Duke Energy’s North Carolina solar rebate program returning in 2019, and you better act fast
As 2018 draws nearer to a close, 2019 opens a new opportunity for North Carolina’s Duke Energy residential customers to benefit from a rebate for installing a solar panel system at their home.
This past July, Duke Energy began a state-mandated five-year, $62 million program where it is offering customers a rebate of 60 cents per watt for new solar energy systems sized at 10 kilowatts or fewer. The funds allocated for the first year were exhausted after just two weeks, with many customers who had signed up for the rebate unable to get it.
Because of the high demand, the North Carolina Utilities Commission ordered that residents who signed up and were unable to get the rebate have the chance to benefit from the funds set aside for 2019. So customers whose projects were connected between Jan. 1, 2018, and July 26, 2018, will have first priority for the 2019 funds, while projects connected from July 27 and through the end of the year will be next on that list.
SOLAR EDUCATION: Learn more about going solar with POWERHOME!
Duke Energy notes on its website that customers whose project is connected within the first 90 days of 2019 will be able to apply for the 2019 rebate program. Given the expected high demand, North Carolina Duke customers should submit their project as quickly as possible after the application opens on Jan. 2 at 9 a.m. to give themselves the best shot at getting the rebate dollars allocated for 2019. Duke Energy’s North Carolina solar rebates page can be found here.
It’s also important to note that customers do not need to have their solar systems installed within those first 90 days of 2019 to submit their application with Duke. Customers are allowed to apply prior to constructing their system, though Duke spokesperson Randy Wheeless notes that the installation now must be completed within that calendar year of application (in this case by Dec. 31, 2019).
Wheeless also notes that the NCUC’s order to reallocate 2018 capacity is just a one-year exception. That means that those who don’t sign up in 2019 before funds run out will be out of luck to secure the rebate altogether.
If you’ve been sitting on the sidelines waiting for a better solar deal in North Carolina, there may not be a better time to act than now. On top of the potential Duke Energy rebate available, customers also may be eligible for a 30 percent federal tax credit on installed solar systems. That’s another significant reduction on the price of your system, provided you qualify for the credit. See your tax professional for more details.
With POWERHOME Solar’s own innovative solar program, homeowners can go solar for $0 up-front cost, save money on their electric bills, and generate their own clean energy. The solar panels installed on your home come with a 30-year warranty, with many panels expected to last well beyond that.
Please feel free to fill out our handy form below or contact POWERHOME at 800-765-2715, and one of our solar representatives will help you determine whether your home qualifies for POWERHOME’s program. Envision the savings!