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Solar prices are going up

The cost of solar has soared 18% in the last year, for an industry that had experienced dramatic price declines over the last decade that have enabled it to compete with fossil-fuel-fired projects. After years of consistent decreses in prices the cost of solar is now going up. There are a few factors as to the rise in cost. Inflation is at the top of the list. U.S. inflation surged to a new four-decade high of 8.5% in March from the same month a year ago, driven by skyrocketing energy and food costs , supply constraints and strong consumer demand. Many states have seen inflation rates over 10%. Solar sales are still up dispite the increse in cost mainly because the cost of ....
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Energy Costs

Energy independence is just as important as being independent of debt. We strive each day to reduce our debt so we can be in a better position in life. Energy costs are up 11% in the last 2 years. They will continue to increase and you will have no say in the matter. What you can do is have your own source of energy. So why rent power for the rest of your life when solar can all but eleminate your power bill. Solar has a 25 year warrant and a 40-50 shlef life, you will be set for the better part of your life and not be subject to the power companies. Solar also provides cleaner and more consistent power which will help the longevity of your appilances and devices. Take 15 mins and look and ....
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What you need to know about solar

Solar has been around for a long time, however most people do not know much about what solar can and can not do. Where solar is a viable option for many, it is not a good fit for all. Solar is usally grid tied and will not work when the grid is down with backup storage. There is new technology that allows access to solar production without storage. Its new and a little expensive but it is a great benefit. Some utility companies will buy your excess energy but Duke will not. Net metering allows solar owner an opportunty to all but eleminate all their usage. You will still have to pay for a basic service charge which may range from $14-$39 per month. Net metering allows solar owners to ....
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26% Solar Tax Credit

We are now into May and there are 8 months left to take advantage of the 26% tax credit. The tax credit drops to 22% in 2023 and expires for residental solar in 2024. Commercial solar will have access to a 10% tax credit in 2024. The tax credit is 26% of the cost of your solar system. If your system cost is $30,000 you will qualify for a $7800 tax credit which you will apply to your taxes next year. If you have paid $7800 in federal taxes in 2022 than you will get a refund check for the whole amount. If you have not paid that much in federal taxes than you will get back what you have paid in and the remaining amount will roll over to the next year. If you paid $5000 in federal taxes you ....
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Net Metering Will Not Be Around Forever

Net Metering is an Incentive Net metering is a vital part of energy independence. Net metering allows solar customers to produce a whole days worth of power while the sun is accessable. The over production is backfeed and stored on the grid with the customers getting full value of the excess. Many cooperative utilty compnaies take an “avoided cost” on the excess which can be a third of the value that is being charged. Duke and some cooperatives have strong net metering programs but that doesnt mean they will have those programs forever. Like the federal tax credit, net metering will not be around forever. Those who enter into a net metering agreement with a utilty ....
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Duke Rate Increase

CHARLOTTE, N.C. – Duke Energy Carolinas yesterday made its annual filings with the North Carolina Utilities Commission (NCUC) for costs associated with fuel, state programs to encourage renewable energy adoption, and energy efficiency and demand management programs to reduce energy use. Duke Energy Carolinas is proposing an increase in monthly fuel costs as part of its annual adjustment of the actual cost of fuel used to power North Carolina homes and businesses. By law, the company makes no profit from the fuel component of rates. The NCUC reviews the fuel costs required to serve customers to ensure an accurate adjustment is made each year. If approved, the new fuel and ....
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Self Sufficient during difficult times

The past few months have been unprecedented for most of us. With Covid 19 we have seen how fast things can change and not for the better. In just a few months we have seen our lives turned upside down. We at LuminaSun have been effected as well and our thoughts and prayers go out to all that are struggling with loss and adversity. People are resilient and are adapting to the situation however, lives have changed and burdens created. As with most disasters, we see how fast the shelves will empty at the stores, how hard it is to buy things that everyone else wants as well. The key is to be prepared. Many people have back up generators, food storage, batteries, water, ect. These are all ....
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Here's how much Duke Energy paid its CEO in 2019

By John Downey – Senior Staff Writer, Charlotte Business Journal Mar 27, 2020, 7:20am EDT Updated Mar 27, 2020, 12:40pm EDT Duke Energy Corp. awarded CEO Lynn Good an annual compensation package of more than $15 million in 2019, according to a newly filed report with the Securities and Exchange commission. That is 7.4% more than the almost $14 million she received in 2018, but well below her peak of $21.4 million in 2017. That year was boosted by a one-time retention bonus of $7 million in equity. In putting out information about executive compensation, Charlotte-based Duke (NYSE: DUK), as always, emphasizes that Good does not actually receive the total amount awarded in any given year. Her base salary was $1.38 million. But $10.12 million worth of her compensation is in stock awards, which vest over time and the value of which depends on the company’s performance. “The vast majority of the total compensation figure is ‘at risk’,” the company says. Beyond that, the company awarded her $2.8 million from its cash incentive plan. The value of her pension and deferred compensation was $355,908 last year. Duke calculates the median annual compensation for all its employees at $123,608. That puts Good’s annual compensation at 122 times the median for the roughly 28,800 Duke workers other than the CEO. ....
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Solar- An Investment like none other

Investments are very important. There are many ways we can invest our hard earned money. Typically the higher ROI, the higher the risk. We have to try and balance what we can afford to pay and how much risk are we willing to take. Most investments are paid in with money we have left over after the necessities are taken care of. We may have $100 or $1000 left over to invest, over time it makes a big difference. Investing in solar is different. We will have to buy our solar system with our hard earned money just like we would with any investment, however the difference is we will be taking the money from our power utility and using that to pay for our investment. The only risk to solar is, ....
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Solar increases the value of your home 4.8% in NC

Does adding solar power increase a home’s value at time of sale? According to real estate information company Zillow , in some states the answer already is yes. Zillow’s research indicates that in the same way homeowners are willing to pay thousands of dollars for renovations like a new kitchen or finished basement, they need to evaluate the return on investment from investing in solar energy. Installing solar panels in a home not only helps to reduce current monthly utility bills; it can potentially increase the home’s value by up to 4.1% more than comparable homes with no solar panels, according to recent solar research done by Zillow — or an additional $9,274 ....
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