As summer ramps up on the east coast, people in North Carolina are lining up to get a chunk of the state’s $62 million solar rebate. Last month the North Carolina Utilities Commision approved Duke Energy’s rebate program, which is aimed at reducing the upfront costs of installing solar panels, shaving 40-50% off the cost of home solar installation when combined with the federal tax credit.
The North Carolina Solar Rebate Program is capped at 5,000 kW for home solar, or roughly the equivalent of 600 homes. Under the program, residential customers will be able to earn back $0.60 per watt, and nonresidential customers $0.50 per watt. The typical North Carolina home is expected to make between $3,000 to $5,000, with the maximum rebate amount capped at $6,000.
The North Carolina Utilities Commission decision to pass the rebate stems from House Bill 589, which passed last year in an effort to encourage more solar ownership. Upon success of the Duke Energy rebate last month, the company has filed two more renewable energy programs to expand renewable options for the 3.2 million customers it serves in the state.
“Our customers want more renewable energy options and both these programs will provide alternatives to on-site solar power,” said David Fountain, Duke Energy’s North Carolina president. “We look forward to working with our large customers as well as environmental organizations, municipalities and solar developers to bring these offerings to areas where they are most desired.”
North Carolina is second in the nation for solar capacity. Sign ups for the rebate program begin at the start of summer, Monday, July 9 2018.
To learn more how to qualify for a chunk of the change Duke Energy is offering solar homeowners in North Carolina before the program fills up, contact GoGreenSolar.com or call (888) 338-0183.