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

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

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 Henderson 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 Henderson?

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" covers a wide range of financial incentives designed to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Solar 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 North Carolina government and some by your utility company, county or municipality. Types of solar incentives might include:

  • Solar Renewable Energy Certificate (SREC): SRECs and other similar performance-based incentives are usually handled by your state government. Once your solar panel system meets the qualification threshold (typically a small amount of energy production), you are eligible to receive SRECs that you can then sell to your utility company or other buyers. The money you make is generally considered part of your taxable income.
  • Net Metering: Be sure to talk to your Henderson utility company about signing a net metering agreement. This allows you to get a credit towards your monthly utility bill for the value of excess energy your solar panels generate. You may receive either a dollar-for-dollar credit or a percentage of the value.
  • Tax Exemptions: Tax exemptions can come in one of 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 exclude the added value of your solar system when paying property tax on your home.
  • Rebates: Rebates, or partial refunds after a purchase, are normally given prior to any solar tax credits being calculated. Rebates can be given by your local utility company, by your state or by your county.
  • Tax Credits: Tax credits are dollar-for-dollar reductions that lower the amount of income tax you owe the federal government. (This is different from a tax deduction.)

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 you hear the term "solar incentives," federal incentives might be the first thing that comes to mind. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a percentage of your solar system's cost.

The ITC originally covered 30% of the cost of solar system installation, and has fluctuated slightly over time between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The cost of installation includes the panels themselves as well as the cost of equipment, accessories and labor. There is no maximum amount you can claim. The ITC applies to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be owned by you and in the United States.

Your local Henderson solar panel installation expert can provide you with more information about the ITC and how it may apply to your situation.

In August 2022, the Inflation Reduction Act made revisions to the ITC, now referred to as the Clean Energy Credit. The new Clean Energy Credit is valid until 2035. Homeowners can now apply for a 30% credit for solar systems installed between January 1, 2022, and December 31, 2032. The credit will then be decreased by a few percentage points every year until it expires. The expansion also makes credits for energy storage systems even easier to claim, starting in 2023.

More information about the new Inflation Reduction Act can be found here. The easiest way to learn more about how the new Clean Energy Credit applies to you is to get in touch with your local Henderson solar panel company.

State & Local Solar Incentives

Some solar incentives are often also provided by state and local governments. Like with federal incentives, these may include rebates, tax credits and more. These incentives may be offered by your county or municipality, or by the North Carolina government. Certain incentives are available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Henderson

Solar incentives may come from the North Carolina government, the federal government or your local utility company. The large number of incentives available has facilitated the nationwide growth of solar energy use in the last 15 years. Speak with your local solar panel installer today to discover more about the various programs and to save as much money as possible on solar panels for your Henderson home.

EcoWatch's Henderson, NC Solar Incentives FAQs

I already have solar panels. Do I qualify for any incentives?

If your solar system was installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If your system was installed between 2006 and 2021, you might qualify for a tax credit between 26% and 30%, depending on the date of installation. Reaching out to the company that installed your solar system, or any local Henderson solar installer, can help you learn what incentives you qualify for.

How much will solar panels save me on my electric bill in Henderson annually?

Generally, homeowners in Henderson who install solar panels save about $989.82 per year, or around $18,806.63 over 20 years after they make the switch.

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

Solar energy is a renewable energy source — by changing where you get your energy, you can help lessen the strain on our planet's resources. Solar panels can also reduce your home's CO2 emissions by 300 pounds yearly, or around 6,000 pounds over 20 years.

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

The order that incentives will be applied in may vary depending on which incentives you are claiming but generally yes, you can receive multiple types of incentives for your solar project. Check with your solar installer or a local tax professional to confirm you are claiming all possible incentives and applying them in the correct order.

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

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

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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