Raleigh-based Progress (NYSE: PGN) said the goal of its new SunSense
program is to increase the amount of solar energy produced in its
Carolinas and Florida territories by more than 100 megawatts over the
The company intends to reach that goal by offering a series of incentives and rebates.
• Progress will pay commercial customers the going market rate for
each killowat-hour of electricity produced by newly installed solar
power systems. This program will debut in the Carolinas this summer and
in Florida next year.
• Also starting this summer is a program that will provide
incentives for Progress’ business customers to install solar water
heaters. That program will not be available in Florida.
• For residential customers, Progress Energy will pay $1.50 to $2
per watt for residential solar installations. That should cover about
25 percent of the installation cost, Progress said. The program will
debut late this summer in the Carolinas and next year in Florida.
• Also for residential customers, Progress will offer rebates to
customers who install solar water heating systems. The program, already
established in Florida, is being rolled out the in Carolinas.
A fifth arm of the Progress plan will see the company’s Progress
Energy Carolinas and Progress Energy Florida subsidiaries install solar
panels at selected schools in their territories.
With a market capitalization of almost $10 billion, Progress Energy
is the most valuable company in the Raleigh-Durham area and the only
one in the federally defined Triangle area to rank among the Fortune
500. Raleigh-based Progress Energy Carolinas supplies electricity to
much of the Triangle area.