Hickory, NC
Solar in Hickory
Considering solar panels for your Hickory home? With North Carolina electricity prices rising 24% since 2020, solar power offers a smart investment that puts you in control of your energy costs while supporting a cleaner environment.
Hickory’s favorable climate provides ideal conditions for solar energy production, allowing homeowners to harness abundant sunshine and reduce their dependence on traditional power sources.
NORTH CAROLINA by the Numbers
Key Takeaways
- Hickory’s electricity prices have risen 24% since 2020, making solar power an increasingly attractive investment for homeowners seeking to control energy costs.
- North Carolina solar incentives can save homeowners $6,891 on average through the federal tax credit, property tax exemptions, and utility rebate programs.
- Solar panels in Hickory typically pay for themselves in 8.5 years while providing an estimated $61,034 in savings over their 25-year lifespan.
Solar Cost Calculator
Discover the true cost of solar installation in Hickory, NC with our calculator powered by real installation data from your area. Whether you’re in Mountain View, Highland, or Viewmont, our local insights help homeowners make informed decisions about switching to clean energy.
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Estimated Investment and Savings
Hickory Electricity Prices
Hickory, NC residents face rising electricity costs, with local rates jumping from 11.3¢ to 14.1¢ per kWh since 2021—a 24.7% increase that impacts household budgets.
While Hickory’s electricity rates remain below the national average, the upward trend is concerning. Duke Energy’s recent rate increases in Catawba County reflect ongoing infrastructure investments and rising operational costs.
Solar installation in Hickory offers a practical solution by generating clean electricity on your property. With abundant sunshine and North Carolina’s net metering program, homeowners can offset their monthly utility bills while reducing grid dependence.
Unlike traditional electricity costs that continue to rise, solar panels in Hickory provide predictable energy expenses for 25+ years. This long-term price stability gives homeowners control over their energy future while enhancing property value.
Price of Energy: North Carolina vs National Average
Hickory Area Utility Providers
In Hickory, NC, residents are primarily served by Duke Energy (11.9¢/kWh) and EnergyUnited (11.7¢/kWh). As of 2023, both utilities offer rates lower than North Carolina’s average of 12.9¢/kWh and significantly below the national average of 16.0¢/kWh.
Hickory’s electricity costs benefit from regional advantages including proximity to diverse energy generation facilities and North Carolina’s regulated utility market. However, rates have steadily increased over recent years, with further hikes anticipated.
While Hickory residents currently enjoy below-average electricity costs, solar installation provides long-term price stability. Unlike utility rates that fluctuate annually, solar power offers predictable energy expenses and protection from future rate increases.
Hickory Utilities Electricity Rates
North Carolina Solar Incentives
Hickory residents can substantially reduce solar installation costs through solar incentives in North Carolina, including federal tax credits, state exemptions, and utility programs.
Available incentives include property tax exemptions saving approximately $120 annually, Duke Energy’s PowerPair program offering up to $9,000 for solar plus battery systems, and the new Solar for All program for low-income households.
These incentives can change or expire, so research current offerings thoroughly. Acting promptly ensures you maximize available benefits while transitioning to clean, affordable energy for your Hickory home.
Save an average of
$6,891
in solar rebates in North Carolina
INCENTIVE | TYPE | DESCRIPTION | SOURCE |
---|---|---|---|
Residential Clean Energy Credit | Federal tax credit | A federal tax credit worth 30% the cost of a solar panel system in the year it’s installed | Learn More |
Solar Energy System Property Tax Exclusion | State tax exemption | All Residential Solar Systems are not subject to property tax. Saves ~$120/year on a $15,000 system (appraised) at 1% tax rate. | Learn More |
Solar for All (EnergizeNC) | State program | New program for low-income households. Funded by $156M federal grant. Provides solar at little to no cost. | Learn More |
Duke Energy: PowerPair Solar + Battery Incentive | Utility program | New pilot for Duke Energy Customers offering $3,600 for solar plus $5,400 for battery storage. Combined maximum $9,000. | Learn More |
The Residential Clean Energy Credit lets people claim a tax credit worth 30% the cost of a solar panel system in the year it’s installed. The credit can only be used against taxes you owe or have already paid that year, but any excess credit can be rolled over to future years.
