If you’re ready to use your own clean power source and break free from the grid, our solar consultants are ready to help you in the North Carolina area. Here are the available incentives for your solar investment:
Duke Energy Solar Panel Rebates
North Carolina residents who want to install a solar panel system can receive generous rebates from Duke Energy. Homeowners can enjoy a $0.60/Watt rebate for systems up to 10 kilowatts. For example, the average customer with a 6 kilowatt (kW) system would be eligible for a $3,600 rebate. Non-residential customers can also receive rebates worth $0.50/Watt up to $50,000 and non-profit customers can receive $0.75/Watt up to $75,000.
Revolving Loan Options
North Carolina legislation allows cities and counties in North Carolina to offer low-interest loans for solar panels and other energy upgrades. Because of this legislation, solar loan terms can’t be longer than 20 years, must have an interest rate cap set at 8% and can easily be renewed.
Federal Investment Tax Credit (ITC)
As the most significant incentive for installing solar panels on their roof, the Investment Tax Credit (ITC) helps homeowners reduce the cost by 26%. It applies only to customers who purchase their systems via cash or a solar loan.
State Property Tax Exemption
We all know adding a solar energy system to your home increases your property value, but it can also result in higher property taxes. All North Carolina homeowners who use their solar panels for residential purposes (not business or profitable intention), the value that solar adds to your property isn’t included in property tax assessments because of the state’s property tax exemption.
Building Permit Rebates
Asheville residents can get a rebate on your building permit when installing solar on both residential and commercial properties. These small solar incentives can add up quickly!
Net Metering in North Carolina
When you install solar panels on your roof, make sure you get credit for all the power your energy system generates. North Carolina’s net metering policy credits you for the excess electricity your system produces and allows you to use those credits in the future when your system doesn’t generate enough power (on cloudy days or at night).
Here are the top utility net metering programs available in North Carolina: