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.

Overview

Back in March 2023, Duke Energy North Carolina approved changes in their net metering policy that came into full effect on October 1, 2023. Now that the day has come, new solar energy customers will receive with time-of-use rates rather than the 1:1 net metering rate that was previously in place. We know what these changes mean for new customers, but let’s dive into what Duke Energy’s changes mean for older solar systems. 

Impact For Older Systems

Customers who previously invested in solar energy for the home are included in the 1:1 legacy net metering program. With 1:1 net metering, customers receive an equal credit for each kWh (kilowatt-hour) that is sent back to the grid. For example, a customer who needs to pay $150 worth of energy costs can use $100 worth of their credits that they earned so they only have to pay $50 out of pocket for that month. These credits can only be applied to customers’ Duke Energy bills. Legacy net metering will allow customers to roll over credits month to month for 1 calendar year at a time until 2027.

In total, the legacy net metering program will be in place for older customers for 15 years since the date of their installation. Once the 15 years pass, customers will transition into a modified “Bridge Rate” net metering program. This net metering program will still give customers a 1:1 rate for the energy sent back to the grid, but credits can not be rolled over into future months like before. 

Conclusion

Homeowners who invested in solar energy before October 1st, 2023 are locked in to a very attractive net metering program for solar. With 1:1 net metering, customers aren’t being charged a premium for energy being used at peak hours like time-of-use customers will face. These customers can have comfort knowing that they are getting the most savings out of their systems. 

System Specs

Hurricane Idalia’s Latest Path

Around 8 a.m Wednesday morning, Hurricane Idalia made landfall in Florida as a Category 3 hurricane bringing 120 mph winds capable of taking down trees and power lines. Tampa, Fort Myers, Naples, and Homosassa Springs are experiencing flooding. Streets on the Gulf side of Florida are flooded, and over 160,000 customers were left without power. As of now, Idalia is making its way through Savannah, Georgia bringing storm surges up to 11 feet, more destructive winds, and inland flash flooding. Idalia will make its way into Charleston, South Carolina later on tonight, and finish up tomorrow morning in the Outer Banks of North Carolina bringing heavy rain before going out to the coast. Living in the south east means that we expect these storms on an annual basis. Why not prepare for power outages from these hurricanes with energy storage units? Owners of a solar energy system can produce excess energy that gets stored in energy storage units so their homes are prepared from grid outages.

Hurricane Energy Storage: Ready for Idalia with Advanced Energy Solutions

Renu Energy Solutions is at the forefront of providing hurricane-ready energy storage solutions. Our offerings, such as the Tesla Powerwalls, Enphase IQ Batteries, LG ESS Home 8, and FranklinWH Batteries, cater to both solar energy users and those without solar systems.

Why Opt For Hurricane Energy Storage?

The primary benefit is resilience. By harnessing the sun’s energy, homeowners can charge these energy storage systems without relying on the grid. This ensures uninterrupted power, especially during unpredictable hurricane-induced outages. Furthermore, even households without a solar energy setup can harness the power of these cutting-edge energy storage solutions.

Investing in our energy storage solutions, like the popular Tesla Powerwall, means ensuring your home remains powered during critical times. Unique features such as the ‘Storm Mode’ in the Powerwall app allow users to activate ‘Backup Reserve’, optimizing the battery’s stored energy during storms. Likewise, Enphase, LG, and FranklinWH offer intuitive apps for their energy storage systems, granting users flexible configurations tailored for severe weather scenarios.

Stay powered, stay safe, and be hurricane-ready with Renu Energy Solutions.

Conclusion

Preparing for Hurricane’s like Idalia is easy when a customer invests in an energy storage unit. Those who invest in a home solar energy system with energy storage units will not only be able to keep their power on during the initial outage, but also continue to charge the energy storage units via solar production from their system. For customers who experience power outages not only during hurricane season, but also year round, investing in solar energy with energy storage is a no-brainer.

System Monitoring: It’s Necessary! 

System monitoring is crucial for understanding and maximizing the production of your solar energy system. By monitoring your system, you gain valuable information about the output of your solar panels, panel performance throughout different seasons, hardware defects, and energy consumption. This information helps you identify and troubleshoot any issues with your system, as well as determine the most productive hours of the day.

Intro To Inverters

To begin monitoring your solar energy system, it’s important to familiarize yourself with your system’s inverter. The inverter plays a key role in converting the direct current (DC) energy generated by the sun into alternating current (AC) energy that can be used in your home. Additionally, inverters track panel health and can indicate if any panels require maintenance due to substandard production.

There are several reputable inverter manufacturers in the market, such as Enphase, SolarEdge, and Tesla. Each of these manufacturers provides their own monitoring app: the Enphase Installer Portal, mySolarEdge app, and Tesla app, respectively. These apps allow you to access real-time data about your system’s performance, including energy production, panel health, and maintenance alerts

Energy Optimization Strategies

By closely monitoring your energy usage, you can identify the peak hours of production and the periods when your appliances consume the most energy. This information is especially useful if you have an electric vehicle charger connected to the internet. With system monitoring software, you can determine the peak energy hours and schedule your vehicle to charge during those times, maximizing the use of solar energy.

Another benefit of system monitoring is the ability to optimize your energy usage and combat your utility company’s Time-Of-Use (TOU) billing policy. TOU billing charges higher rates for electricity during the most popular hours of the day, typically in the afternoon and evening. By knowing these expensive hours, you can strategically plan to charge your electric vehicle and energy storage units during the cheapest hours, reducing your overall electricity costs.

Maintaining Your Solar Investment 

Regularly checking your solar system’s monitoring data allows you to maintain your investment effectively. Pay attention to module health and energy production history. If you notice that some panels are underperforming or your system is not producing as much energy as expected, it may be time for maintenance. Our friends at Sun Service Specialists can help troubleshoot any issues with your solar energy system and provide appropriate solutions to ensure optimal performance.

In summary, system monitoring provides valuable insights into your solar energy system’s production, panel health, and energy consumption. By understanding your system’s monitoring data, you can optimize energy usage, reduce costs, and maintain the performance of your solar investment.