The credit is broadly available, though there are a few restrictions — you must own the panels and they must be on a house you live in — so be sure to consult a tax professional about your situation.
The Solar Energy System Property Tax Exclusion is a valuable North Carolina tax incentive that reduces the property tax burden for solar photovoltaic (PV) system owners. Under this program, qualifying solar electric systems receive an 80% exclusion from property tax assessment. This means you’ll only pay property taxes on 20% of your solar system’s appraised value, significantly lowering your annual property tax bill.
Eligibility for this tax benefit depends on how you use your solar system. If you’re a homeowner using solar panels solely to offset your own electricity usage through net metering (receiving credits from your utility company), your system is considered non-business personal property and is completely exempt from property taxes. However, if you claim depreciation expenses on your tax returns or receive income from selling electricity to utilities, your system is classified as business personal property and qualifies for the 80% tax exclusion. There are no expiration dates or deadlines associated with this incentive, making it a long-term benefit for North Carolina solar owners.
The Solar for All (EnergizeNC) program is a $156 million state initiative designed to help low-income and disadvantaged North Carolina homeowners access solar energy. Led by the North Carolina Department of Environmental Quality’s State Energy Office in collaboration with several clean energy organizations, this program aims to deploy rooftop solar systems that will reduce energy costs for eligible households while decreasing greenhouse gas emissions.
EnergizeNC specifically targets low-income households, disadvantaged communities, and residents of state and federally recognized Tribal lands. The program will cover installation costs for qualifying homeowners, making solar accessible to those who typically couldn’t afford the upfront investment. While specific savings amounts aren’t detailed, the program emphasizes meaningful utility bill reductions. Interested homeowners can visit www.energizeNC.org to sign up for updates on program deployment, eligibility requirements, and application processes.
Duke Energy’s PowerPair program offers North Carolina homeowners a significant financial incentive for installing solar panels paired with battery storage systems. This pilot program provides a one-time incentive of up to $9,000 to help offset the cost of installation, making clean energy more accessible for residential customers in Duke Energy Carolinas and Duke Energy Progress service areas.
To qualify, homeowners must use a Duke Energy-approved Trade Ally installer and select eligible equipment from the approved battery vendor list. Participants can choose between two enrollment options: the Residential Solar Choice rider or the Net Metering Bridge rider (which requires enrollment in Duke Energy’s battery control program). Applications opened May 10, 2024, with participants initially selected through a random selection process to ensure incentive equity. Homeowners who participate in the additional battery control option can receive monthly bill credits by allowing Duke Energy to access their stored electricity up to 36 times per year (with the ability to opt out of four events annually).
The Net Metering Bridge Rider (NMB) is a transitional solar incentive program offered by Duke Energy in North Carolina (both Duke Energy Progress and Duke Energy Carolina). This program allows solar homeowners to receive credit for excess electricity their system produces and sends back to the grid. Unlike the previous 1-to-1 net metering program, the NMB uses a monthly settlement approach where any excess production not used within the month is credited at a rate of 3.4 cents per kilowatt-hour.
To be eligible, homeowners must submit interconnection applications starting October 1, 2023, and before the annual capacity limit is reached. The program includes minimum monthly charges ($28 for Duke Energy Progress and $22 for Duke Energy Carolina) plus a monthly charge based on system size ($0.62/kW DC for DEP and $0.28/kW DC for DEC). Important considerations include: the program is only available until annual capacity limits are filled, after which customers will be placed on the Residential Solar Choice (RSC) program with time-of-use pricing; and the previous 1-to-1 net metering program closed to new customers on October 1, 2023, with grandfathering until January 1, 2027.
Ready to start saving with solar?
Speak with a Palmetto solar expert to find out exactly how much you can save with North Carolina incentives.
Get a Free QuoteHickory Solar Irradiance
Solar panel production varies throughout the year based on daylight hours, weather patterns, and sun intensity. Understanding how seasons affect your solar system helps set realistic expectations for your investment.
Hickory’s mild climate with abundant sunshine, particularly in summer months, creates ideal conditions for solar energy production, despite occasional cloudy days and seasonal variations.
Solar Production in Hickory by Month
What Can Your Solar System Power?
