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What will the system cost?Unusual to most of your other home appliance purchases, a PV System Installation will be unique to your home site, power consumption, and level of system that you can afford.

As a general rule of thumb PV System cost installed is approximately $10.00 per Watt excluding permit fees. For larger systems the cost will be lower approximately $7.00 per Watt.

Tax Credits: These are Tax Credits, that means if you can’t claim all of the credit this year it can be carried forward to the succeeding tax year.

Federal: 30% of the cost of the system and installation up to $2000 for Photo Voltaics, another $2000 for solar hot water heating, and $500 per 0.5kW for fuel cells.

North Carolina: 35% of the cost of the system and installation up to $10,000 for Solar Electric Photovoltaics, $3,500 for Solar Space Heating alone, or combined with Solar Hot Water Heating, $1,400 for Solar Hot Water Heating alone, and $2,500 for all Solar, Wind, Hydro, and Biomass on commercial a facility.

Tax credits may not exceed 50% of the taxpayer’s liability for each year and can be carried forward for up to 5 years for Single Family Dwellings. All other properties must use the credit in 5 equal yearly installments.



Cost Calculator

Your system will pay for itself in less than 10 years. The panels have a guaranteed output for 25 years. That means you get free power for 15 years. These calculations do not take in to consideration Net Metering, which will accelerate your payback time. That’s why I say, don’t do it to help Global Warming do it because it will save you a bundle of money.

System cost to replace the power
bill of an average 1400sqft home		$22,000
Less Federal Tax Credit-$2,000
Less NC Tax Credit-$10,000
Your Final Cost$10,000

Pay Back Calculator
Average annual power bill savings$1,000


Net Metering



Net Metering is a program with the power company that accepts power from your PV system allowing your meter to spin backwards when it produces a surplus of electricity, and forwards when your house has a demand for electricity. This in effect will cancel out many of the kilowatt-hours charged to your bill significantly reducing it. If your system produces more than used in any given month you will be credited for the excess on the next bill. There is a great incentive here to purchase and have your system installed as soon as possible. Duke Energy is offering this program on a first come first serve basis and will not issue anymore Interconnection Agreements after 0.2% of total customer usage has been exceeded. So the moral of the story is if you can afford it, or get a loan for it do it now.

For more information, visit Duke Power here



Time Of Use Option (TOU)



With the Time of use option you will paid for (or credited for) your PV output during Peak Demand Hours, which translates to earning 75% more for your PV output than during of peek hours when you system is producing less or not at all.

For more information, visit Duke Power here
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