Progress Energy, a Raleigh, North Carolina based utility, has completed a study showing that it had announced to its residential customers could save $235 per year, or 63% of the phase of warming of the water in your electricity bill. The company also offers commercial thermal solar energy incentives, also.
Few people outside of solar thermal to realize that the defenders of heating water with an electric hot water tank is tremendously inefficient, wasting energy and money. Therefore, it is great to see a utility (in cooperation with the North Carolina Utilities Commission) to conduct a study on solar water heating savings.
The pilot program and the study gave 150 Progress Energy customers a discount of $1000 to cover the cost of the purchase of a solar hot water heater. (Other public services of North Carolina now offer discounts on cash of between $400 and $850 for residential solar thermal systems). Progress calculates that more than 15% of the electricity of a typical House Bill is used to heat the water.
Installation costs of the average $7.271 per household thermal solar systems, ranging from $4,000 to $12.375 per dwelling. However, that was before the rebates and other incentives.
In addition to the rebate of $1000 of progress, homeowners also qualify for the 30% tax credit federal investment (CTI) and a 35% of State tax of up to $1,400 extra credit, which halved the total cost of installation of solar energy.
Although the Progress Energy residential pilot program expired today, even if is offered commercial water heating cash incentives plots. The utility will have to pay $20 for each credit (REC) renewable energy generated by the solar water heating system for a period of 10 years.
A REC represents one megawatt hour (MWh) of avoiding the cost of solar electricity. To be eligible for the incentive, on the roof-mounted solar water heating systems it must be installed in North Carolina (or South Carolina) in commercial property owned by a non-residential customer of the PEC, and must be between 1,200 and 4,000 square meters of collector (approximately 30 to 100 panels of solar thermal energy). Solar thermal power purchase (PPA agreement) providers are also eligible. (North Carolina Duke Energy utility has a similar program of thermal solar energy.)
The generous incentives means that the buildings of North Carolina apartments, hospitals, hotels and homes for the elderly are conducive to solar hot water installations.
In summary, a North Carolina study shows that the utility of North Carolina residential heaters solar for hot water are profitable, especially for solar electricity customers. In addition, commercial customers still can benefit from incentives in cash provided by Progress Energy.