Summer Production (July)
In July, your 10 kW system could power:
- 3.0 average homes (15 kWh/day per home)
- or Run central AC for 15 hours AND power all other appliances
- or Fully charge 4.6 Tesla Model 3 electric vehicles
Winter Production (December)
In December, your 10 kW system could power:
- 1.8 average homes (15 kWh/day per home)
- or Keep your home heating system running for 13 hours
- or Fully charge 2.7 Tesla Model 3 electric vehicles
Annual Production
Over a year, your 10 kW system could:
- Offset 10 tons of carbon dioxide emissions
- or Equal the environmental benefit of planting 174 trees
Want to know exactly how much solar can power your home?
Get a personalized solar analysis based on your actual home, energy usage, and roof characteristics.
Get My Custom EstimateSolar Installations in Hickory
Discover the solar revolution in Hickory, NC with our interactive heatmap! We’ve mapped every solar installation across town, showing which neighborhoods are embracing clean energy. See how your community stacks up and find out which Hickory areas are leading the solar movement.
Leasing Solar Panels
For homeowners in Hickory, NC, Palmetto offers flexible solar financing through leasing options. If you’re a Duke Energy Carolina (DEC) customer, you’re eligible for our solar lease program—allowing you to enjoy clean energy benefits without the upfront investment or maintenance responsibilities.
With a solar lease, you’ll pay a fixed monthly amount based on your system’s estimated production. This predictable payment structure makes budgeting easy while protecting you from rising utility rates. Your leased solar system is professionally maintained by Palmetto, ensuring optimal performance throughout the agreement.
While purchasing solar panels provides the highest long-term savings, leasing offers an accessible alternative with immediate bill reduction and zero maintenance worries. For income-qualified households, our LightReach program provides additional options to make solar even more affordable.
Go solar without the investment
With LightReach, there are no investment costs to recoup, loan payments to manage, or maintenance needs to take on. As soon as your panels are active, your solar savings are too!
Learn MoreFrequently Asked Questions
Yes, solar makes excellent sense in Hickory, NC. With electricity prices rising 24% since 2020 and abundant sunshine throughout the year, Hickory residents can significantly reduce their energy costs while taking advantage of valuable incentives.
The average solar system in Hickory pays for itself in 8.5 years and provides approximately $61,034 in savings over 25 years. North Carolina’s property tax exemption for solar systems and Duke Energy’s new PowerPair program make going solar even more attractive.
Hickory residents with Duke Energy Carolina (DEC) have the Net Metering Bridge Rider program, where excess monthly production is credited at 3.4¢/kWh. This program includes a $22 minimum monthly charge and a $0.28/kW DC monthly fee.
The previous 1-to-1 net metering program closed to new customers in October 2023, with grandfathering until January 2027. Once annual capacity is reached, customers will transition to the Residential Solar Choice program with time-of-use pricing.
Yes, solar panels increase home value in Hickory. According to a Zillow study, homes with solar panels sell for 4.1% more than comparable homes without solar.
For the median Hickory home value of $250,000, this represents a potential $10,250 increase. This value boost combines with energy savings and North Carolina’s property tax exemption for solar installations.
In Hickory, a typical 8.19 kW solar system costs around $22,970 before incentives. With the 30% federal tax credit, the final cost drops to approximately $16,079.
System prices vary based on home size, energy needs, and roof characteristics. Most Hickory homeowners see their systems pay for themselves in about 8.5 years while saving an estimated $61,034 over 25 years.
Yes, solar is financially worthwhile in Hickory. With electricity rates rising 24% since 2020, a typical solar system pays for itself in 8.5 years while providing approximately $61,034 in savings over 25 years.
The 30% federal tax credit reduces system costs significantly, and North Carolina’s property tax exemption adds further value. Solar also increases home value by about 4.1% according to Zillow research.
As a national company with a strong local presence in North Carolina, Palmetto is Hickory’s premier solar installation choice. We’ve completed over 2,000 installations across the state since 2020, delivering quality workmanship and excellent customer service.
Our comprehensive approach includes industry-leading financing options, professional installation, and ongoing system monitoring. We handle everything from permitting to interconnection, making solar simple and accessible for Hickory homeowners.