CHARLOTTE, N.C., April 16, 2018 /PRNewswire/ -- Duke Energy's
$62 million solar rebate program –
which will help North Carolina
customers with the upfront cost of installing solar panels on their
property – was approved this month by the North Carolina Utilities
Commission (NCUC).
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 on the rebate program.
Customers can start signing up for the program this summer. They
can keep up with the latest developments here.
"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, Duke Energy has more than
6,000 customers who have 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.
"Duke Energy's North Carolina
customers have never had a better opportunity to take control of
their energy future with solar than with this rebate program. We're
eager to work with those customers to take advantage of the
incentive," said Jay Radcliffe, CEO
of Renu Energy Solutions of Charlotte. "The federal tax credit is still in
place. In nearly a decade of installing solar, now is the best time
I've seen for customers to save."
Rebate Details
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.
"We structured our program to give customers as much flexibility
as possible to pursue renewable options," added Fountain. "Of
course, customers have to determine if solar energy fits their
needs."
Earlier this year, Duke Energy announced two other solar
programs as a result of the law. The programs are awaiting approval
from the NCUC.
- Shared Solar – Will allow customers to subscribe to the
output of a nearby solar facility and provides an alternative for
customers who do not want, or can't have, a solar array on their
property.
- Green Source Advantage – Will allow large customers to
secure solar power to offset the amount of power purchased from
Duke Energy. This is an expanded version of a pilot program Duke
Energy Carolinas provided.
Duke Energy
Headquartered in Charlotte,
N.C., Duke Energy is one of the largest energy holding
companies in the United States.
Its Electric Utilities and Infrastructure business unit serves
approximately 7.5 million customers located in six states in the
Southeast and Midwest. The company's Gas Utilities and
Infrastructure business unit distributes natural gas to
approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business
unit operates a growing renewable energy portfolio across
the United States.
Duke Energy is a Fortune 125 company traded on the New York
Stock Exchange under the symbol DUK. More information about the
company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for
journalists and features news releases, helpful links, photos and
videos. Hosted by Duke Energy, illumination is an online
destination for stories about people, innovations, and community
and environmental topics. It also offers glimpses into the past and
insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and
Facebook.
Contact: Randy Wheeless
Office: 704.382.8379 | 24-Hour: 800.559.3853
Randy.wheeless@duke-energy.com
Twitter - @DE_RandyW
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SOURCE Duke Energy