kilowatt system. Nonresidential customers also have access to rebates of $0.50/Watt to $0.75/Watt. In some states, Duke Energy also offers programs that enable its customers to support renewable energy in other ways:
- GoGreen Indiana gives customers the ability to support the development of green power sources such as solar and wind in Indiana by purchasing a minimum of two 100 kWh blocks of green power for $1.80/month.
- GoGreen Kentucky gives customers the opportunity support green power such as solar and wind by purchasing a minimum of two 100 kWh blocks of green power for $2/month.
- NC GreenPower is a nonprofit, statewide organization that gives North Carolina customers the ability to contribute $4/month to the organization which is split with $2 purchasing 50 kW of energy produced from green sources and $2 supporting the installation of solar demonstration projects at NC K-12 schools.
- GoGreen Ohio helps customers support green power such as solar and wind by purchasing a minimum of two 100 kWh blocks of green power for $2/month.
- South Carolina offers a Shared Solar Program for qualified customers, including those who live in multifamily housing or rent homes and all those who may not otherwise have access to solar energy.
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Who Is Eligible For A Duke Energy Solar Rebate
Duke Energy Solar Rebates are available for solar equipment installed in North Carolina. To qualify for them, you must own or have rights to the North Carolina home or business property where the equipment will be installed and used.
You must also be a current account holder and on a concurrent electric retail rate with Duke Energy. If you meet these and all of the additional requirements, you can apply for a chance to participate in the rebate program.
What Is The Average Cost Of A Home Solar System
Our average home solar panel system is priced between $18,000-$24,000 before any incentives are taken into account. The Federal Tax Credit for solar is currently set at 26%. This credit is available to anyone who pays Federal taxes and can be stretched out up to five years if necessary.
So if your cost was $22,000, subtract 26% and you would have a $16,280 solar system. All of our systems are custom designed, so the average price is really that, an average. The price of home solar can range from $10,000 $100,000 based on your roof, energy usage, goals, aesthetic preferences, battery storage, and budget.
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Follow Trends Affecting The Local Economy
Dukes plan will allow residential and small business customers to subscribe to blocks of solar power at $8.35 per kilowatt block. Those customers would draw a monthly credit based on their subscription size and the actual solar energy produced. The credit is expected to start at 4.037 cents per kilowatt-hour, going up 1.5 percent a year after 36 months.
Dukes approximately 1.8 million residential customers monthly pay an average of $126.63 per 1,000 kilowatt hours.
The solar program includes set-asides for low-income customers in government subsidy programs or the companys low-income energy efficiency program, and for local governments, according to the commission.
Duke, FPL and other utilities have looked in recent years to dramatically increase their use of solar energy, as facilities have become more cost-effective and amid pressures to reduce carbon emissions. As an example, the Public Service Commission in November approved a solar project in Polk County that will be the fourth phase of a plan by Tampa Electric Co. to add such facilities.
But Dukes Clean Energy Connection program and FPLs SolarTogether program differ from the others because of the way they are structured. Duke, like FPL, argues that the structure will lead to long-term savings for all customers because of reduced need for natural-gas plants and related costs, such as fuel.
– Jim Turner
How Much Energy Will A Solar Electric System Produce
Solar panel systems are measured in terms of kW. A common size solar panel array is usually around 5kW and takes up around 400 square feet of space. An array of this size can produce an average of 350-850 kWh of AC energy per month. To put that into perspective, a typical household uses about 897 kWh per month.
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Does Duke Energy Have Incentive For Solar
Our communities offer small-scale rebates tailored to customers interested in going solar, thereby providing them with the opportunity to lower their costs. Customers living in nonresidential settings may qualify for a rebate up to $30,000, while nonprofits can achieve up to $75,000 per kilowatt-hour.
Notable Solar Installations In North Carolina
With the advances made in free solar efficiency and the drop in the prices of solar panels down to $2.24 per Watt of solar power installed, many large-scale solar projects took place in North Carolina.
With breakthroughs in solar technology and solar manufacture, these trends can only go up, and larger solar projects take place, and existing solar farms are expanded. The UAE has announced solar power under three ¢/kWh, and multilayer solar cells close in on 50% solar efficiency. This means that in the future, there will be more solar and at a lower cost.
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How Much Energy Is This
Typically, a 3 to 4 kW solar panel system will produce enough energy for a family sized home, while a 2 to 3 kW will typically be the right size for a smaller household.
An average 4 kW solar panel system will generate around 3,400kWh of free electricity a year. Thats enough electricity to individually power:
- 4,857 hours of the washing machine
- 97,143 hours of the fridge
- 1,880 hours of boiling the kettle
- 1,417 hours of the oven
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Is A 4kw Solar System Worth It
With the average U.S. irradiance of 5.3kWh/m2/day , a 4kW solar system generates about 21.2kWh of energy per day, or 7738kWh/year.
This is quite a lot less than the average energy consumption for a U.S. home is 11000kWh/year. A 4Kw solar system may or may not meet a homes energy requirement, as it depends on the location and how much the home uses.
Whether such a system is worth it or not also depends on the electricity cost, which varies from state to state. The cost of the solar system must also be known, and this assest cost may be reduced by government or state solar incentives.
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Florida’s Insurance Requirement For Tier 2 Solar Systems
Many Floridians are quickly realizing the value of a solar home improvement. At a recent discussion workshop held by the Florida Public Services Commission in September of 2020, Duke Energy reported that they were interconnecting 1000+ new solar-powered residences per month. Floridians can attest that this data passes the eye test, as rooftop solar is increasingly visible in communities across the state .
However, despite this rapid growth of solar in the Sunshine State, the path to energy independence is clearer for some homeowners than others. Utility companies in Florida currently separate solar systems into tiers, determined by system size which is measured in Kilowatts . The exact terms of each utility company’s Interconnection Agreement may vary, though there are three tiers that are generally recognized throughout the state:
Tier 1: systems less than or equal to 10 kW *
Tier 2: systems larger than 10 kW up to 100 kW
Tier 3: systems larger 100kW
While many homeowners are able to cover their energy needs with a Tier 1 system, systems of 10kW and larger are an increasingly common solution for many homes.
Currently, for Tier 2 systems, utility companies in the state of Florida require proof a particular insurance policy – a Personal Liability Policy of at least $1 million.
The PLP provides an additional $1 million dollars of liability coverage to better protect the policyholderâs current assets and future earnings.
How Long Does A Typical Home Solar Install In Nc Take
The typical installation timeline for a residential install is 2-3 days on site, with the whole process from start to finish taking approximately 90 days.
About half of that time is taken for engineering and design, permitting with your local jurisdiction, the interconnection application with your utility, procuring material etc. Then after installation, an inspection is required and once passed, we all have to wait 20-30 days for your new bidirectional meter to be installed by the utility. Once your meter is installed, well come turn your system on, show you how it operates, and youll start saving!
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How Many Batteries Do I Need To Go Off
To go completely off-grid, you need as much solar power battery storage as can safely last you for the time between sunset and sunrise on a winter day. An average home in the USA uses around 909kWH of electricity per month. Also, an average North Carolina residential electric bill comes for some 1,098 kWh per month, so you should have some 30kWh of batteries installed to ensure you have enough even during the cloudy days in the winter. There are various factors to consider when thinking of battery storage set up to go off-grid, such as the orientation of your house, the appliances you have, hours of sunlight and your habits. The best thing to do is to contact a solar advisor and schedule a consultation with them. Comparing quotes is always a good idea with large purchases.
