Progress Energy will soon pay its North Carolina customers up to $10,000 for installing rooftop solar panels on their homes.
The solar energy incentive, approved Monday by the N.C. Utilities Commission, will cut the cost of solar panels to as little as one-third, when combined with state and federal tax credits.
The Progress incentive will provide a significant financial discount to homeowners interested in using solar energy, said Brian Lips, a policy analyst at the N.C. Solar Center in Raleigh.
Raleigh-based Progress will begin offering the incentive program SunSense on Jan. 1. It will be available only to the electric utility's customers in this state.
The incentive will pay customers an upfront rebate of $1,000 per kilowatt capacity, depending on the size of the solar array, with the total rebate ranging between $2,000 and $10,000.
As part of the SunSense program, Progress is also offering a monthly bill credit ranging from $9 to $45, depending on the size of the solar array.
The rebates will be subsidized by all Progress customers in their bills.