Duke Energy Progress is launching an affordable option for customers that will enable them to share in the economic benefits from the output of a single solar facility – providing customers another choice that will continue to grow renewable energy in South Carolina.
The Shared Solar Program is available to all qualified Duke Energy Progress residential and nonresidential customers including those who hold tax-exempt status, those who live in multifamily housing or rent homes, and those who may not otherwise have access to solar energy.
"This is a great program for any customers who don't own their residence or are unable to put a solar facility on their property," said Kodwo Ghartey-Tagoe, state president for Duke Energy in South Carolina. "We estimate that residential customers will earn back their initial payment in credits from the solar array in three years. Customers are not only saving on their electric bill, they are directly supporting a renewable energy future in South Carolina for generations to come."
How does shared solar work?
Participants in the program will pay a monthly subscription fee of $6.25 a kilowatt in addition to initial fees to join the program. These program costs are in addition to the customer's regular energy bill.
The monthly fee funds the customer's share of supporting the operation of a solar facility. By subscribing to the Shared Solar Program, the customer will receive a monthly credit from Duke Energy Progress equal to the amount of solar energy the customer's share produced.
Participating in this program will not impact customer usage or the way they pay their bill.
For qualified low-income customers, Duke Energy Progress will waive the application cost and initial fees, a $120 value. Customers should contact their local community action agency for assistance determining eligibility.
Growing solar in South Carolina
The Shared Solar Program is a result of the historic collaborative effort in South Carolina to grow solar jobs and give customers choices as to how they live their energy future.
As a result of Act 236 – landmark legislation passed by South Carolina's General Assembly in 2014 – Duke Energy and its customers have helped make South Carolina one of the country's greatest success stories for renewable energy. More than 5,000 of the company's South Carolina customers have installed solar panels on their homes and businesses, and in 2017, South Carolina jumped to No. 8 in the country for the amount of solar installed during the year.
Act 236 provided a framework for customers to install solar on their homes and businesses through strategic programs like the net metering incentive and rebate offerings. In addition to the net metering incentive, the company has provided more than $50 million in rebates as an extra incentive for customers who wanted to go solar across its South Carolina footprint.