Energy Storage Solutions For The Home 

Most of us understand the feeling of losing power during a rough storm or grid outage. Panic begins to set. We worry about the food we just bought at the store, the appliances we have running, the battery level on our devices, and even medical equipment that loved ones depend on. Many homeowners tend to brace themselves for potential outages that come with weather events. With energy storage solutions for the home, homeowners can be at ease knowing there is backup power ready for when they need it most. 

Besides energy security, homeowners investing in energy storage solutions also have the ability to manage how their energy is used. When an energy storage unit is paired with a solar energy system, homeowners can store clean energy and decide how it gets used. With time of day energy usage as the new norm for utility rate prices, homeowners can avoid pulling from the grid during peak hours by using energy that was saved at previous times.  

A Close Look At LG ESS Home 8

The LG ESS Home 8 is LG Electronics’ newest solution for energy storage and energy management. This energy storage system can be installed without the need of a solar energy system, but pairing the unit with solar allows for homeowners to save clean energy produced by solar. A capacity of 14.4 kWh gives homeowners 1-2 days of power if they are fully relying on battery back up. 

Along with a peace of mind, homeowners can link their LG appliances and LG ESS Home 8 with the LG ThinQ App. With the ThinQ App, homeowners have access to their appliances and battery backup in the palm of their hands. Besides being able to check on laundry cycles and oven temperatures, off-grid mode can be enabled in the app during the case of an outage, which allows homeowners to take control of their power. 

Energy Storage Installation With Renu Energy Solutions 

Renu Energy Solutions has a fantastic partnership with LG. We have access to LG ESS Home 8 batteries, meaning we can order the battery so you don’t have to. LG trusts our team of licensed electricians and rooftop technicians to install battery backup whether it’s paired with a solar energy system or hooked up directly to the grid. Either way, Renu Energy Solutions is your hometown option for energy storage solutions in the Carolinas.

Family First

Creating a sustainable life at home starts with getting your family educated and inspired about going green. Teaching the importance of sustainable habits like recycling, shutting off lights, gardening, and composting are small steps families can take to encourage their children to live a renewable lifestyle. This family took sustainability a step further by investing in a solar energy system for their home. Even while enjoying family time outside on a beautiful sunny day, the family is producing their own renewable energy while also saving money on electricity costs.

Why Solar Works For Families  

Solar energy works wonderfully for families of any size. Families use more energy than couples alone, which makes them the perfect candidates for solar. The amount of sunlight that hits the Earth’s surface in an hour and a half contains enough power to meet energy needs from across the world for an entire year. For our customers with a family of 6, solar energy helps meet their needs with no issues!

With the sun powering this family’s home, they are able to save over $100 each month by avoiding expensive electricity costs. Before this family paid an average of $160 a month on power. Now they spend an average of just $40 a month. Our inhouse team of energy consultants, operations team, and installation teams were able to help this family design and build a system that nearly offsets their need to pull electricity from the utility grid.

Saving For What Matters Most 

When a family like this saves on solar, they are saving for the important things in life. Whether that be football, MMA, or gymnastics this family is able to provide experiences for their children that build a strong work ethic, character, and memories to last a lifetime. Along with extracurricular activities, this family can save for emergencies and unexpected life changes. Solar energy for the home provides families with a way to live more sustainably for the environment and their loved ones. 

The Charlotte Auto Show: Where Automotive Excellence Meets Innovation

Each year, the Charlotte Auto Show takes over the Convention Center in Uptown to showcase a variety of vehicles from top brands in the automotive industry. From November 16-19, ticket holders get a chance to see over 170 vehicles from automakers such as Toyota, Ford, Porsche, Ram, Maserati, Chevorlet, and more! Guests are able to make purchases on vehicles, win designer handbags and heels while raising money for pediatric cancer, and play games for children of all ages. Along with vehicle exhibits, a new tech and sustainability zone will be available for guests to learn more about sustainability for vehicles and homes.

