• Program to pair home solar installations with battery energy storage continues to help advance rooftop solar 
• Company is looking at ways to enhance pilot to make it available to more customers

CHARLOTTE, N.C., July 22, 2024 /PRNewswire/ -- Duke Energy (NYSE: DUK) has enrolled more than 1,300 customers in North Carolina in its new PowerPair^SM pilot, a one-time incentive-based program designed to help make a home solar plus battery system more affordable for customers.

Approved by the North Carolina Utilities Commission (NCUC) in January 2024 and launched in May 2024, the pilot program offers up to $9,000 in incentives for residential customers who install a new solar plus battery system. The total incentive is based on the approved capacity of the solar array and battery installed. PowerPair was designed in collaboration with numerous stakeholder groups at the direction of the NCUC.

"North Carolina already ranks fourth in the nation for overall solar power with approximately 45,000 Duke Energy customers generating about 350 megawatts through solar panels," said Meghan Dewey, vice president of products and services for Duke Energy. "PowerPair is a valuable solution for our customers ready to invest in solar plus storage for their homes. It is one of several ways we're helping our customers save energy and money, while continuing to explore new ways to help manage low carbon grids of the future."

More customer options encourage participation

Participants in the pilot may choose to enroll in PowerPair on a residential solar choice rider (RSC) or through a net metering bridge rider (NMB) and receive a one-time incentive of up to $9,000. NMB customers additionally enroll in the company's new Power Manager^® and EnergyWise Home^® battery option and receive additional monthly bill credits for allowing Duke Energy to periodically adjust their battery system's operating setting for a temporary period to provide stored electricity back to the grid, which benefits all customers.

"Duke Energy is diving headfirst into our next iteration of solar rebate programs to match the increased need to pair solar and battery," said Dewey. "We're already seeing that PowerPair is proving to be quite popular with customers, and our team is hard at work to develop what comes next for innovative solar and battery storage offerings."

The PowerPair pilot has remaining capacity and continues to take applications. Customers can view the approved battery vendor list and information on equipment eligibility (not all systems will be eligible) at duke-energy.com/PowerPair. Participating PowerPair customers must employ a Duke Energy Trade Ally, a solar and battery installer that has been approved by Duke Energy. Customers can use the company's Find It Duke program here.

Expanded offerings coming soon

As Duke Energy prepares to fulfill incentives for its initial PowerPair participants, it is also looking at ways to enhance the pilot for other customers who may not be able to purchase a new solar and battery system upfront. The company will be collaborating with stakeholders on several options that could focus specifically on income-qualified customers, customers dependent on medical devices, or a comparable program for non-residential customers or other targeted participants.

"It was important to first commit to a successful initial PowerPair launch and ensure that the pilot got off the ground smoothly, and we accomplished that," said Dewey. "We are excited to now turn our attention to developing additional offerings that fit a broader scope of our customers' varying needs and lifestyles."

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

Contact: Logan Stewart

24-Hour: 800.559.3853

Twitter: @DE_LoganS

View original content to download multimedia:https://www.prnewswire.com/news-releases/duke-energy-powerpair-pilot-program-enrollment-surpasses-1-300-customers-in-north-carolina-302203025.html

SOURCE Duke Energy