2025 Solar Incentives Guide for Mooresville, NC - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Mooresville.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
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What Solar Tax Credits, Incentives, and Rebates are Available in Mooresville?
Duke Energy - NC Solar Rebate Program
Nonresidential: $0.50/W-AC
Nonprofit: $0.75/W-AC
Property Tax Abatement for Solar Electric Systems
All other systems: 80% of the appraised value
Active Solar Heating and Cooling Systems Exemption
EnergyUnited (Electric) Residential Energy Efficiency Program
Heat Pumps (16 SEER): $300/unit
Duke Energy (Electric) - Residential Energy Efficiency Rebate Program
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
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
Local Option - Green Building Incentives
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" refers broadly to financial incentives designed to encourage the adoption and use renewable energy by making the installation and use of solar panels more affordable. These incentives might include cash back, upfront discounts or credit towards your monthly utility bill. Some incentives are handled by the federal government, some by the North Carolina government and some by your specific utility company, county or municipality. Types of solar incentives might include:
- Solar Renewable Energy Certificate (SREC): SRECs are credits that can be sold to your utility company (or other buyers) for money that is generally considered part of your taxable income. Typically, you must meet a certain (small) threshold of energy production before your solar system is eligible for SRECs or similar performance-based incentives. These kinds of incentives are generally handled at the state level.
- Rebates: Solar companies may help you claim a rebate, or partial refund after purchase, for your solar system. Counties or states will also offer limited-time rebates at various times. The value of a rebate will usually be deducted from your total price before tax credits are calculated.
- Net Metering: Net metering becomes relevant after your solar system is up and running. If you've signed a net metering agreement with your Mooresville utility company, the company will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some places, this is a dollar-for-dollar credit, while in other areas you might make back a percentage of the value.
- Tax Exemptions: Tax exemptions may come in one of two forms. The first is sales tax exemption, 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.
- Tax Credits: Unlike tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the government.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Federal Solar Incentives
When someone says "solar incentives," you likely think of federal incentives first. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a certain percentage of the money you spend on your solar system.
The ITC applies to a solar system installed on your primary or secondary residence in the United States. The solar system must have been installed after January 1, 2006, on a property you own for you to be eligible for the credit. The ITC originally paid out 30% of all installation 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 amount you can claim.
To find out exactly how much the ITC could save you, talk to your local Mooresville solar panel installer.
The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as retitling it the Clean Energy Credit). The new Clean Energy Credit now runs until 2035. American homeowners are now eligible for a 30% credit for solar systems installed between 2022 and 2032. This credit will then be decreased by a few percentage points every year until it expires. Starting in 2023, the program expansion will also make credits for energy storage systems even easier to claim.
More information about the new Inflation Reduction Act can be found here. The best way to learn more about how the new Clean Energy Credit applies to you is to reach out to your local Mooresville solar panel installation expert with your questions.
State & Local Solar Incentives
Some solar incentives are often also offered at the local or state level. Similar to federal incentives, these might include rebates, tax credits and more. These incentives may be offered by your county or municipality, or by the North Carolina government. Some are ongoing, while others are available for a limited time.
Next Steps for Installing Solar in Mooresville
Nationwide solar energy use has increased enormously in the past 15 years, in part thanks to the proliferation of solar incentives. You may get these incentives from your local utility company, the North Carolina government or the federal government. If you're prepared to make the change to solar energy, talking to your local Mooresville solar panel installation expert is an excellent place to start.
EcoWatch's Mooresville, NC Solar Incentives FAQs
What are the environmental benefits of switching to solar energy?
Solar energy is renewable — by switching where you get your energy, you help lessen the strain on our planet's resources. You can also lower your home's CO2 emissions by 300 pounds yearly, or roughly 6,000 pounds over 20 years.
When does the federal solar tax credit end?
The Clean Energy Credit (previously referred to as the federal solar tax credit, or ITC), is scheduled to end 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 use solar energy, are there incentives I can claim?
The recently passed Inflation Reduction Act includes provisions for a number of incentives meant to reward homeowners who make eco-friendly upgrades. Some incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.
Can I claim incentives for adding solar panels to a vacation home, rental property or commercial property?
Many solar incentives are intended to apply to a property you own that is located within the United States, and most secondary residences will fall under this distinction. Other solar incentives may be available for commercial properties, depending on the specifics. We recommend getting in touch with your local solar installer and/or tax professional to better understand what incentives 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.