Duke Solar Energy Rebate 2022
If you still need reasons to invest in solar energy for your home or business, look no further than your bank account. If your utility is Duke Energy or Duke Energy Progress, you could save money (even more money than you’ll already save by going solar) while helping to save the world. Yes Solar Solutions has a special deal for you to buy a solar lottery ticket for the Duke Energy Solar Rebate.
All Duke Energy customers who install solar panels are eligible for a healthy rebate! Here’s the short version:
- Homeowners: Save 40-50% when you combine the Duke Energy solar rebate—up to $4,000—with the 26% federal tax credit.
- Businesses: Between rebates and tax credits, save more than 70%.
Here are some more details about how the program works:
| Home Solar Rebate Program | Business Solar Rebate Program | Non-Profit Solar Rebate Program | |
|---|---|---|---|
| Rebate Amount | 40¢ per watt $3,000 to $4,000 for a typical home solar panel system | 30¢ per watt $30,000 for a 100 kW solar system | 75¢ per watt $75,000 for a 100 kW solar system |
| Cost Impact approximate | 40% off cost of solar When the rebate is combined with the 26% Federal Tax Credit for home solar. | 50% off cost of solar When the rebate is combined with tax incentives for commercial solar. | 30% off cost of solar Non-profits can't use the existing tax incentives for solar so this a unique opportunity for non-profits. |
| Maximum Rebate | $4,000 10,000 watts x $0.40 | $30,000 100,000 watts x $0.30 | $75,000 100,000 watts x $0.75 |
| 2021 Capacity | 700 Homeowners 5,000 kW capacity / average size of 7 kW | 50 Businesses 2,500 kW capacity / average size of 50 kW | 50 Non-Profits 2,500 kW capacity / average size of 50 kW |
This program has been very popular with both residential, commercial, and nonprofit customers! To be eligible when the last application opens on July 6, 2022 it’s important to start the process of selecting a solar installation company and getting an interconnection request filed as soon as possible. If you start the process with a solar company and get your interconnection ID, you can apply between July 6 and July 13 and have until December 31, 2022 to complete the installation and get the meter set. The rebate also became a random selection so you do not have to be the first in line on July 6.
Yes Solar Solutions was on the working group that negotiated this rebate with Duke Energy, and we are uniquely qualified to help you navigate the process.
You may still qualify for the 26% federal tax credit for installing a residential or commercial solar energy system. Although planned to decrease in 2021, the spending bill passed in December of 2020 extended this credit through 2022 and then decreases to 22% in 2023—so don’t wait to take advantage of this savings!
Not sure what to do? We can help! Contact us today and we’ll walk you through your options.
