Is inflation driving you crazy? North Carolina residents expect a reasonable cost of living, but prices on everything from food to electricity and beyond are going up, up, up! If you’re looking for ways to save, you’re not alone… and you’re in luck.
Believe it or not, you can cut if not eliminate your electricity bill by tapping into natural North Carolina solar energy. You already love the warm sun that makes the Tarheel State paradise, so why not harness its full potential?
Keep reading to learn how it can help you save money, too.
1. There are North Carolina solar incentives
If you’re itching to go solar, North Carolina is an ideal state in which to live. There are several North Carolina solar incentives from the state government to help you afford a home energy system.
One awesome advantage of installing solar panels North Carolina residents love is higher property value. Yet, home-owners worry that value comes with raised taxes.
Lucky for them, North Carolina has a property tax abatement for solar electricity systems. That means you won’t pay taxes for the amount of property value added by installing solar panels.
Net metering is another state incentive. This policy lowers your electricity bill when your solar power system generates electricity you don’t use. The excess energy converts into a credit to your account.
If you’re a Duke Energy customer, you may qualify for a solar installation cash incentive from the company.
In some North Carolina counties and towns, as well as major cities like Asheville and Greensboro, solar panel installation comes with other rebates and credits. They vary across the state and may change, so it’s best to check in with your local government to take advantage.
2. Federal incentives help, too
The United States recently started making a concerted effort against climate change. It’s great news for planet Earth – but also for household energy needs and financial health. Throughout 2022, when installing solar panels, North Carolina residents and Americans throughout the country can receive a 26% federal tax credit.
Keep in mind that in 2023, the credit falls to 22%. In 2024 and beyond, only businesses get a 10% credit. Households will no longer get credits at that point, so make your move soon.
3. You’ll prepare yourself for North Carolina disasters
Coastal North Carolina is dreamy when it’s nice out, but there’s a trade-off. The whole state feels the impact of tropical storms that seem increasingly common every hurricane season.
Those who’ve lived through such rough weather are no strangers to blackouts that could last days. When your only source of electricity is the power grid, you’re lucky to have a generator. Even then, you have to be careful because gas generators emit toxic fumes.
When your main energy source is solar, North Carolina blackouts could be less harrowing. Even if your panels fail in severe weather, you can prepare by charging large batteries before storms and other disasters hit. Storing energy like that is cost-prohibitive on the electrical grid but is free when using solar power.
Clever facts and handy tips
These North Carolina solar facts will help you save on your electricity bills, prepare for disasters and lower your environmental impact.
With that worry off your mind, take some time to learn more helpful tips and facts on this site. Click on another of our great home and lifestyle articles to discover how to make more of your time and energy.
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