For Homeowners, Nonprofits and Businesses
Faith communities and homeowners can install solar and battery storage while navigating multiple layers of cost savings. As a result we will be better stewards of our own and our congregation’s finances and better stewards of the Earth.
First, the not-so-good news: utility bills are going up. Duke Energy Carolinas raised their rates by 9% in September, and Duke Progress has asked the Utilities Commission for a 4.6% increase on December 1. Also, the provisions in Duke’s Energy Plan for the future are still unclear; we don’t know if there will be more gas plants or greater investment in renewables.
Now, the GOOD news: the opportunities for “going solar” have never been better – for homeowners, businesses, and nonprofits alike. But, you say, the process is complex and daunting. Where do I even begin?
More good news: The three webinars below can put the wind in your sails.
- The United Church of Christ’s “The Inflation Reduction Act: How it can Benefit Faith Communities”
- NC Interfaith Power and Light’s “Affordable Solar: A Webinar on Available Rebates”
- ICCT’s Solarize the Triangle Info Session which attracted 88 viewers on Oct. 18.
Which one is right for you? All three are enormously informative covering
- The 30% direct payback to faith communities for solar installations/battery storage provided by the Inflation Reduction Act
- For non-profits, up to a $75,000 Duke Energy rebate for 100 kw panels (at the rate of 75 cents per watt); it must be reserved (but not installed) by December 31, 2022
- The processes, time-frame, and terminology involved in purchasing solar and/or battery installations
Some distinctions among the three webinars
- The UCC webinar goes into more detail about the savings in the Inflation Reduction Act and discusses ways for faith communities to discern the best financing options for solar or energy efficiency upgrades. A representative of the UCC Cornerstone Fund, a non-profit that offers loans to UCC and other faith communities, described an instrument that provides funding for 100% of a project at the rate of 3 ½% for 3 years. Other resources UCC provided:
- Information in the NC Interfaith Power & Light recording covers leasing options that are offered by Eagle Solar.
- Solarize the Triangle explores even more cost saving opportunities including up to 25% available to non-profits, individuals, and businesses through crowd-sourcing, not currently available elsewhere.
Now let’s cap this summary off with even more GOOD news:
As of September 2022, $3 million remained in the Duke Solar Rebate Plan for 2022. The money is earmarked for non-profits wanting to lease or purchase a solar installation/battery storage. (The rebate must be reserved by 12.31.22, but the installation does not have to be completed by this time.)
So if your faith community has been contemplating a solar installation as a commitment to environmental stewardship and sound fiscal management, it’s clear that there has never been a better time to act.
