*This content is sponsored by Renu Energy Solutions*
This week, we're joined by Brandon, Rachele and Hannah of Carolina-based Renu Energy Solutions. Together, we're trying to give you some insight on solar, its affordability and how you can make a change for your energy future.
If you're unsure about solar power and how that will help you with your energy bill, the folks from Renu Energy Solutions are here to answer all of your questions.
How Do Solar Panels Work?
- The sun’s rays are collected by the Photovoltaic (solar) panels. The panels create DC power, which is sent to the inverter.
- The inverter converts the DC power to AC power, which is the type of power your home can utilize. The AC power is fed to the main meter panel.
- Your home consumes the AC power generated by your solar system. Any excess power is sent back to the utility producing a monetary credit.
How Do Solar Panels Save Me Money?
The energy that solar panels produce first goes directly for your home use, thus directly lowering your bill. During the day, many customers produce more energy than they use so the excess energy is sent into the grid. The utility credits you for that excess energy via a Net Metering model which conceptually can be thought as a ‘rolling back’ for your meter. In this model, customers may pay $0 for their energy use in any given month as the excess energy produced during the day pays for the energy consumed at night.
Solar Power in North Carolina
Duke Energy Carolinas has proposed a $62 million solar rebate program for Duke Energy Carolinas and Duke Energy Progress customers in North Carolina.
As of April 2018, this program is currently being finalized and received approval by state energy regulators in a ruling dated April 3, 2018.
The proposed residential rebate is 60 cents on every Watt (AC) of solar power. The rebate proposal has received the approval of the North Carolina Utilities Commission (NCUC). Complete program details are expected to come out later in April 2018. For many Duke Energy Carolinas and Duke Energy Progress customers who go solar, this proposed rebate will mean thousands of dollars back from Duke Energy Carolinas and Duke Energy Progress.
The residential upper limit per project for collecting the incentive is 10 kiloWatts (AC) (or up to $6,000), and the non-residential incentive will be applicable up to 100 kiloWatts (AC) (or up to $50,000). Projects can still be installed larger than that, but the incentive will only extend to the approved size.
Solar Power in South Carolina
For South Carolina Customers in South Carolina Electric and Gas Company’s (SCE&G) territory, you are eligible for a special solar program that pays you $0.04 cents for ever hour of solar that you overproduce, on top of the 1-to-1 credit you would normally receive through your interconnection agreement with the utility.
How this works: When your home is producing power during the day, excess energy is sent to the grid. The utility gives you a credit equivalent to the amount that you export. At night, when you are drawing power from the grid, you first use up all your credits before you would start buying from the grid. With this special program, you would receive a bonus credit of 4 cents per kilowatt-hour.
Effectively this means the utility charges you 13 cents for one kilowatt-hour. They’ll credit you 17 cents for putting the same amount on the grid.
About Renu Energy Solutions
Renu Energy Solutions has been installing solar and energy efficient solutions since 2010. Headquartered in Charlotte, NC, Renu serves customers in North Carolina, South Carolina and Virginia. Renu has installed over 900 energy efficient systems including over 300 solar electric and solar thermal solutions.
Renu Energy is a full-service solar installer. That means we provide end-to-end service from solar consultation through installation and support. Our team lives in North Carolina and South Carolina – we are invested in our community and invested in our customers for the longterm.
Renu combines solar energy expertise with a local presence. Our solar experts advise individuals, companies, and nonprofits located across the country from Hawaii to North Carolina. Additionally, we are committed to our neighbors in the Carolinas as this is where we make our home. As your neighbor, you can be assured that the Renu experience means:
- No heavy-handed sales tactics
- Honest, smart assessment of the suitability of solar for you
- A dependable partner, long after the sale is completed