SOLAR MAKES THE OLD NORTH STATE GREEN
Why go solar in North Carolina
We aren’t surprised that North Carolina is becoming a popular state for solar. Legislation is offering new policies and incentives in favor of solar energy, including competitive rebates. There are many reasons homeowners are going solar in the Old North State, but saving money and the environment are top of the list.
Save on energy
Your solar system can help you save by avoiding high utility rates. North Carolina has a time of use (TOU) rate program. This means you may pay higher rates when you need energy the most. If you have batteries, you may not even need to use energy from the grid at night. With net metering, your utility company may actually pay you instead.
Be prepared for outages
There are many reasons people go solar, but being prepared for outages is one of the most mentioned. In the case of a storm or other unforeseen weather, you may have a power outage. However, if you have a solar system with batteries, you may not be affected. You can continue to power your home with the excess energy in your power pack. Talk to your dealer about what batteries are the best fit for you.
Preserve North Carolina’s outdoors
North Carolina is full of beautiful parks, mountains, and lakes. Maintaining the state’s natural beauty and resources is a big reason to go solar. Every North Carolina homeowner that goes solar can help contribute to the reduction of greenhouse gas emissions, such as CO2.
Have predictable payments
North Carolina has TOU rates for homeowners. This means that your monthly bill can be difficult to predict. Solar can help make your monthly energy bills more predictable even with the varying TOU rates. If you offset* your energy consumption, you could help minimize your monthly bill.
Invest in your home
A big reason homeowners decide to install a solar system is to reinvest in their home. A solar system can increase your home value and its sale price. The average North Carolina home is valued at approximately $225,740, that’s a 9.3% annual increase from the previous year.* Keep up with the rising home values by investing in your home instead of giving your hard-earned money to your utility provider.**
Solar incentives in North Carolina**
North Carolina homeowners can take advantage of the Renewable Energy Systems Sales Tax Exemption which exempts 80% of the appraised value of your system from property tax. Duke Energy and Dominion Energy currently offer net metering to eligible customers. Duke Energy has a competitive rebate program. Although it has reached capacity for 2021, it is expected to return in 2022.
North Carolina homeowners are also eligible for the Solar Investment Tax Credit (ITC).**** The ITC allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.
Solar panels perform in all kinds of weather
Going solar is a big decision, and although there are many factors you should consider, local weather shouldn’t be a deterrent. Solar panels are designed to work in almost any type of weather… even snow and clouds!
Sunny
There are sunny days ahead for solar. The more sun you have access to, the longer your panels work during the day. Your panels work best at converting energy when sun rays shine directly at them. The more energy you produce, the more excess you may be able to send back to the grid. Take advantage of the excess through net metering and other incentive programs.
Rainy
As the rain pours down, your panels will continue to be hard at work. Solar panels will work with reflected or partially blocked sun rays to keep your home powered. Your production is linked to the amount of clouds. Rain will have some effect on your production, but the rays will still penetrate through the rain. It may actually help keep your panels working efficiently as they wash away any dust or dirt.
Cloudy
It is a misconception that panels don’t work on cloudy days. The best way to know how much the clouds affect your system’s performance is to monitor your system on sunny days and compare. Your system may actually be more efficient without the excess heat. This is because solar systems prefer the cold! The sun’s rays are still able to penetrate through cloudy skies and keep your system running.
Snowy
Amazingly enough, even when covered in snow a solar system can still produce power! Scattered light filters through snow and reaches solar panels even when the snow cover is fairly heavy. Your solar panels may actual be more efficient in light snow. Cold weather helps them perform better, and usually snow slides right off. Power production may be reduced with heavier snowfall, but your system can still produce.
Windy
Solar panels are highly reliable and sturdy, they hardly notice your average winds. In most cases, damage from wind will be due to weakened roofs, not solar panels. This is why we assess your roof condition and reccomend any repairs prior to installing your system. In the event that higher winds cause an outage in the grid, you will still have power if you have batteries with your system.
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*Offset requires matching energy usage to the solar system’s output.
**This information is current as of May 5, 2021 and figures are only an approximation. We advise you to consult with the appropriate professionals (including, but not limited to, your solicitor or attorney, accountant, CPA, CGA, or any other financial or legal advisor) for the implications of any information contained in our website and in any link you access through our website.
***Customers are encouraged to check with their local utility providers for the most up to date and accurate information regarding solar incentives and programs available.
****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.
