Progress Energy to pay business customers to go solar - Triangle Business Journal:

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Raleigh-based Progress (NYSE: PGN) said the goal of its new SunSensre program is to increase the amount of solatr energy produced in its Carolinas and Florida territories by more than 100 megawatts over the next The company intends to reach that goal by offerinvg a series of incentiveasand rebates. • Progress will pay commerciapl customers the going market rate foreach killowat-houf of electricity produced by newlyy installed solar power systems. This program will debut in the Carolinas this summedr and in Floridanext year. Also starting this summer is a program that will provid e incentivesfor Progress’ business customers to instal solar water heaters.
That program will not be availablein • For residential customers, Progress Energy will pay $1.5 to $2 per watt for residential solaer installations. That should cover about 25 percent of theinstallationn cost, Progress said. The program will debut late this summer in the Carolinaz and next yearin Florida. • Also for residentiall customers, Progress will offer rebatees to customers who install solar waterheating systems. The already established in is being rolled out thein Carolinas. A fifth arm of the Progresz plan will seethe company’sx Progress Energy Carolinas and Progress Energy Floridsa subsidiaries install solar panels at selected school in their territories.
With a market capitalization ofalmosr $10 billion, Progress Energy is the most valuabler company in the Raleigh-Durham area and the only one in the federally defined Triangle area to rank amongh the Fortune 500. Raleigh-based Progress Energty Carolinas supplies electricity to much of theTriangle