2023 Solar Incentives Guide for Granite Falls, NC - Tax Credits & Rebates

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

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2023 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 Granite Falls solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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 Granite Falls?

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

Duke Energy (Electric) - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Central Air Conditioning or Heat Pump: $300 - $400 + $50 with added smart thermostat
Geothermal Heat Pump: $400 + $50 with added smart thermostat
Heat Pump Water Heater: $350
Attic Insulation or Attic Air Sealing: $250
Duct Sealing: $100
Variable-Speed Pool Pumps: $300

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.

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 term "solar incentives" refers broadly to financial incentives put in place by solar companies and the government to encourage people to use renewable energy by making installing and using solar panels more affordable. You might be eligible for different kinds of incentives, including discounts, cash back or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the state of North Carolina and others from the federal government. Types of solar incentives might include:

  • Net Metering: Don't forget to talk to your Granite Falls utility company about signing a net metering contract. This will allow you to receive credit towards your utility bill every month for the value of excess energy your solar panels generate. You might receive either a dollar-for-dollar credit or a percentage of the value.
  • Tax Credits: Tax credits reduce, dollar-for-dollar, how much income tax you owe the government. Tax credits differ from tax deductions.
  • Rebates: Rebates, or partial refunds after a purchase, are usually given before any solar tax credits are calculated. Rebates might be given by your local utility company, by your county or by your state.
  • Tax Exemptions: Sales tax exemptions are effective at the point of sale for your solar system. Property tax exemptions allow you to ignore the value that your solar panels add when you calculate how much property tax you need to pay on your house.
  • Solar Renewable Energy Certificate (SREC): Generally, solar systems that produce over a threshold (normally small) amount of electricity can qualify for SRECs or similar performance-based incentives. SRECs and similar incentives are typically provided by your state government. SRECs can be sold to your utility company or another buyer, and the money you receive is normally considered part of your taxable income.

Federal Solar Incentives

When you think about solar incentives, you likely think of federal incentives first. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a predetermined percentage of your solar system's cost.

The ITC can be applied to the total cost of installing a solar system, including the panels themselves as well as accessories, equipment and labor. You can claim this credit for panels installed after January 1, 2006 on a primary or secondary residence that you own and that is located in the United States. From its original value of 30% of the total cost, the credit has fluctuated slightly between 26-30%, and you may qualify for varying percentages depending on when your project was completed. There is no maximum amount you can claim.

Have questions about how the ITC applies to your specific situation? Reach out to your local Granite Falls solar panel installation expert to get more information.

The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as renaming it to the Clean Energy Credit). Under the new program, solar installation projects that are completed between 2022 and 2032 can qualify for a 30% tax credit. The amount of the credit will then see a slight annual decrease until the current Clean Energy Credit expires in 2035. Beginning in 2023, it will also be easier to obtain credits for energy storage systems with the new act.

More information about the new Inflation Reduction Act can be found here. Your local Granite Falls solar panel installers are the best people to answer your questions about the new Clean Energy Credit and how it will apply to you.

State & Local Solar Incentives

There are more than just federal solar incentives; rebates, tax credits and more are often offered at the state and local level. These incentives might be handled by the North Carolina government, or by your county or municipality. Certain incentives are ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Granite Falls

Solar energy use nationwide has gone up significantly in the last 15 years, in part due to the increase in availability of solar incentives. You can obtain these incentives from your local utility company, the federal government or the North Carolina government. Your local Granite Falls solar panel installation company can provide you with more details about which incentives you may qualify for, and get you feeling good about making the change to renewable energy today.

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 (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

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

EcoWatch's Granite Falls, NC Solar Incentives FAQs

How much can I save annually on my electric bill if I add solar panels to my house in Granite Falls?

Typically, homeowners in Granite Falls who install solar panels save around $941.45 per year, or around $17,887.56 over 20 years after making the switch.

What are some of the environmental benefits of switching to solar?

You can lower your carbon footprint by 300 pounds of CO2 a year by installing solar panels. This adds up to around 6,000 pounds in 20 years. Solar is also a renewable energy source, meaning that making the switch reduces the drain on our planet's resources.

I want to change out my appliances for ones that are more energy-efficient. Are there any incentives I can claim?

The new Inflation Reduction Act provides a number of incentives that reward homeowners for making eco-friendly upgrades. Some of these incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.

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

The order in which incentives are applied may vary depending on which incentives you are eligible for but in most cases yes, you can claim multiple types of incentives for your solar project. Speak to your solar installer or a local tax professional to verify you are claiming all possible incentives and applying them in the correct order.

Can I use a combination of solar and another type of renewable energy to power my home?

Yes, you can utilize multiple types of renewable energy to power your home, such as a combination of wind and solar. You can also use both renewable energy sources and a non-renewable backup source of energy. Make sure that you discuss your proposed plan with your local Granite Falls solar installation expert, to make sure you know what you'll need and what incentives you may or may not qualify for.

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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