Solar Panels Cost $7.8k-$15k in Oak Island, NC | October, 2024

Homeowners in the Haywood EMC service area may be entitled to special financing on energy efficiency improvements. Eligible projects for a loan will vary from time to time. Currently, loans may fund insulation/weatherization, windows, central/room HVAC, generators, water heaters, heat pumps, ENERGY STAR certified appliances, and new solar PV/HVAC/water heaters. The maximum available principal is $35,000 at variable APR. As of 2021, interest is 3.90% on a 120-month repayment plan. Standard credit checks apply. Additional information is available from the HEMC website.

Residential and business customers of the South River Electric Membership Corporation may be entitled to rebates on new solar water heaters. The rebate amount will depend on the size and rated capacity of solar collectors. To qualify, both the solar panels and the heating module should meet Solar Rating and Certification Corporation (SRCC) standards. The system should be interconnected to the grid and have safety controls to prevent both overheating and freezing. Once a customer purchases and installs their system, they have 90 days to schedule a final utility inspection and thus claim their rebate. Additional information is available from the SREMC website.

North Carolina has both a renewable portfolio standard and an energy efficiency portfolio standard; together, they are referred to as "REPS". As of 2021, standard benchmarks require at least 12.5% of the state's retail energy to be generated from renewable sources. At least 60% of standard investment must be through new renewable energy; the remainder can be used for energy efficiency projects. Carve-outs require renewable investment to include a required proportion of solar and poultry/swine waste technologies. Compliance is measured through a Renewable Energy Credit (REC) system pegging a fixed amount of electricity to a variable dollar value. To meet their portion of the standard, utilities must either purchase credits from customers through net metering or generate them using their own renewable energy facilities. Credits expire after three years. Additional information is available from the North Carolina Utilities Commission website.

Residential customers of the Blue Ridge Electric Membership Corporation may be eligible for solar or wind net metering. Hydroelectric net metering may be available for systems rated below 25 kW. Parties to a net metering contract will be compensated for their net excess generation (NEG) at the full retail rate; however, they may be subject to higher facilities charges and minimum bills. Additional information is available from the BREMC website.

Residential customers of the Four-County Electric Membership Corporation may be entitled to rebates on large appliances. Available rebate offers will vary from time to time. Currently, a flat $50 incentive may be claimed for new fridge/freezers, washer/dryers, dishwashers, and heat pumps at or over 16 SEER. It does not matter whether the appliance is completely new or if it will replace an older unit. To apply, proof of purchase is required. Additional information is available from the FCEMC website.

NOTE: Applications are no longer accepted for small solar devices. NC GreenPower is a public incentive program administered by the state government in partnership with private utilities. The program effectively creates a large-scale power purchasing agreement (PPA) for owners of solar, wind, biomass, and hydroelectric systems not participating in a net metering contract. Participants will receive compensation for the energy they produce and export to the grid at a fixed per-kilowatt rate. Rate schedules depend on what technology is used to generate the energy. Additional information is available through the NC GreenPower website.