2024 Solar Incentives Guide for Goldsboro, NC - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Goldsboro.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2024 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 Goldsboro solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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

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

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

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

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

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/


The phrase "solar incentives" broadly refers to financial incentives implemented by the government and by solar companies to encourage people to use renewable energy by making installing and using solar panels more affordable. Incentives could include things like discounts, cash back or credit towards your monthly utility bill. Some incentives are provided by the federal government, while others are offered by the state of North Carolina or by your utility company, county or municipality. You might qualify for any of the following types of solar incentives:

  • Net Metering: Net metering factors in after your solar system is up and running. If you have in place a net metering agreement with your Goldsboro utility company, it will subtract the value of the excess energy your solar system produces from your utility bill each month. In some areas, this is a dollar-for-dollar credit, while in other areas you may receive a refund equivalent to a percentage of the value.
  • Solar Renewable Energy Certificate (SREC): SRECs and other performance-based incentives are generally handled by your state government. Once your solar system meets a predetermined threshold (typically a small amount of energy production), you are eligible to receive SRECs that can then be sold to your utility company or other buyers. The money you receive is generally considered part of your taxable income.
  • Rebates: A solar rebate is a partial refund given after you've purchased your solar panels. These may be offered by your local utility company, your state or your county. The cash back that you get from the rebates is normally applied before calculating tax credits.
  • Tax Exemptions: Your solar system could qualify for both sales tax and property tax exemptions. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions allow you to ignore the added value of the solar panels when calculating property taxes on your house.
  • Tax Credits: Tax credits decrease, dollar-for-dollar, the total amount of tax you owe the federal government. These differ from tax deductions.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

Federal Solar Incentives

When people think of solar incentives, federal incentives are likely the first thing that comes to mind. The Federal Solar Investment Tax Credit, or ITC, is probably the best-known federal solar incentive. The ITC allows you to claim a tax credit for a specific percentage of the cost of your solar system.

The ITC covers solar systems installed after January 1, 2006, and under this program you can deduct from your taxes a percentage of the total cost of solar panels, accessories, labor and equipment. You can receive this credit for solar panels installed on a primary or secondary residence in the United States that you own. The original claim amount was 30% of the total cost, although certain projects may qualify for only 26%, depending on the details. There is no maximum amount you can claim.

Your local Goldsboro solar panel installer can offer more information about the ITC and how it may apply to your situation.

In August 2022, the ITC (now titled the Clean Energy Credit) was expanded and extended by the passing of the Inflation Reduction Act. The Clean Energy Credit has increased the current credit up to 30% for solar systems installed between 2022 and 2032. After 2032, the percentage will be reduced slightly each year until the program expires in 2035. Starting in 2023, it will also be easier to qualify for credits for energy storage systems with the new act.

Click here to learn more about the new Inflation Reduction Act. To better understand how the new Clean Energy Credit might apply to you, get in touch with your local Goldsboro solar installers.

State & Local Solar Incentives

Rebates, tax credits and more might be provided at multiple levels. Along with federal solar incentives, there are often state and local ones as well. Incentives might be handled by your county or municipality, or by the state of North Carolina. Certain incentives may be available for only a limited time, while others are ongoing.

Next Steps for Installing Solar in Goldsboro

Solar incentives may come from the North Carolina government, the federal government or your local utility company. The large number of available incentives has contributed to a large increase in solar energy use in the last 15 years. If you're ready to make the change to solar energy, calling your local Goldsboro solar panel installation expert is an excellent place to start.

EcoWatch's Goldsboro, NC Solar Incentives FAQs

If my house already has solar panels, can I still claim incentives?

If your solar panels were installed after January 1, 2022, you may qualify for the newly increased 30% tax credit under the Inflation Reduction Act. If you had your system installed between 2006 and 2021, you might qualify for a tax credit between 26% and 30%, depending on the exact installation date. Speaking with a representative from the company that installed your system, or any local Goldsboro solar installer, can help you understand what incentives you might want to apply for.

When does the federal solar tax credit end?

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

Can I apply for incentives both towards the up-front cost of solar panels, and later as reimbursement?

Yes, you can claim both tax credits and rebates towards the cost of solar panels. Depending on which incentives you are applying for, they may apply in a different order. Be sure to talk to your solar installer or a local tax professional to confirm that you are claiming the correct incentives and getting the most money possible.

Can I get any financial incentives when I add solar panels to a rental property, vacation home or commercial property?

While we recommend speaking with your local solar installer and/or tax professional to better understand what solar incentives apply to you, many can be claimed on a second home, so long as that home is in the United States and owned by you. There may be other incentives available specifically for commercial properties, depending on the details.

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.

Follow us