Renu and Sun Services: Pioneering Sustainable Energy Solutions

This year, Renu Energy Solutions and Sun Service Specialists are proud to support the Charlotte Auto Show’s  New Tech and Sustainability Zone. Since both companies focus on providing solar energy, energy products, and services that are sustainable, Renu and Sun Service will demonstrate how solar energy can power your home and electric vehicle. Our displays will showcase some electric vehicle chargers for the home, solar panels, and energy storage units. Along with these components, members of the Renu Crew and Sun Service Squad will be there to answer any questions regarding solar, energy storage, and electric vehicle charging.  

We aim to educate exhibitors on the importance of utilizing solar energy to charge electric vehicles; eliminating the need of fossil fuels to power homes and vehicles. Through graphics and product demonstration, exhibitors will learn how solar energy works step by step. 

What Are Solar Tax Credits?

When customers decide to invest in solar for their home, one of the perks they receive is the solar tax credit. Ever since The Inflation Reduction Act of 2022 passed, customers get a 30% Federal tax credit for their system, installation costs, and energy storage units that are paired with the solar system. South Carolina customers receive an additional 25% State tax credit, making the total tax credit for their system 55%.

For example, if a customer receives a tax credit for $5,000 for their system, their Federal income taxes are reduced by $5,000. Let’s say this customer owes the IRS $2,500. The solar tax credit would be used dollar for dollar to bring the balance the customer owes to $0, and then the customer would carry forward the remaining $2,500 to the following year. Customers have 10 years to utilize the full amount. 

Criteria For Claiming Tax Credits 

Customers can claim solar tax credits by meeting the following criteria: 

–They were the ones who used the system for the first time. (Excludes people moving into a house that has a system already installed)

–They are the homeowner where the solar system is installed

–The solar system was installed after January 1, 2017

Speak with a tax professional to ensure you meet all of the criteria to claim the solar tax credit.

Overview

When Duke Energy North Carolina approved changes to their net metering policy back in March 2023, potential solar energy customers had a limited time to decide on a system before the changes kicked in on October 1, 2023. Once these customers signed a contract, they were able to apply for interconnection with Duke Energy North Carolina’s 1:1 legacy net metering program. Today, new customers receive the option of a modified net metering program called time-of-use (TOU) or enter a bridge NEM program. 

TOU

With time-of-use net metering, Duke Energy North Carolina rates are based on the demand of energy at specific times. Peak energy rates are determined based on what time of day it is, what day it is, and what time of year it is. For example, energy rates may be higher in the summer during evening hours when people are getting home from work. Prices customers pay changes as demand for energy changes. Solar paired with a battery is an excellent combination to take advantage of time-of-use rates, allowing for charging at less expensive rates and discharging at the more expensive rates. TOU won’t entirely take over until January 1, 2027. In the meantime, new solar customers receive a Bridge Rate net metering program.

Bridge Rate

Duke Energy North Carolina’s Bridge Rate is available for new customers for a 5 year duration until January 1, 2027. This rate allows customers to opt in for a hybrid net metering program that mixes aspects of the legacy net metering rate and the TOU rate. Now, new customers won’t immediately receive credits based on time-of-use, however, they are able to ease their way into the change for the next 5 years. 

Since the legacy net metering program is a part of the Bridge Rate, new customers receive 1:1 credits for their energy sent back to the grid, and those credits are applied to the customers utility bill. These credits help customers save on their utility bill by applying the credits towards new energy charges.

Lower Prices

Ever since the early 2010’s the median customer price dispersion overtime has decreased for a solar system. The graph from EnergySage below shows the median quoted prices a typical customer sees $/watt on a solar energy system. As the graph shows, there has been a significant decrease in price dispersion since 2014. With the supply of solar components being at a high for 2023, price dispersion is expected to decrease, meaning less expensive solar systems for new customers.

Image courtesy of EnergySage

Conclusion

As the sun sets for 1:1 net metering in North Carolina, customers now receive a Bridge Rate for 5 years before fully committing to time-of-use net metering. Now that Duke Energy North Carolina will start adjusting rates for peak hours, energy independence is more enticing than ever. Potential customers can expect a less expensive $/watt cost since component supplies are up. Of course we can’t predict policy changes for utility companies, but what we can do is lock in rates before they change again.