Solar Energy Production In North Carolina
Solar Energy Production in North Carolina has been experiencing an upward trend for years now. While the state offers solar incentives and tax advantages, the overwhelming majority of the solar growth in North Carolina comes from the reduction in prices that could be observed for many years. Back in 2010, the price of Solar Photovoltaic Panels was a little more than $7.34 per Watt DC of installed power. Some eight years later, the price has dropped to $2.70. These prices have been observed in home solar panel systems, but a similar drop can be seen in the Commercial photovoltaic systems and large-scale utility systems.
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Duke Solar Energy Rebate 2022
If you still need reasons to invest in solar energy for your home or business, look no further than your bank account. If your utility is Duke Energy or Duke Energy Progress, you could save money while helping to save the world. Yes Solar Solutions has a special deal for you to buy a solar lottery ticket for the Duke Energy Solar Rebate.
All Duke Energy customers who install solar panels are eligible for a healthy rebate! Heres the short version:
- Homeowners: Save 40-50% when you combine the Duke Energy solar rebateup to $4,000with the 26% federal tax credit.
- Businesses: Between rebates and tax credits, save more than 70%.
Here are some more details about how the program works:
|Home Solar Rebate Program|
|$3,000 to $4,000 for a typical home solar panel system||30¢ per watt$30,000 for a 100 kW solar system||75¢ per watt$75,000 for a 100 kW solar system|
|Cost Impact||40% off cost of solar When the rebate is combined with the 26% Federal Tax Credit for home solar.||50% off cost of solar When the rebate is combined with tax incentives for commercial solar.||30% off cost of solar Non-profits can’t use the existing tax incentives for solar so this a unique opportunity for non-profits.|
|5,000 kW capacity / average size of 7 kW||50 Businesses2,500 kW capacity / average size of 50 kW||50 Non-Profits2,500 kW capacity / average size of 50 kW|
Does Duke Energy Pay For Solar
Depending on the amount of kW produced by your home solar system, NEM allows you to offset your electric bill. Nevertheless, the Duke Energy Net Metering Rider works together with Duke Energys standard electric rate to provide benefits to customers under NEM. Learn more about Duke Energys net metered rider.
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How Much Can You Sell Power To The Grid For
selling electricity re selling electricity back to the grid? Due to the range of electricity prices that can vary, theres no set amount to take home as compensation. There are, however, many home producers who make approximately $3,000 per year if they take advantage of combined REC sales and government clean energy incentives.
How Duke Energy Net Metering Works
Solar net metering is a system that lets solar energy system owners manage the energy generated by their solar panels. It is an efficient and ecologically conscious way of managing the energy produced by a home that has solar panels installed for their electricity. Solar panels installed at home are usually set up to supply the needed electricity of the household. The system produces enough for the occupants to sustain the electricity consumption that they need on a typical day-to-day basis. However, there are times when the electricity produced by the system is not enough to supply the needs of the household. When this happens, the home draws electricity from the energy grid. The net metering program measures the amount taken from the energy grid and bills it to the household. There are also times during which the solar panel system produces more energy than the household uses. When this happens, the overproduced electricity is sent to the energy grid and the net metering system measures how much has been sent in order to give credits to the household for the amount of energy given to the grid.
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When Should I Apply
Duke Energy opens up applications for this rebate twice a year – in January and July. The enrollment period for January has already filled up for residential and commercial customers. There is however still availability for non-profit customers.
The second enrollment period will open onJuly 7th at 9am!This rebate has become extremely popular, so the time to begin preparing your application is now. Our solar consultants at 8MSolar can help guide you through the process to ensure you are completely ready when the enrollment period opens again. Getting your application in before the application deadline is vital to ensuring your chance at being chosen for the rebate.
Whos Duke Energy And How Many Customers Do They Have
Duke Energy Corporation is one of the largest electric companies in the U.S. Headquartered in Charlotte, N.C. Duke Energy provides electricity to approximately 7.6 million customers in Florida, Indiana, Kentucky, North Carolina, Ohio, and South Carolina. As well as natural gas to more than 1.6 million customers in the Carolinas, Ohio, Kentucky, and Tennessee.1
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