Solar Energy in North Carolina
North Carolina is a great place to go solar. The major investor-owned utilities in North Carolina, which include Duke Energy, Progress Energy, and Dominion North Carolina Power, are required to offer net metering to their customers. In addition, there are some local rebates and utility incentives that make going solar even more rewarding.
You can utilize the federal tax credit, too, which is equivalent to 26% of the total cost of your system. The tax credit combined with some local and utility incentives have the potential to cover about 50% of the investment costs!
North Carolina Solar Power Facts
$2.62 watt
Average cost: 5kW solar power system.
Average Payback time
On average it takes 6 Years 7 Months to pay back the system.
Average Lifetime Savings
On average, solar power can save you $67,825 over your lifetime.
4¢ kWh
This is the levelized cost of solar energy.
25¢ kWh
This is the levelized cost of energy without solar panels.
14,097 kWh
Annual power production of home solar panels.
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How much do solar panels cost in North Carolina?
Before 26% solar tax credit
Before 26% solar tax credit
Ave 15 year term, 2.5% price escalator
What are the pros and cons of installing solar panels in North Carolina?
The advantages of installing solar in North Carolina include the excellent net metering policy and the strong sun exposure that makes the production of solar systems in North Carolina higher than in some other states.
The disadvantage of installing solar in North Carolina is that incentives are beginning to dwindle due to utilities meeting their renewable energy goals. However, the falling price of solar in general more than makes up for the limited incentives.