Duke Energy Solar Panel Rebates
Duke Energy offers rebates to North Carolina customers who want to install a solar panel system. For homeowners, the program offers a $0.40/Watt rebate for systems up to 10 kilowatts. An average 8 kilowatt system would be eligible for a rebate of $3,200. There are also rebates available for nonresidential customers, worth $0.30/Watt up to $30,000, and for nonprofit customers, worth $0.75/Watt up to $75,000. Duke Energy has run out of available funds for rebates in the first half 2022. Solar customers can join a waitlist for the rebate.
North Carolina Solar Incentives And Rebates
Warm and sunny North Carolina is well on its way to energy independence, making large strides to achieve clean, renewable energy reliance throughout the state. As of 2022, North Carolina ranks fourth for total solar energy use in the U.S., with enough solar installed to power over one million homes.
If you live in North Carolina, there are plenty of rebates and incentives to take advantage of when investing in a solar photovoltaic system.
Federal incentives, such as the solar tax credit, are still available for any state in the U.S., but there are also many state- and city-level rebates and incentives that North Carolinians can enjoy when going solar.
Here are the solar incentives available for North Carolina dwellers.
North Carolina Solar Incentives Tax Credits And Rebates
In this article: Tax Credits and Rebates | Net Metering | Federal Solar Tax Credit | Bottom Line | FAQs
Going solar is expensive. Based on our research of the best solar companies in the United States, it costs an average of $11,348 to $15,352 to install a solar panel system in North Carolina. Fortunately, there are several tax incentives to reduce costs and maximize savings.
In this guide, we at the Home Media reviews team cover federal and state solar incentives available to residents of the Tar Heel State.
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Nc Greenpower Production Incentive
This is a performance-based incentive that applies to PV systems larger than five kilowatts . Take a look at our solar potential calculator to estimate if your house can meet the requirement.
Residential homeowners can apply if they meet the power generation requirement. However, the incentive is mostly intended for larger establishments such as schools, nonprofits, and state government buildings, as well as commercial, industrial, institutional, and agricultural properties.
Solar energy generators have to be grid-tied and enter into power-purchase agreements with NC GreenPower .
% Federal Direct Pay Reimbursement
Historically, nonprofits & government organizations were not eligible for the 30% Solar Investment Tax Credit since nonprofits do not have tax liability. However, the recent signing of the Inflation Reduction Act expands the 30% incentive to include nonprofits and government organizations through a Direct Pay Reimbursement. This is huge news in the solar world, and opens up many more opportunities to expand solar across nonprofit roofs, especially when combined with other local incentives like the Duke Energy Solar Rebate!
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State Property Tax Exemptions In North Carolina
In North Carolina, homeowners can claim a property tax exemption for residential solar. However, the law only exempts 80% of the appraised value of a solar energy electric system from property tax, not the full added value of the installed system.
Still, this is great news for anyone looking to install residential solar in North Carolina who is worried about their property taxes skyrocketing as a result.
Piedmont Electric Member Corporation Renewable And Solar Energy Loan Program
: Utility company loan
Members of the Piedmont Electric Membership Corporation may be eligible for a renewable energy loan to finance the purchase of a residential solar energy system. The loan also extends to members upgrading their homes to improve overall energy efficiency.
Here are a few things the loan covers:
- Addition of an energy-efficient electric heat pump
- Additional insulation
- Solar water heaters
- Window and door replacement
Eligible members may qualify for a loan of up to $10,000 with a 7-year term at a 5% interest rate. Contact PEMCfor more information.
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Still Undecided About Nc Solar Don’t Miss Out On 2022 Incentives
We understand that making the switch to solar energy is a big deal. However, there are many questions that need to be answered, such as how much will it cost and does solar really work as well as fossil fuel energy?
We’re here to provide you with the answers that you seek. Our team has all data records from people who have made the swap over the years, and they are saving bigly on energy bills! In addition, we want you to be able to get in on the 2022 incentives and not miss out on any of the offered programs.
However, we don’t know how long the funds will remain, so it’s best to get started now, so you don’t forfeit these incredible tax rebates and programs.
Why Go Solar In North Carolina
The cost to go solar in North Carolina is slightly less than the national average. While the cost per watt is lower, it also costs less because North Carolina gets plenty of sun and therefore needs fewer solar panels to generate the same amount of energy as states with less sunshine. On average, North Carolina homeowners pay around $12,000 to $25,000 before any rebates or incentives.
Besides the Federal tax incentive, North Carolina offers a few rebates and local tax incentives that can make a solar system more financially available. But, the most significant discount is the Federal Solar Tax Credit.
