GREENVILLE, S.C., July 23, 2018 /PRNewswire/ -- Duke Energy Progress is launching an affordable option for customers that will enable them to share in the economic benefits from the output of a single solar facility – providing customers another choice that will continue to grow renewable energy in South Carolina.
The Shared Solar Program is available to all qualified Duke Energy Progress residential and nonresidential customers including those who hold tax-exempt status, those who live in multifamily housing or rent homes, and those who may not otherwise have access to solar energy.
Customers who subscribe to solar energy through the Shared Solar Program will receive a monthly bill credit for the value of the energy produced by their subscription.
"This is a great program for any customers who don't own their residence or are unable to put a solar facility on their property," said Kodwo Ghartey-Tagoe, state president for Duke Energy in South Carolina. "We estimate that residential customers will earn back their initial payment in credits from the solar array in three years. Customers are not only saving on their electric bill, they are directly supporting a renewable energy future in South Carolina for generations to come."
The program will be powered by the Whitney M. Slater Shared Solar Facility developed by Pine Gate Renewables and located in Dillon County near Lake View, S.C.
Duke Energy Progress serves electric customers in the northeastern part of the state, including Florence, Darlington and Sumter counties.
How does shared solar work?
Participants in the program will pay a monthly subscription fee of $6.25 a kilowatt in addition to initial fees to join the program. These program costs are in addition to the customer's regular energy bill.
The monthly fee funds the customer's share of supporting the operation of a solar facility located in the Pee Dee region. By subscribing to the Shared Solar Program, the customer will receive a monthly credit from Duke Energy Progress equal to the amount of solar energy the customer's share produced.
Participating in this program will not impact customer usage or the way they pay their bill.
For qualified low-income customers, Duke Energy Progress will waive the application cost and initial fees, a $120 value. Customers should contact their local community action agency for assistance determining eligibility.
Space is limited and program reservations will be provided on a first-come, first-served basis. To participate in the program, customers must have an active Duke Energy Progress account. Visit www.duke-energy.com/SCSharedSolar or contact us at 866.233.2290 for more information.
Growing solar in South Carolina
The Shared Solar Program is a result of the historic collaborative effort in South Carolina to grow solar jobs and give customers choices as to how they live their energy future.
As a result of Act 236 – landmark legislation passed by South Carolina's General Assembly in 2014 – Duke Energy and its customers have helped make South Carolina one of the country's greatest success stories for renewable energy. More than 5,000 of the company's South Carolina customers have installed solar panels on their homes and businesses, and in 2017, South Carolina jumped to No. 8 in the country for the amount of solar installed during the year.
Act 236 provided a framework for customers to install solar on their homes and businesses through strategic programs like the net metering incentive and rebate offerings. In addition to the net metering incentive, the company has provided more than $50 million in rebates as an extra incentive for customers who wanted to go solar across its South Carolina footprint.
Duke Energy Progress
Duke Energy Progress owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,800 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy Progress is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
SOURCE Duke Energy