Considering the upcoming changes to Duke Energy’s net metering program, North Carolina residents should strongly consider going solar before October 1st. Here’s why:

Duke Energy is piloting a change to the net metering program that will add different fees for new customers who go solar after October 1, 2023. The new net metering program will also introduce a modified net metering structure and a secondary time-of-use rate plan with a new billing system. These changes are still developing, but what we do know is that going solar now will give you the best opportunity to control the value of the energy your system produces in this new era of solar in North Carolina.
Modifications to Duke Energy’s North Carolina solar net metering policy are scheduled for this October, emphasizing the pressing need for North Carolina homeowners to adopt solar power before the impending deadline. Net metering is not disappearing altogether in North Carolina. However, it is set to undergo some significant alterations .On March 23, 2023, changes to Duke Energy’s North Carolina solar net metering policy were officially sanctioned. Existing solar customers will not experience alterations to their net metering until the year 2027. For new solar customers, the crucial deadline to secure grandfathering into the current net metering framework is October 1, 2023 (Please note that this deadline was recently extended from July 1st).

If you are considering going solar, the best time to go solar is right now so you will be grandfathered into the current net metering structure (and take advantage of the renewed 30% Federal Tax Credit for solar).

What’s Changing with Net Metering in North Carolina in 2023

Current State of Solar Net Metering in NC

You may have heard by now that net metering is officially changing. After 20+ years as one of North Carolina’s oldest local solar installers, we’ve been through the many ups and downs the clean energy industry has to offer. Here’s the latest ride on the NC solar coaster — so buckle up and hold on tight! Before we dive into the new changes, let’s briefly look at the current state of net metering in North Carolina.

 

Changes for homes going solar by October 1, 2023:

Solar projects with interconnection applications submitted to Duke Energy before October 1st, 2023, will be eligible for the legacy net metering program until 2027.

Starting on January 1, 2027, these solar customers will transition to a modified net metering rate for 12 years, followed by a switch to the new Time of Use (TOU) rate.

In 2027, a revised solar billing structure, including various fees, will also be introduced.

 

Changes for homes going solar after October 1, 2023:

Legacy net metering will no longer be an option for customers adopting solar after this date.

A fresh set of fees will be imposed on customers who decide to go solar after October 1, 2023.

New solar customers will be required to select between a modified net metering rate or the new Time of Use (TOU) rate.

Determining the optimal rate option will hinge on various factors, such as whether you have energy storage batteries, your energy consumption patterns, ownership or plans for an electric vehicle, lifestyle habits, and more.

How Do Net Metering Credits Work Right Now?

Currently, Duke Energy employs a unique “bi-directional” meter, which records instances when your solar system feeds surplus energy into the utility’s grid. The energy you contribute to the grid is then credited to your account, serving as a reserve to draw from when your solar system isn’t generating sufficient power for your entire home—during nighttime or inclement weather, for instance. This surplus energy effectively transforms the grid into a storage system for your solar array!

What Is The Significance Of Solar Net Metering?

In the current North Carolina context, solar net metering stands out as the most advantageous interconnection policy for solar energy due to its provision of a genuine 1:1 credit for your solar power generation. This arrangement enables homeowners to maximize the value derived from their solar systems. In contrast, alternative interconnection policies like buy-all-sell-all or buy-all-sell-excess, as well as time of use rates (TOUs), provide compensation to homeowners for their surplus solar energy at a reduced, wholesale rate compared to their electricity purchase rate.

Living in North Carolina? Go solar today and unlock your savings>>