Along with reducing your energy bills, solar is an excellent way to reduce your environmental impact. Plus, you can provide the electricity you dont use back to the power grid and get credit back from your utility company with net metering.
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Can Solar Panels Eliminate Your Entire Electricity Bill In North Carolina
Even if you install solar panels, you will still get a bill from your utility company every month. The solar power that panels produce can only be used to offset energy charges on your electricity bill. This means you still have to pay a minimum bill that consists of things like customer charges, basic facilities charges, and demand charges, if applicable.
However, solar will still reduce your electricity bill substantially and can get rid of all of your energy charges. So, if your utility bill was $150, and $14 of it consists of a basic facilities charge, that leaves you with $136 of energy charges that can be completely eliminated by solar. Sure, you would have to pay a total of $168 in facility charges over the year, but solar would be saving you over $1,600.
The actual savings you get from solar will vary depending on several factors, like how many solar panels you install, how much energy you use, and what rate plan youre on.
When Do You Apply For The Solar Rebate
The residential and commercial application period for the Duke Solar Rebate has closed for 2022 and program capacity has been reached.
There will be a final rebate allocation in January 2023 to award any remaining rebate funds* to projects with meters swapped after October 13, 2022. This rebate application period will open on January 11, 2023 at 9am. Applications must be submitted by 9am on January 18th, 2023.
*Total capacity available for the 2023 allotment will not be determined until Dec 2022, based kW still remaining in the nonprofit bucket.
Nonprofit applications will still be accepted from July 27, 2022 through December 31, 2022. To apply for the rebate, you will need an established solar project with an interconnection number. Your solar installer should be able to provide you the associated information for your rebate application.
Because the rebate cannot be guaranteed, Southern Energy Management will default to not including the rebate in your solar savings analysis. Were happy to educate and consult on the impact of the rebate, how to apply, and your likelihood of actually receiving the rebate if youre interested.
Regardless of the NC Solar Rebate, solar is still a great investment in North Carolina, especially with the renewal of the 30% Federal Investment Tax Credit for solar!
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North Carolina Solar Property Tax Exemption
When you install solar panels in your home, it increases your home value. You can thank the anticipated savings in costs of energy for that. So to further incentivize North Carolinians to install solar panels, the state decided to make 100% of the home value increase on your home property tax exempt.
How Many Homes In North Carolina Have Solar Panels
There are no good statistics to show how many North Carolina homes have solar panels. However, we do know that the state has enough solar panels to provide 80 MW of power, which is enough to power over 9,000 North Carolina homes. With the generous tax incentives and solars decreasing costs, the number of solar systems will only increase.
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Save With A Solar Incentive Program
Besides the benefits of lower electricity bills, property owners can save more by applying for federal, state and local tax rebates that offset the cost of solar panel installation. Depending on the location of the property, United States Department of Agriculture Rural Energy for America Program grants are also available. Local tax incentives vary by state, but North Carolina residents can benefit from one of the best solar panel rebates available.
Solar rebates are a relatively new offer for North Carolina residents. North Carolina solar incentives first started as a result of House Bill 589 in 2017. With this bill, clean energy advocates created a way to incentivize individuals to choosesolar in North Carolina. The bills purpose is to minimize switching costs by offering local rebates for individuals seeking affordable clean energy. Today, residents can apply for the NC Solar Program to get substantial rebates and NC solar tax credits.
Duke Energy Solar Rebate
If youre a Duke Energy customer who plans to install solar panels, you may qualify for the utility companys North Carolina Solar Rebate Program. The available funding for 2021 ran out very quickly, but you can join a waiting list for when the program reopens in 2022.
The incentive per kilowatt changes depending on the type of customer, but the program website lists the following rates as of November 2021:
- Residential customer: $400 per kW, maximum system size of 10 kW
- Non-residential customer: $300 per kW, maximum system size of 100 kW
- Nonprofit organization: $750 per kW, maximum system size of 100 kW
Keep in mind that incentive programs managed by energy companies tend to change frequently, and their funding per year is limited. If youre interested in the Duke Energy rebate, check the companys website regularly so you dont miss any updates.
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Going Solar In North Carolina
At ADT Solar, we are dedicated to providing first-class solar panel installations for North Carolina homeowners. If youre in need of solar panels in North Carolina, you can count on our highly skilled solar specialists to get the job done right the first time. With each solar installation by ADT Solar, you also receive:
- ADT Solars 25 Year Labor Warranty
- ADT Solars 25 Year Production Warranty
- 25 Year Solar Panel Manufacturer Warranty
- 25 Year Enphase Microinverter Warranty
- A FREE energy audit to ensure your house is as efficient as your new solar panels.
If youre living in North Carolina and are interested in solar panels, feel free to reach out to us and speak to one of our expert consultants. Were here to answer questions you may have about going solar and any of the incentives offered in North Carolina.
