Residential

Residential Renewable Energy Tax Credit

Note: Section 13302 of The Inflation Reduction Act of 2022 (H.R. 5376) extended the expiration date and modified the phase down of this tax credit. It also made stand-alone energy storage systems eligible for the credit, and biomass heaters ineligible for the credit. Biomass heaters are now eligible for the residential energy efficiency tax credit. The summary below reflects the credit after the enactment of H.R. 5376.

A taxpayer may claim a credit for a system that serves a dwelling unit located in the United States that is owned and used as a residence by the taxpayer. Expenditures

Last Update

Energy-Efficient Mortgages

Homeowners can take advantage of energy efficient mortgages (EEM) to either finance energy efficiency improvements to existing homes, including renewable energy technologies, or to increase their home buying power with the purchase of a new energy efficient home. The U.S. federal government supports these loans by insuring them through Federal Housing Authority (FHA) or Veterans Affairs (VA) programs. This allows borrowers who might otherwise be denied loans to pursue energy efficiency, and it secures lenders against loan default.

FHA Energy Efficient Mortgages
The FHA allows lenders to add up to 100% of energy efficiency improvements to an existing mortgage loan

Last Update

Duke Energy - Improve & Save

Duke Energy's Improve & Save Program functions like an on-bill financing program and provides an opportunity for homeowner and renters to receive energy efficiency improvements with potentially no money down. Interested customers can start by filling out an eligibility form on Duke's website. If eligible, the customer will then schedule a free energy audit with a program-approved third-party. The energy advisor performing the audit will recommend efficiency improvements, which may include new HVAC systems and duct sealing, attic insulation and air sealing, and heat pump water heaters. 

Duke will then pay for the equipment, upgrades, and installation. Where applicable, existing

Last Update

Duke Energy - PowerPair

Duke Energy's PowerPair program provides financial incentives to customers who install solar photovoltaic (PV) plus storage systems at their homes. All participants will receive an upfront incentive for based on the size of their PV and battery systems, up to a maximum of $9,000. 

Participants must enroll in either Duke Energy's Solar Choice Tariff or Bridge Rate. Both options are functionally similar to net metering; however, the Solar Choice Tariff requires customers to be on a Time-of-Use rate, while the Bridge Rate allows customers to be non-time-varying rates. Customers who participate via the Bridge Rate, however, must also grant

Last Update

Mississippi Power - Battery Storage Incentive Program

Note: Incentive suspended pending further investigation by the Mississippi PSC according to an order filed in early April 2024 (See Docket No. 2023-UN-16).

Mississippi Power offers customers a one-time $2,000 cash incentive on a first-come, first-served basis when installing a UL 1741-certified battery storage system.

The utility also offers the Low-to-Moderate Income Residential Incentive Program, but customers are only allowed to choose one of the two incentives, and no incentive will be available beyond 2027.

Last Update

Entergy Mississippi - Residential Demand Response Battery Incentive Program

Note: Incentive suspended pending further investigation by the Mississippi PSC according to an order filed in early April 2024 (See Docket No. 2023-UN-16).

Entergy Mississippi offers customers a one-time $2,000 cash incentive on a first-come, first-served basis when installing a UL 1741-certified battery storage system.

The utility also offers the Low-to-Moderate Income Residential Incentive Program, but customers are only allowed to choose one of the two incentives, and no incentive will be available beyond 2027. 

Last Update

U.S. Virgin Islands - Equitable E-Mobility Rebate Program

The Virgin Islands Energy Office launched the Equitable E-Mobility Rebate Program in January 2024, granting those who purchase an eligible new and used EV from a local or off-island dealership a $5,000 rebate. Applicants may also receive a $500 rebate for eligible e-bikes purchased from qualified vendors. 

One EV rebate and one e-bike rebate are allowed per household, as well as two EV rebate applications per business entity (including non-profits).

EVs and e-bikes purchased starting October 1, 2023, are eligible and rebates are given on a first-come, first-served basis.

For more information visit the program website.

Last Update