From attractive incentives to saving the Earth, there are many reasons North Carolina homeowners are going solar. Solar is also affordable and can be a great investment for your North Carolina home. Most regions in the state get more than enough sunshine to power the average home. According to the SEIA’s Solar Market Insight report, North Carolina is the second biggest solar-producing state in the country. As of 2020, there are 504,119 SC homes running on the sun, so you will be in great company! Here are some of the reasons why solar just makes sense in the Tar Heel State.
Benefits and incentives
- North Carolina net metering is offered by the three investor-owned utilities – Duke Energy, Progress Energy, and Dominion North Carolina Power. With this attractive program, eligible customers get paid a one-to-one credit for the electricity their solar system sends to the grid. The three utilities mentioned above allow you to roll over excess credits to the next month, until the beginning of each summer billing season.
- Duke Energy offers a $0.60/watt rebate for solar systems up to 10 kilowatts. There is currently a waitlist for this program for solar customers for the second half of 2021.
- North Carolina State Property Tax Exemption* exempts home solar systems from property taxes up to 80%. The value solar adds to your home won’t be included in property tax assessments! This exemption applies to both state and local property taxes.
- Federal tax credit* (also called the investment tax credit) gives you 26% of the cost of your solar system back as a federal tax credit. You must owe income tax at the end of the year to collect on this credit, but you get up to 5 years after you install your solar system to collect the credit. Note that the investment tax credit will drop to 22% in 2023.
*You should contact a qualified tax expert and consult with them. Neither Freedom Forever’s family of independent authorized dealers nor Freedom Forever itself can give you tax advice. A qualified tax professional will understand your situation and be able to give you the most relevant advice.
Clean energy saves the Earth
Clean energy is a great benefit of solar power and is a big reason why North Carolina homeowners are going solar. The state created The North Carolina Clean Energy Plan to reduce greenhouse gas emissions by 70% by 2030 and a carbon-neutral grid by 2050. To meet these goals, we predict the state may bring additional incentives to homeowners looking to go solar. Current incentives are meant to:
- Reduce greenhouse gas emissions in North Carolina
- Reduce fossil fuel use
- Shrink the state’s carbon footprint
- Improve community health by cutting air pollution
By going solar you are supporting these goals and supplying clean energy to your community. North Carolina is known to have beautiful outdoors decorated with waterfalls, lakes, and parks. It is important to preserve these for future generations. Saving the Earth and reducing pollution in your community is just another big reason to go solar.
So, does solar make sense in North Carolina?
Yes, solar makes sense in North Carolina because the state gets plenty of sunshine so a solar system may provide abundant electricity for your home. Freedom Forever will design a system to fit your home’s needs and help you get the most out of the sun. You can feel good knowing you are doing your part to save the planet while enjoying great incentives! Many North Carolina homeowners are already reaping the benefits of clean solar energy and you can too. Plus, you’ll be able to enjoy Freedom’s 25-year Production Guarantee.