North Carolina Solar Panels
The great state of North Carolina has quite a few things to be proud of when it comes to its history. It boasts the oldest state university in the nation. It’s also the place where the Wright Brothers first successfully took flight.
Yes, the Tar Heel state has been the birthplace of a lot of great things, and its citizens know a good thing when they see it- like solar energy. In North Carolina, solar panels are becoming more and more popular, just like everywhere else in the world. And it’s not a big surprise why. Aside from keeping the environment clean and healthy, solar energy also generates clean electricity for your home, reducing your electric bill, and giving you great savings. With the 26% Federal Solar Tax Credit, plus other North Carolina solar incentives, switching to solar power is easier than ever!
- 26% Federal Solar Tax Credit
- Net Metering
- Property Tax Exemption
26% Federal Solar Tax Credit
When you decide to invest in something big, like North Carolina solar panels, of course you want to do it for the best deal available. And the best incentive of all is offered by the federal government. It’s obvious that renewable energy systems such as solar panels are the future of energy generation. To help people install solar panels, they are offering a 26% Federal Solar Tax Credit to help cover a portion of the total cost of your solar panels.
Let’s use an example. Say you purchased a new solar panel system, and the total cost was $12,000. If you took advantage of this incentive, you would get 26% of that cost back in tax credits. In this case, that would be $3,120, which would reduce the actual cost of your solar panels to $8,880. You could use that tax credit towards your tax liability for that year. And if you don’t use it all one year, it just rolls right over to the next. This tax credit has helped many people go solar in North Carolina, and you can do the same.
However, keep in mind that this incentive won’t be around forever. Starting January 1st, 2021, the tax credit amount is reduced to 22%. And in 2022, it’s unavailable to residences entirely. So be sure to move fast if this incentive sounds good to you.
Net Metering for North Carolina Solar Panels
Solar panels save you money each month, thanks to the electricity they produce, and keep the environment clean and pristine. There’s also another great way to get the most out of your solar panel system called net metering.
Net metering a system in which you sell any excess electricity produced by your solar panels to your utility company. They will then credit your account for this energy, which reduces your monthly bill even further. Currently, the following utility companies offer net metering. Many municipal utilities and electric co-ops offer net metering as well. Please note that the requirements below are all handled on your behalf by Sunpro Solar. They are simply listed for your knowledge.
Duke Energy Progress
North Carolina Solar Rebates
As if the Federal Solar Tax Credit and net metering weren’t good enough incentives, there’s another one you can take advantage of! If you’re a customer of Duke Energy or Duke Energy Progress, you may qualify for their North Carolina Solar Rebate Program. If you do qualify, you could get a rebate of $.0.60 per watt! Solar energy systems of 10 kW or less are eligible for a maximum rebate of $6,000.
Aside from the program being first-come, first-serve, there are only a few requirements. The customer must:
- Complete and submit their Solar Rebate Application within 90 days of installing their solar panel system.
- Complete and submit any other required documentation.
- Qualify for Net Metering.
- Retain service under the rider for a minimum of ten years from the date of the initial participation.
- Own or lease the PV systems installed on their property.
- The customer may apply to the program prior to the installation of the system, in which case a written guarantee will be provided to reserve the rebate for the owner.
- The installation must be completed no later than December 31st of the application year for residential customers.
- For commercial customers, their systems must be installed no later than one year from the date of an executed interconnection agreement by the company.
Property Tax Exemption for North Carolina Solar Panels
When you install solar panels on your home, your property value increases. This is yet another great perk of installing solar panels! However, you may be concerned that this added value will also add onto your property taxes. But don’t worry. The North Carolina government has decreed that 80% of the value of your solar panels is exempt from property taxes. The added value to your home will give you more sellers power should you ever need to move and are unable to take your solar panels with you.
Sunpro Solar, Trusted North Carolina Solar Installation Company
Sunpro Solar has been installing solar panels for over ten years. Our technicians are experienced and licensed, our solar panels come from brands such as LG and Silfab Solar, and our inverters are all from Enphase.
With each installation also comes:
- Our 25-year Production Guarantee
- Our 25-year Labor Warranty
- A FREE Energy Audit to make sure you see maximum savings.
At Sunpro Solar, we pride ourselves on offering nothing less than the best service to our customers. We offer stress-free, turnkey solutions so that you get all the benefits of going solar without having to worry about a thing. We service the greater Durham, Fayetteville, Raleigh, Wilmington, and Winston-Salem areas. Contact us today to learn more!