* Deal will create innovative pricing and incentives for residential solar customers.
* Plan is latest step in implementing bipartisan, collaborative path for growth of renewables in the Carolinas.
The deal will provide options for customers while allowing the company to address increasing electric demand periods in the winter for the benefit of the company's systems and customers in both
The proposed plan - Solar Choice Net Metering - could be the next generation of net energy metering for the Carolinas, a billing process that credits small customers with rooftop solar arrays for excess electricity they generate and provide to Duke Energy via the grid.
Solar Choice Net Metering will include retail rates that vary based on the time of day and when utilities experience peak demand. It will also give customers the ability to install a smart thermostat with their solar panels and receive an incentive for the combination.
"This first-of-a-kind package completely modernizes the rooftop solar transaction," said
Those organizations part of the effort include renewable energy advocates
The agreement builds on the goals of the South Carolina Energy Freedom Act (Act 62). The 2019 legislation is the result of a collaborative and bipartisan effort to develop the next steps for energy policy in
"Collaboration brought us a pathway to growing renewables in the state with Act 62, and that spirit of working together created this plan for the continued expansion of solar in
"Duke Energy deserves credit for its leadership in bringing stakeholders together, establishing trust through transparency, and embracing policy innovation," said
If approved by regulators, the company anticipates a transitional tariff to be available on
Duke Energy
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains 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.
Duke Energy media contact:
800.559.3853
Vote Solar media contact:
202.455.0361
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