State ID
North Carolina is ranked 3rd in the country based on the total amount of solar electric capacity installed and in operation (SEIA 2021). This is no surprise due to its strong net metering program, solar rebate incentives, and significant tax exemptions as part of its firm state policy and regulatory support.
Solar Incentives
Duke Energy offers rebates to North Carolina customers who want to install a solar panel system. Legislation enacted in NC allows for cities and counties to offer low-interest loans for solar panels and other energy upgrades. The value that solar adds to a property isn’t included in property tax assessments thanks to this property tax exemption; provided the property is used for residential purposes. If you live in the city of Asheville, you’ll get a rebate on your building permit when installing solar on both residential and commercial properties. North Carolina has a net metering policy that credits you for the extra electricity your system produces, and allows you to use those credits when your system doesn’t generate enough power. Plus, you qualify for the federal solar tax credit.
Frequently asked questions
FAQ
Growth Projection and Ranking: 1,946 MW over the next 5 years (ranks 17th)
Total Solar Investment in State: 10.5 billion. As of March 2022, the average solar panel cost in North Carolina is $2.63/W. Given a solar panel system size of 5 kW, an average solar installation in North Carolina ranges in cost from $11,178 to $15,122, with the average gross price for solar in North Carolina coming in at $13,150.
Generally, homes with solar energy systems sell for more than homes without. In most parts of the country, going solar can increase your property’s value by 4.1 to 9.9%, depending on where you live. Please note: The value of your property will only increase if you own, rather than lease, your solar system. However, a leased solar system may increase your home’s marketability.
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