The North Carolina Utilities Commission (NCUC) has just approved a new $62 million solar rebate program – which will help North Carolina customers with the upfront cost of installing solar panels on their property.
The program is part of 2017’s Competitive Energy Solutions for North Carolina law – also known as House Bill 589 – which includes new Duke Energy programs to benefit customers. See the NCUC ruling.
“The Competitive Energy Solutions law for North Carolina will encourage solar ownership for customers while we pursue a balanced and affordable energy mix for all customers,” said David Fountain, Duke Energy’s North Carolina president. “It also allows Duke Energy to secure solar energy from independent facilities at a market rate – also a benefit for customers.”
North Carolina is second in the nation for overall solar capacity. Currently, in North Carolina, there are over 6,000 residents with private solar systems – with a total capacity of just over 50 megawatts. The program expects to increase North Carolina’s private solar market by 200 percent over the next five years, providing an economic boost for the state’s solar installation business as well.
Under the program, residential customers will be eligible for a rebate of 60 cents per watt for solar energy systems 10 kilowatts (kW) or less. For example, a typical rooftop array of 8 kW would be eligible for a $4,800 rebate. Installed systems 10 kW or greater would be eligible for a maximum rebate of $6,000.
Nonresidential customers would be eligible for 50 cents per watt. Nonprofit customers (such as churches and schools) would be eligible for an enhanced rebate of 75 cents per watt for systems 100 kW or less. Installed systems 100 kW or greater would be eligible for a maximum rebate of $50,000 for nonresidential customers, or $75,000 for nonprofit customers.
Customers will also have a solar leasing option. Instead of owning the system, customers can lease solar panels from another company. Much like leasing a car, a third-party leasing agency owns the system while the customer has a contract to use the output of the solar panels.