Perhaps someone can clear this up for me since I do Net-Metering…
Why would a small solar producer go with NC GreenPower?
From my understanding, with the NC GreenPower Program you are required to have a second meter, with a monthly charge of around ($15 per month), then pay some administrative charges to the power company ($2-3 per month), then the income from the power produced is taxable income ( 28 percent to the Feds, and 7 1/2 percent to NC income taxes). How can you possibly come out with a small solar system?
I do Net-Metering with the power company, so every bit of the power produced is credited to my account at the same price (or higher during peak periods) along with all the riders that might be added. PLUS I can’t pay income taxes on money that I SAVE (don’t spend on electricity).
I also didn’t mention that I keep ownership of my Renewable Energy Certificates, whereas with NC GreenPower, they get your certificates…
What am I missing here?