Solar Panel Rebates Through Duke Energy
Duke Energy offers a $0.40/Watt rebate for solar panel systems, up to 10 kilowatts . Consequently, a homeowner with a standard 8-kW system might receive up to $3200 in rebates. Nonresidential customers can apply for a rebate of $0.30/Watt, up to $30,000. Additionally, nonprofit customers might receive a rebate of $0.75/Watt, up to $75,000.
Reportedly, Duke Energy suspended this program after the first half of 2022, after running out of funds. However, property owners can ask to join a waitlist for future rebates. Your solar panel installer or Duke Energy representative can check on its availability for your property.
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What Is The Biggest Problem With Solar Energy
The biggest problem with solar energy is that it costs a lot up front.
You have to think about the cost before the tax credits. Though you are paying per watt, you still have to factor in installation and material costs. If youre looking at $12,700 before the tax credit, you still have to figure out labor and such as well.
There are solar panel financing options out there, you just need to find them.
City Of Asheville Building Permit Fee Rebates
The city of Asheville offers building permit rebates and plan reviews for green building certifications and select renewable energy technology . The rebate applies to residences as well as mixed-use commercial buildings .
Solar energy systems can receive a $50 rebate on their building permit fees and a $100 rebate for a Green Built North Carolina certification or HealthyBuilt Home Certification. The rebate goes into effect once regular fees are paid in full and the certification is instated.
Additionally, Asheville will rebate any plan review fees by 50% for buildings pursuing LEED certification.
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Nc Clean Energy Technology Center Community Solar Program
The NC Clean Energy Technology Center will work with electric cooperatives, municipal utilities, and their state associations to expand access to community solar programs to low and moderate-income households.The Center will partner with existing and planned community solar generators in NC with the end goal of contracting with 1-3 cooperatives and municipal utilities to provide funding to offset community solar subscription costs and begin providing direct monthly savings on utility bills for utility customers in late 2021.
The main objectives of the NC CETC community Solar program are to encourage outreach and education about community solar benefits and programs to LMI communities in utility service areas and to create a more simplified grant administration to participating utilities on the behalf of the State Enery Program.
Final Thoughts On State Solar Incentives In North Carolina
North Carolina gets above average sun and ranks 4th in the U.S. for installed solar capacity. The state currently has enough solar installed to power nearly one million homes, according to the Solar Energy Industries Association .
Times are changing for solar in North Carolina, though. Early progress looks set to slow as some incentives decline and disappear altogether. SEIA predicts the state will rank 18th in five years, slipping some 14 places as other states build solar capacity faster.
For homeowners in North Carolina, theres no time like the present to install solar. That way, you can sign up under existing net metering rules, claim the newly increased and extended federal solar investment tax credit, make use of that property tax exemption, and maybe even snag a building permit rebate, depending on where you live in North Carolina.
Leigh Matthews, BA Hons, H.Dip. NT
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History Of Solar Policy In North Carolina
The Tar Heel state is a true success story in the solar industry. While today the state is nationally recognized as one of the top solar markets in the nation, North Carolina had only around 1 megawatt of solar electric capacity installed as of 2007. Through 2018 SEIA reports that the state firmly ranks 2nd in the nation in solar capacity with a total of 5,261 MW. This remarkable turnaround can be accredited to a variety of crucial factors, but North Carolinas state level policies and regulations especially stand out for driving its growth.
The beginning of North Carolinas legislative involvement in solar and renewable energy can be traced back to 2003 with the creation of NC GreenPower. This non-profit organization was the first statewide green power program in the nation and was designed to encourage the use of renewable energy by providing production payments for energy generated by solar, wind, small hydro, and biomass. Payments for solar systems specifically retired in 2018.
Soon after, North Carolina took the next major step towards large-scale solar development when the state implemented its own net metering program in 2005. Throughout the U.S., net metering has been crucial for the solar energy industry by allowing residents to store net excess generation in the electric grid. For North Carolina, policymakers have maintained a strong program by compensating excess solar energy at the higher retail rate, rather than the wholesale or avoided cost rate.
Nc Financing Program For Renewable Energy And Energy Efficiency
In North Carolina, city and county governments are legally authorized to offer low-interest loans for solar PV systems in homes and businesses. The loan program also covers other renewable energy technologies like geothermal heat pumps, wind turbines and biomass power.
The maximum interest rate of these revolving loans is 8%, and the maximum term is 20 years. This gives you the option of installing a solar energy system with loaned capital, then using your electricity savings to pay it back over time. This means your out-of-pocket cost is reduced to zero, and your solar power system can cover its own cost with the savings achieved.
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