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Progress Energy Cuts Solar Rebate and Hikes Energy Rates

Holly Springs, NC Solar

Last week, the North Carolina Utilities commission approved Progress Energy‘s Sunsense rebate change from $1,000 per kilowatt AC installed, to $500 per kilowatt AC installed. This is a 50% rebate reduction. This means that the rebate amount for a 5 kW solar system would be now be $2,500 instead of the prior $5,000.

Days later, Progress Energy and Public Staff agreed on a 4.7% rate hike with another 5.7% hike in future years. The rebate change approval was caused in part, due to the fact that the cost of solar has dropped to the point where Progress Energy could justify the lower subsidy. So in reality, it doesn’t increase the cost of solar, as it might appear to.

The other good news is that the utility still pays $4.50 per kW monthly (or $22.50 toward your monthly energy bill) assuming that it is a 5 kW solar system.  

The rebate reduction is not scheduled to go into affect until March 30, giving homeowners another month to file for the rebate before it takes effect.

Effective in October of 2013, to qualify for the utility rebate, the system must be installed by a NABCEP-certified installer. This is a great development for customers, and for companies like Yes Solar Solutions, who have already invested in the NABCEP training and certification.  NABCEP is the only certification process in place for solar installation. You can find a certified installer in the NABCEP directory.

If you are a Progress Energy customer and have been considering solar, now is the time. We can explain the rebates and solar tax credits in detail.  For a turn-key solar solution, contact Yes Solar Solutions or call 919-459-4155 for a free site evaluation!

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