A large number of families across North Carolina are preparing to have solar panels installed on their homes, in the wake of the new incentive programs that are aimed at increasing the usage of solar energy in the state.
Favorable changes to the state law are encouraging more people to put solar panels on their homes.
Duke’s Solar Rebate Brings Savings
Customers who have installed solar panels on their homes are reporting significant monthly savings, thanks to Duke Energy’s solar rebate program, which was launched this summer.
Over 1,500 customers had applied for these incentives to install home solar systems within the first few weeks of the launch of the program. The program is designed to bring costly solar systems within affordable reach of households and small businesses. It offers rebates of up to $6,000.
The energy that a customer does not use gets transferred back to Duke Energy as a future credit. Customers also benefit from a federal tax credit of 30 percent when the panels are installed. New legislation (House Bill 589) opens doors for strong incentives for rooftop solar in North Carolina, and makes it more affordable for the residents.
Overwhelming Customer Response to Solar
According to Duke Energy’s president for North Carolina, David Fountain, customers have enthusiastically welcomed their rebate program and are supporting the company’s efforts to promote renewable power in the state.
The program’s popularity has resulted in a waiting list for 2018 for both residential and non-residential sectors.
The program has a first come first served rule for applications, and Duke Energy is now requesting the NC Utilities Commission for permission to allow customer who already installed solar systems between January and July 2018 to have another opportunity in 2019 to apply for the rebates.
New Capacity Build-Up Expected
The new legislation called the “Competitive Energy Solutions for North Carolina” will enable Duke Energy to bring an influx of new solar capacity into the state over the next 5 years.
The incentive program, which was launched on July 9th for all customers of Duke Energy in North Carolina, is part of an ambitious 5-year program amounting to $62 million. The program will support customers in the state who wish to install solar panels on their homes or businesses.
Nearly 16 MW of new solar capacity has already been accepted for rebate, which comes to about $9 million. During this 5-year program, a total of 20 MW of new capacity per year is expected to be added. At the beginning of 2018, Duke Energy had nearly 5,000 customers using private solar in NC, with a capacity of approximately 50 MW.
Rebate Program Details
The solar rebate program offers residential customers with solar systems of up to 10 KW a rebate of 60 cents per watt. This means that a customer with a rooftop array of 8 KW would be eligible for a rebate of $4,800.
Systems with a capacity of 10KW or higher would be eligible for a maximum of $6,000 in rebates. The rebate for non-residential customers would be 50 cents per watt. Nonprofits get an enhanced rebate of 75 cents per watt.
And it does not matter if you are a Duke or a UNC fan, everyone is eligible in The Old North State!