The North Carolina Utilities Commission just approved a new $62 million solar rebate program which will in turn help North Carolina customers with the upfront cost of installing solar panels on their property.
North Carolina is second in the nation for overall solar capacity. Currently, in North Carolina, there are over 6,000 residents with private solar systems in place and this program expects to increase North Carolina’s private solar market by 200 percent over the next five years, providing an economic boost for the state’s solar installation business as well.
Under the program, residential customers will be eligible for a rebate of 60 cents per watt for solar energy systems that are 10 kilowatts or less. For example, a typical rooftop array of 8 kW would be eligible for a $4,800 rebate. Installed systems 10 kW or greater would be eligible for a maximum rebate of $6,000.
Nonresidential customers would be eligible for 50 cents per watt. Nonprofit customers, such as churches and schools would be eligible for an even larger rebate of 75 cents per watt for systems 100 kW or less. Installed systems 100 kW or greater would be eligible for a maximum rebate of $50,000 for nonresidential customers, or $75,000 for nonprofit customers.
There will also be a solar leasing option which is much like leasing a vehicle. Instead of owning the system, customers can lease solar panels from another company.
* Excerpts taken from an article published in Charlotte Stories