Duke Energy’s Solar Incentives: A Complete Guide

In 2009, Duke Energy Renewables (Duke Energy) launched a new initiative: solar energy. The company sought to reduce its large carbon footprint and invest in renewable energy. To that end, it offered residential and commercial customers the Solar Incentive: a 5% residential rate reduction and a 10% commercial rate reduction on their solar power bills. Customers could install solar equipment and use the energy generated to power their homes or businesses. In addition, Duke Energy provided financing and paid for all installation costs. Finally, it donated $1 to support solar research and development for every $1 of financial support it received.

Why Solar?

Solar energy is one of the most promising renewable energy sources due to its continuous supply and minimal environmental impact. It is also the most popular type of renewable energy among American homeowners. In fact, according to the American Council for Renewable Energy (ACORE), 69% of American homes have installed some type of solar technology.

Duke Energy recognized the potential of solar energy and set out to become a leader in the field. The company began by setting a goal to generate 10% of its energy from renewable sources by 2020. It further declared that it would reduce its carbon footprint by 30% and invest in green energy technology. To achieve these goals, Duke Energy formed a strategic alliance with SunEdison in 2012. Under the terms of the agreement, SunEdison will provide the solar technology and services, and Duke Energy will purchase the energy produced.

Along with its Solar Incentive program, Duke Energy offers another renewable energy incentive program: the Solar Farm Incentive. This program provided a maximum 30% renewable energy source purchase through the SunEdison platform. To qualify, solar energy system owners had to subscribe to the Solar Incentive, whereas the Solar Farm Incentive applied to commercial and residential customers alike.

How Do I Sign Up?

If you’re interested in taking advantage of the Solar Incentive, all you need to do is follow the simple steps below:

  1. Visit the Duke Energy website.
  2. Click on Request a Power Plan.
  3. Complete the form and submit it.
  4. You’ll receive a call from a dedicated solar consultant.
  5. The consultant will walk you trough the signup process.
  6. After you’ve registered, you’ll receive a confirmation email from Duke Energy.

How Much Will It Cost Me?

Duke Energy’s Solar Incentive prices depend on the size of your system. The cost to install a system that generates 10 kilowatts (kW) of power ranges from $7,500 to $12,000. The larger the system, the lower its cost.

A residential system costs $7,500 and provides up to 10 kW of power. For example, a 5 kW system has a price of $37,500 and a 10 kW system costs $12,000. The total cost of these systems is $60,000, which is approximately what you’ll have to pay for a normal power plan from Duke Energy.

However, you’re incentivized to install a larger system. The larger the system, the greater the reward, up to a 10 kW system. So, if you’re looking to install a system that generates 10 kW or more, you’ll want to sign up for the Solar Incentive.

How Do I Know If The System Is Worth It?

One of the major drawbacks of any renewable energy system is that you cannot predict how much power it will generate. This is especially problematic if you’re installing one at home, where you want to use the energy produced. So it’s important to determine how much power your system will generate before you commit to installing one.

Duke Energy provides a useful snapshot of your system’s output by displaying a kilowatt-hour (kWh) meter on its website. Simply enter your system’s information—size, type, orientations, etc.—and the website will project a graph depicting your system’s output over time. This feature alone makes it worth the effort to register for the Solar Incentive.

How Many Kilowatt-Hours (kWh) Can My System Generate?

Your system’s kWh capacity determines how much energy you will produce over a given period of time. For example, a 1 kW system can produce up to 1kW per hour, so it will generate 1,000 watts per hour. Your system’s kWh capacity depends on several factors, including the size of your battery, how many solar panels you have attached to the roof, and your area’s sunlight.

Generally, the bigger your system, the greater its kWh capacity. However, the opposite is also true: the smaller your system, the greater its kWh capacity. If you’re looking to maximize your system’s kWh capacity, then you’ll want to consider installing a small system. The reason being is that larger systems require more energy to power them. In other words, the larger your system, the greater your carbon footprint. This is another reason why you should consider opting for a smaller system. Plus, if you’re looking for a system that’s easy to maintain and has a minimal impact on the environment, then you should go for a small system.

To give you an idea of what your system’s kWh capacity is, Duke Energy offers a useful tool known as the Energy Genesys Client Virtual Office (EVO). Simply enter your system’s information—size, type, orientations, etc.—along with an email address and the Virtual Office will email you a link to the tool with a projected graph depicting your system’s output over time. The tool also provides an overview of how your system’s energy consumption compares to other similar systems across the country. This feature alone makes it worth the effort to register for the Solar Incentive.

As previously stated, renewable energy sources are intermittent and unpredictable, which presents a major problem for those who want to use them. This is where batteries come in. When paired with solar technology, they can store energy produced during peak hours and use it later when needed. This feature alone makes them worth the investment.

What Are Batteries?

Batteries are required to run all sorts of electrical equipment, from small appliances to laptops and cell phones. They are available in a variety of sizes and voltages, meaning they can store different amounts of energy. The bigger the capacity, the more expensive they are. This is why larger batteries are generally more expensive than smaller ones. Even so, it’s still possible to find a large battery for a decent price if you know where to look. Batteries are also environmentally friendly, as they don’t emit any harmful gases during operation.

What Is The Difference Between Them?

There are several important differences between different types of batteries. For example, rechargeable batteries can be refilled and reused, whereas non-rechargeable batteries can’t. The former are also known as ‘lithium-ion’ batteries or ‘Li-Ion’ batteries for short. Finally, non-rechargeable batteries are generally more powerful than their rechargeable counterparts. The reason being is that they can handle a greater amount of energy. This is why engineers use them whenever they need massive amounts of power. While rechargeable batteries can be found anywhere, non-rechargeable batteries are typically manufactured to extremely high standards and are very expensive to purchase individually.

How Do I Store And Recharge My Batteries?

Now that you have a working battery, you need to learn how to store it and recharge it. There are different methods for doing this, depending on the capacity of your battery. If you have a smaller capacity battery, then you can use it more frequently. In other words, the less expensive and larger the battery, the less you’ll have to charge it and the more you’ll use it. So if you’re looking for a cheap and easy way to store energy, then a smaller battery is the way to go.

If you have a larger capacity battery, then you need to learn how to store it more efficiently. The best way to do this is by using an inverter. An inverter is a device that converts direct current (DC) into alternating current (AC) and vice versa. It is used to “invert” the power produced by a DC source, such as a solar panel. This is important because most appliances and electronics operate on AC power, so they need to be connected to an inverter to work. Even so, you should still learn how to charge your battery without the inverter, as it is possible to do so manually.

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