Duke Energy proposes $62 million solar rebate program for North Carolina
Duke Energy proposed on Monday a $62 million solar rebate program designed to help the company’s customers in North Carolina with the upfront cost of installing solar panels on their property.
The program is the first of three customer programs Duke Energy is proposing as part of the implementation of 2017’s Competitive Energy Solutions for North Carolina law, H.B. 589.
The Competitive Energy Solutions law for North Carolina will reduce the cost our customers pay for solar, while also supporting their interest in solar energy in ways that are most meaningful for them,” David Fountain, Duke Energy’s North Carolina president, said. “For many customers, installing solar is a significant investment. Duke Energy’s rebate program will help them by lowering their initial costs.”
Duke Energy expects the program to expand North Carolina’s private solar market by 200 percent over the next five years. Currently, approximately 6,000 Duke Energy customers in North Carolina have private solar systems with a total capacity of approximately 50 megawatts.
Under the program, residential customers would be eligible for a rebate of 60 cents per watt for solar energy systems 10 kilowatts (kW) or less. Installed systems 10 kW or larger could receive a maximum rebate of $6,000.
Nonresidential customers would be eligible for 50 cents per watt. Nonprofit customers 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 non-residential customers or $75,000 for nonprofit customers.
The North Carolina Utilities Commission will now decide whether to approve the program.
