Market Overview

Demand strong for Duke Energy's North Carolina solar rebates

Share:

Demand strong for Duke Energy's North Carolina solar rebates

- More than 1,500 N.C. customers have applied for company's rebates

- Duke Energy seeking permission from NCUC for some customers to apply again in 2019

PR Newswire

CHARLOTTE, N.C., July 27, 2018 /PRNewswire/ -- Duke Energy's North Carolina solar rebate program has attracted significant interest from customers, with more than 1,500 applying for the incentive to install private solar systems in the first few weeks of the program's launch.

Duke Energy's solar rebate program has attracted significant interest from customers, with more than 1,500 applying for the incentive to install rooftop solar systems in North Carolina.

"Customers are overwhelmingly embracing our rebate program and are supporting Duke Energy's efforts to promote renewable energy in North Carolina," said David Fountain, Duke Energy's North Carolina president. "Under the Competitive Energy Solutions for North Carolina legislation, Duke Energy will bring a steady influx of new solar capacity to the state over the next five years."

The rebate offering, which opened July 9 to all Duke Energy customers in the state, is part of a five-year, $62 million program designed to support customers who want to install solar systems at their homes or businesses.

As a result of the popularity of the program, there is a waiting list for the residential and nonresidential categories for 2018 capacity. Due to the first-come, first-served application rule of the program, the company is seeking permission from the N.C. Utilities Commission (NCUC) to allow residential and nonresidential customers who installed systems between Jan. 1, 2018, and July 26, 2018, another opportunity to apply for the rebate program in 2019. There is still capacity left for nonprofit customers this year.

About 16 megawatts of new solar capacity has been accepted for rebates – totaling about $9 million. Overall, up to 20 MW of new capacity is expected to be added each year during the five-year program. At the start of 2018, Duke Energy had about 5,000 customers with private solar in North Carolina, with a total capacity of about 50 MW.

Information for the rebate program can be found at: duke-energy.com/home/products/renewable-energy/nc-solar-rebates.

Solar rebate program

Under the program, residential customers are eligible for a rebate of 60 cents per watt for solar energy systems 10 kilowatts (kW) or less. For example, a typical rooftop array of 8 kW is eligible for a $4,800 rebate. Installed systems 10 kW or greater are eligible for a maximum rebate of $6,000.

Nonresidential customers are eligible for 50 cents per watt. Nonprofit customers (such as churches and schools) are eligible for an enhanced rebate of 75 cents per watt for systems 100 kW or less.

The rebates are divided into maximum annual allotments of 20 MW and are on a first-come, first-served basis – depending on when the customer application is submitted.

Other solar programs underway

Duke Energy's various solar programs are an outgrowth of 2017's Competitive Energy Solutions for North Carolina legislation.

Also underway: Duke Energy is currently soliciting bids for projects totaling 680 MW of utility-scale new renewable energy capacity. Proposals must be for a single facility between 1 and 80 MW and capable of being placed in service prior to Jan. 1, 2021.

An independent administrator will manage the bidding process and help select the most cost-effective bids.

Duke Energy has more than 2,500 MW of solar capacity connected to its grid, which includes those owned by Duke Energy and those owned and operated by other companies. At peak output, that could power 500,000 homes. North Carolina is No. 2 in the nation for overall solar power capacity.

Bids for new projects are due Sept. 11. Details on the RFP can be found on the independent administrator's website at https://decprerfp2018.accionpower.com/.

Duke Energy is one of the nation's leading renewable energy companies. The company operates more than 20 wind facilities and 60 solar facilities in about 20 states around the nation.

About Duke Energy

Headquartered in Charlotte, N.C., Duke Energy (NYSE:DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.

The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.

A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.

More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Media Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Email: Randy.Wheeless@duke-energy.com 
Twitter: @DE_RandyW

Duke Energy, the nation's largest electric utility, unveils its new logo. (PRNewsFoto/Duke Energy) (PRNewsfoto/Duke Energy)

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/demand-strong-for-duke-energys-north-carolina-solar-rebates-300687762.html

SOURCE Duke Energy

View Comments and Join the Discussion!