If you look at the best solar and renewable energy markets in the U.S., they all have one thing in common: a strong net metering program. Net energy metering – or NEM – allows you to earn credits for any excess solar electricity you send to the grid when your solar panel system generates more than you need. North Carolina has one of the largest solar industries in the United States, ranking fourth in 2022 on SEIA’s list of the top solar states by installed megawatt capacity. However, on March 23, 2023, the North Carolina Utilities Commission approved new net metering rules that will lower solar savings for Duke Energy customers.
The changes to net metering in North Carolina are nowhere near as drastic as the recent changes in California but are still anticipated to reduce the average solar shopper’s savings by approximately 20 percent. Luckily, residents of North Carolina can lock in current net metering rates through 2026 by deciding to go solar and submitting a completed interconnection application by October 1, 2023. In this article, we’ll explain what you need to know about the changes to North Carolina’s net metering policy and the steps you need to take now to guarantee the best solar savings.
This article was updated on May 24, 2023 to reflect new developments and adjusted deadlines.Continue reading