Duke Energy Solar Rebates Going Fast
Duke is in the fifth and final year of the $62 million rebate program, which was required by a 2017 state law. During early January, the corporation received 3,431 applications, but just 802 reimbursements worth $3.4 million were distributed to households and businesses. This time around, according to spokeswoman Randy Wheeless, the 802 rebates utilized up all of the capacity for home and business rebates.
Duke Energy is one of the country’s largest utility holding companies, serving 7.7 million retail customers throughout six states: North Carolina, South Carolina, Indiana, Ohio, Kentucky, and Florida. To qualify for this rebate program, you must be a Duke Energy customer located in North Carolina and own or have rights to the property where the solar arrays will be installed and used. You must be the account holder and be on a concurrent electric retail rate with Duke Energy.
Here is how much could you get back:
• Residential customers: 40 cents per watt or $4,000.00 rebate maximum
• Nonresidential customers: 30 cents per watt or $30,000.00 rebate maximum
• Nonprofit customers: 75 cents per watt or $75,000.00 rebate maximum
Churches and organizations are the only places where money is still available, with grants of up to $75,000.00 available. Over the last 4 and a half years, only a few religions, governments, and nonprofits have applied. In the most recent round, Duke received only nine nonprofit applications from its two North Carolina territories.
Meanwhile, a federal tax credit for home solar is still available, albeit it will expire next year. The federal tax credit is also known as the Investment Tax Credit. The federal home solar energy credit is a tax credit for a percentage of the cost of a solar photovoltaic (PV) system that can be claimed on federal income taxes. The system must be installed and generate electricity for a dwelling in the United States within the tax year.