Description

Progress Energy Carolinas (PEC) is offering an incentive for their non-residential customers in North Carolina and South Carolina to install solar water heating systems. PEC will pay $20 for each renewable energy credit (RECs*) generated by the solar water heating system for a period of 10 years. One REC represents one megawatt-hour (MWh) of electricity produced (or in the case of solar water heating, one MWh avoided) by a renewable energy source. North Carolina utilities are subject to the state’s Renewables and Efficiency Portfolio Standard (REPS). Utilities can demonstrate compliance with the REPS by purchasing RECs. Purchasing RECs from their commercial customers’ solar water heating systems will help PEC meet the requirements of the REPS.

To be eligible for the incentive, roof mounted solar water heating systems must be installed in North Carolina or South Carolina on real property owned by a non-residential customer of PEC, and must have between 1,200 and 4,000 square feet of collector area (roughly 30 to 100 solar thermal panels). Systems owned and operated by a third-party on a PEC customer’s property are also eligible for the incentive. All systems must be installed by a qualified solar installer. To participate, PEC customers must first submit an application. PEC maintains sole discretion to accept, accept with conditions, or reject any application for any reason. If the application is approved, PEC will provide the applicant with a program contract. Customers must install a BTU meter on the system and provide monthly readings to PEC for payment.

*One REC is equivalent to 3,412,000 British Thermal Units (BTUs)