Nc Solar Panel Credit

North carolina no longer offers state solar tax credits.

Nc solar panel credit.

The program provides rebates of 60 per watt for homeowners so a typical 5 kw system at an average cost before rebate of 3 per watt would cost around 12 000 instead of 15 000. The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing. North carolina s solar rebate program covers all customers of duke and duke energy progress. An average 6 kilowatt kw system would be eligible for a rebate of 3 600.

As of september 2020 the average solar panel cost in north carolina is 2 73 w. You can claim the credit for your primary residence vacation home and for either an existing structure or new construction. Considering installing solar panels at your home in north carolina. Given a solar panel system size of 5 kilowatts kw an average solar installation in north carolina ranges in cost from 11 602 to 15 698 with the average gross price for solar in north carolina coming in at 13 650.

There may still be other local rebates from your city county or utility. After accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price you ll pay for solar can fall by thousands of dollars. Duke energy solar panel rebates duke energy offers rebates to north carolina customers who want to install a solar panel system. All of north carolina can take advantage of the 26 federal tax credit which will allow you to recoup 26 of your equipment and installation costs for an unlimited amount.

As a credit you take the amount directly off your tax payment rather than as a deduction from your taxable income.