North Carolina Duke Energy Solar Rebate
Residential solar tax incentives have been a major support for our customers in North and South Carolina. Regardless of where you live in 2020, the federal investment tax credit provides a 26% Federal tax credit based upon the total costs of our solar system. After 2020, the 26% Federal tax credit decreases to 22% in 2021 and then all the way down to 10%.
In January 2018, Duke Energy Carolinas and Duke Energy Progress proposed a $62 Million solar rebate program for Duke Energy Carolinas and Duke Energy Progress customers in North Carolina. The program opened for applications as planned on July 9. Within only about 2 weeks the program had received rebate applications in excess of rebate program capacity – that is, more people applied to receive the rebate for home and business solar than there were rebate dollars to go around.
Duke Energy processes qualified rebate applications in the order received. Queues form to serve rebate applicants as capacity opens up. This will only happen as a result of rebate-qualifying installations getting installed in the following year.
North Carolina residents who have Duke Energy Carolinas or Duke Energy Progress as their utility and have installed solar with a bidirectional meter installed this year are eligible for a rebate which will come in the form of check back to the customer, for customers accepted into the program.
The residential rebate is 60 cents on every Watt (AC) of solar power. This means thousands of dollars back from Duke Energy Carolinas and Duke Energy Progress. The residential upper limit per project for collecting the incentive is 10 kiloWatts (AC) (or up to $6,000), and the non-residential incentive will be applicable up to 100 kiloWatts (AC) (or up to $50,000). Projects can still be installed larger than that, but the incentive will only extend to the approved size.
The rebate is only available for as long as program funds last. Customers “get in line” for the rebate based on the date you apply. In other words rebate applications are to be considered and accepted in the order received. Find a helpful summary in this blog post. If you missed out in 2019, there may be an opportunity for you to qualify to apply for the rebate in 2020.
WSOC interviewed a couple who went solar with Renu Energy Solutions and claimed the rebate in 2018:
Interested to know if you’re eligible to apply for the rebate in 2020? If you’re ready to discuss this incentive with a local solar professional and find out more, give us a call or use the form on this page to request a no-pressure solar energy assessment, and we look forward to speaking with you!
Duke Energy Carolinas and Progress Solar Rebate In the News:
January 10 2019: “Duke Energy Solar Rebate Reaches Capacity” (Spectrum News)