2022 Solar Incentives Guide for Bayshore, NC - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Bayshore. You'll learn about:
  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2022 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Bayshore solar installers to see how much you can save.

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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What Solar Tax Credits, Incentives, and Rebates are Available in Bayshore?

Duke Energy - NC Solar Rebate Program

Incentive Type:
Rebate Program
Residential: $0.60/W-AC
Nonresidential: $0.50/W-AC
Nonprofit: $0.75/W-AC

Property Tax Abatement for Solar Electric Systems

Incentive Type:
Property Tax Incentive
Residential systems: 100% of the appraised value
All other systems: 80% of the appraised value

Active Solar Heating and Cooling Systems Exemption

Incentive Type:
Property Tax Incentive
No more than conventional equipment

EnergyUnited (Electric) Residential Energy Efficiency Program

Incentive Type:
Rebate Program
Heat Pumps (15 SEER): $150/unit
Heat Pumps (16 SEER): $300/unit

NC GreenPower Production Incentive

Incentive Type:
Performance-Based Incentive
Varies by technology and system size
PV larger than 5 kW: must enter bid process
Wind up to 10 kW: $0.09/kWh
Wind larger than 10 kW: must enter bid process

Local Option - Financing Program for Renewable Energy and Energy Efficiency

Incentive Type:
Loan Program

Local Option - Green Building Incentives

Incentive Type:
Green Building Incentive
Authorized by legislation for green buildings. Actual permit process to be determined by local government.

Duke Energy Progress - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Central A/C or Heat Pump: $300 - $400 + 50 with smart thermostat
Geothermal Heat Pumps: $400 + 50 with smart thermostat
Heat Pump Water Heater: $350
Attic Insulation & Air Sealing: $250
Duct Sealing: $100
Pool Pump: $300

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


Solar incentives are intended to make renewable energy usage more affordable via financial incentives to help people install solar panels on their homes. These incentives could include upfront discounts, cash back or monthly credits towards your utility bill. Some incentives are offered by the federal government, some by the state of North Carolina and some by your utility company, county or municipality. Categories of solar incentives include:

  • Tax Credits: Tax credits reduce, dollar-for-dollar, the amount of income tax you owe the government. These are different from tax deductions.
  • Tax Exemptions: Tax exemptions can come in two forms. The first is sales tax exemption, which is applied when you purchase solar panels. The second is property tax exemption. This allows you to ignore the added value of your solar system when paying property tax on your home.
  • Rebates: A rebate is a partial refund after the purchase of your solar system. Rebates could be offered by your local utility company, your county or your state. The discount that rebates offer is normally applied to the price of solar panels before tax credits are calculated.
  • Net Metering: Net metering factors in once your solar panels are up and running. If you have a net metering agreement with your Bayshore utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some areas, this credit is dollar-for-dollar, while in others you might receive a refund equivalent to a percentage of the value.
  • Solar Renewable Energy Certificate (SREC): SRECs and similar performance-based incentives are usually handled by your state government. Once your solar system meets a certain threshold (usually a small amount of energy production), you are eligible to receive SRECs that can be sold to your utility company or other buyers. The money you make from the sale is generally considered part of your taxable income.

Federal Solar Incentives

Federal solar incentives are likely the first thing that comes to mind when thinking about solar incentives. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a certain percentage of the cost of your solar system.

The ITC can be applied to a solar system installed on your primary or secondary residence in the United States. The solar panels have to have been installed after January 1, 2006 on a property you own for you to claim the credit. Initially, the ITC applied to 30% of all costs (panels, labor, equipment and accessories), although this amount has fluctuated slightly over the years between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the claim amount.

Wondering how the ITC applies to your specific situation? Get in touch with your local Bayshore solar panel installation expert to get more information.

In August 2022, the ITC (now titled the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. The Clean Energy Credit is valid until 2035. Your solar installation project undertaken between 2022 and 2032 may qualify for a 30% tax credit. This amount will be decreased slightly on a yearly basis until the current program ends. The expansion to the program also makes credits for energy storage systems even easier to claim, starting in 2023.

Click here to learn more about the new Inflation Reduction Act. Your local Bayshore solar panel installation experts can answer your questions and explain how the new Clean Energy Credit will apply to you.

State & Local Solar Incentives

In addition to those provided at the federal level, there are often also state solar incentives. Rebates, tax credits and more may be available at a more local level. Some incentives are ongoing, while others are only available for a limited time. Solar incentives may be provided by your county or municipality, or by the North Carolina government.

Next Steps for Installing Solar in Bayshore

There are many types of solar incentives: those provided by local utility companies, those provided by the North Carolina government and those provided by the federal government, to name a few. Solar energy use has grown tremendously in the last 15 years, thanks to these incentives. Call your local solar panel installation expert today to learn more and to save as much money as possible on solar panels for your Bayshore home.

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Outstanding Regional Installer

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EcoWatch's Bayshore, NC Solar Incentives FAQs

What if I add solar panels to a vacation home, rental property or commercial property? Do I still qualify for incentives?

Many solar incentives apply to a property you own that is located within the United States; most secondary residences fall into this category. There may be other solar incentives available for commercial properties, depending on the specifics. We recommend talking to your local solar installer and/or tax professional to fully understand what incentives will apply to your specific situation.

My home already has solar panels. Do I qualify for any incentives?

You should plan to talk to the company that installed your solar system — or speak to a local Bayshore solar installer — to learn about which incentives you may qualify for. If your system was installed after January 1, 2022, you likely qualify for the newly increased 30% tax credit under the Inflation Reduction Act. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

When does the federal solar tax credit end?

The Clean Energy Credit (previously called the federal solar tax credit, or ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.

If I switch my appliances out for ones that can use solar energy, are there credits that I can claim?

The recently passed Inflation Reduction Act introduces several incentives designed to reward homeowners for making eco-friendly upgrades. Some incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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