Duke Energy - Standard Purchase Offer for RECs (North Carolina)

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Last modified on February 12, 2015.

Financial Incentive Program

Place North Carolina

Name Duke Energy - Standard Purchase Offer for RECs
Incentive Type Performance-Based Incentive
Applicable Sector Commercial, Fed. Government, Local Government, Nonprofit, Residential, State Government
Eligible Technologies Anaerobic Digestion, Biomass, CHP/Cogeneration, Geothermal Electric, Hydrogen, Landfill Gas, Photovoltaics, Small Hydroelectric, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Solar Water Heat, Tidal Energy, Wave Energy, Wind
Active Incentive No
Implementing Sector Utility
Energy Category Renewable Energy Incentive Programs
Amount 2012 Rate:

RECs: 5.00 per MWh

Eligible System Size Must provide a minimum of 35 RECs per year, and no more than 10,000 RECs per year

Systems producing in excess of those caps can participate in the unsolicited bid process.

Ownership of Renewable Energy Credits Utility

Terms Minimum term: 5 years

Maximum term: 15 years.

Program Administrator Duke Energy
Website http://www.duke-energy.com/suppliers/carolinas-rfp.asp

References DSIRE[1]


Duke Energy is required by North Carolina's Renewable Energy and Energy Efficiency Portfolio Standard (REPS) to have 12.5% of their electricity sales in North Carolina come from renewable energy and energy efficiency by 2021. There is also a solar component to the requirement which calls for 0.2% of their total sales to come from solar technologies by 2018. The utilities can comply with the law by purchasing renewable energy certificates (RECs) where one REC represents one megawatt-hour (MWh) of electricity generated by a renewable resource. Duke Energy is taking a variety of approaches to meet their portfolio requirements, including their standard purchase offer for RECs and an unsolicited bid process for RECs.

Duke Energy launched their REC-purchasing program in 2008. They have stated REC prices through 2027. For 2012 Duke is offering $5 per REC for general renewable energy RECs. Originally scheduled to increase over time, REC prices are now scheduled to remain at the current level through 2027. These prices are not part of a tariff, however, so Duke Energy may choose to change the rates or close the program altogether at any time. REC purchase agreements are not locked in at the rate offered in the year the agreement is signed. Instead, a REC provider who signs an agreement in 2012 will get paid at the 2012 rate for RECs generated in 2012, but then receive payments at the 2013 rate for RECs generated in 2013.

Facilities must be registered with the North Carolina Utilities Commission as a new certified renewable energy facility to participate in this program. The facility must also be interconnected with Duke Energy's electricity grid in the Carolinas. Systems that meet these requirements and are located in South Carolina are also eligible for this program. REC purchase agreement must be for at least 5 years and up to 15 years.

Incentive Contact

Contact Name Kathy Dunn
Department Duke Energy Corporation
Address Mail Code: EC12H
Address 2 PO Box 1006
Place Charlotte, North Carolina
Zip/Postal Code 28201

Email kathy.dunn@duke-energy.com
Website http://www.duke-energy.com

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]


  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"

Production Concentrating Solar Power Incentives

CSP Commercial Performance-based incentive $/KWh $0.005

CSP Commercial Max $/year $50,000

Production Solar Photovoltaic Incentives

PV Residential Performance-based incentive $/KWh $0.005
PV Commercial Performance-based incentive $/KWh $0.005
PV Non-profit Performance-based incentive $/KWh $0.005

PV Number of Years Applies 15

PV Residential Max $/year $50,000
PV Commercial Max $/year $50,000
PV Non-profit Max $/year $50,000

Production Solar Space Heating Incentives

SSH Residential Performance-based incentive $/KWh $0.005
SSH Commercial Performance-based incentive $/KWh $0.005
SSH Non-profit Performance-based incentive $/KWh $0.005
SSH Residential Number of Years Applies 15
SSH Commercial Number of Years Applies 15
SSH Residential Max $ $50,000
SSH Commercial Max $ $50,000
SSH Non-profit Max $ $50,000

Production Solar Water Heating Incentives

SWH Residential Performance-based incentive $/KWh $0.005
SWH Commercial Performance-based incentive $/KWh $0.005
SWH Non-profit Performance-based incentive $/KWh $0.005
SWH Residential Number of Years Applies 15
SWH Commercial Number of Years Applies 15

Production Wind Incentives

Wind Residential Performance-based incentive $/KWh $0.0050
Wind Commercial Performance-based incentive $/KWh $0.0050
Wind Non-profit Performance-based incentive $/KWh $0.0050

Wind Number of Years Applies 15

Wind Residential Max $/year $50,000
Wind Commercial Max $/year $50,000
Wind Non-profit Max $/year $50,000

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]


  1.  "Database of State Incentives for Renewables and Efficiency (DSIRE)"