Facing a utility rate increase? It doesn’t have to happen! Duke Progress Energy rate increase for North Carolina residential customers is 5.3%, and it was effective June 1, 2021. But some homeowners will not have to pay more. The rate increase has been in deliberation since 2020 by the North Carolina Utilities Commission and is partly to pay for the coal ash clean-up ordered by the NCUC. Duke Progress Energy has 1.4 million customers in North Carolina, and besides the rate increase to residential clients, commercial users will pay 4.7% more and industrial customers an additional 3.6%. Learn more from Duke Energy’s press release here.
Who Won’t Pay a Duke Energy Rate Increase?
Customers who have already invested in solar won’t pay a penny more for electricity… ever. Their rates froze the day they turned the meter on. Most solar companies use a rate increase factored in the projected savings from solar. Some use a pretty aggressive multiplier to make solar look even more attractive, but a conservative assumption, one that Yes Solar Solutions uses, is 3%. The 5.3% increase makes solar an even better return than those customers expected and shortens the payback period. Don’t believe us? Listen to what our customers say!
The Time for Solar is Now.
With the boon of the extended 26% federal tax credit, and with the availability of the Duke Energy Solar Tax Rebate (up to $4,000) and the prospect of higher utility rates, there hasn’t been a better time to go solar. Instead of a Duke Progess rate increase, you can freeze your utility rate now, and with energy storage you can significantly reduce the amount of electricity you would need to buy from Duke Energy, now and for the future. There are a multitude of energy storage options, from Tesla Powerwall to Generac to Enphase, that all function like a generator but are powered by solar.
Save Money, Save Energy, Save the Earth.
Yes Solar Solutions customers in the deciding phase often focus on how much cash they will need upfront, or what the monthly payments will be, how many years the payback will be, what the return on investment is. When their solar system is installed and they get that low (or non-existent) electricity bill and see how much they saved, they are also thrilled to have created their own energy independence and to have done something good for the next generation and the planet. We can make solar simple for you, cut through the many solutions from competing quotes, and provide you with the simple way to go solar. You can trust a local company to be here long after the Duke Energy Solar Rebate is gone, (and perhaps with it the national companies that saw an opportunity when the rebate started), with your warranties covered and your partner is a company with a vested interest in the community and in your satisfaction.
Contact Yes for a virtual assessment and estimate and let Yes make solar simple for you!