In 2024, Duke Energy rolled out new rate structures for its North Carolina customers. This change, approved by the North Carolina Utilities Commission (NCUC), is part of a $7.7 billion effort to improve grid reliability and security. While these upgrades are important for long-term stability, they result in notable rate increases over the following years.
At Southern Energy Management (SEM), we’ve been helping North Carolinians understand and adapt to changes in solar policies for over 25 years. We’re here to support you through this transition, so you can take full advantage of any opportunities available to you now.
What Our North Carolina Households Can Expect
North Carolina households will experience noticeable increases in their electric bills. Approved rate adjustments for Duke Energy Carolinas will bring the average household’s annual bill up by roughly $220 per year by 2026.
Click here to learn more about the 3 options North Carolina homeowners have in 2026.
What Our Local Businesses Can Expect
Rate hikes will impact businesses differently based on their size and rate schedules, making it difficult to predict a uniform cost impact for everyone. Here’s what we know you can expect:
- Higher Monthly Costs: All businesses, no matter their size, will notice an increase in their electricity bills due to rate hikes. The exact amount will depend on your specific rate schedule, how much energy your business uses overall, and whether you have solar offsetting some of that energy.
- Time-Of-Use (TOU): With the new rate structure, commercial customers will move to Time-Of-Use (TOU) schedules, meaning the cost of electricity will vary depending on when it’s used. At its most basic level, if your business uses a lot of energy during peak times, you will see much higher costs. There are opportunities to save if you can continously adjust your energy use based on a schedule, but that can also be a part-time job.
- Emphasis on Demand Charges: The new rates will focus more on demand charges, which are based on the highest level of electricity used during any short period within a billing cycle. For businesses with high peak demand, these charges could add up, even if your total energy use is relatively low.
- Solar Will Not Be Right For Everyone (more on this below)
Is Solar Right For Your Business?
With rising rates, new schedules, and changing incentives, solar will not be the right financial fit for some business right now That’s why, more than ever before, it is important to work with a local solar installer who you trust; someone who understands your state’s policies, incentives, solar climate and someone who will be upfront and honest if solar isn’t right for you.
If right for you, solar can enhance your operational resilience, reduce long-term costs, and allow you to make a commitment to sustainability, your community, and North Carolina’s broader environmental goals.
Click here to learn more about a great solar opportunity for Multifamily & Commercial spaces.
Whether you’re a homeowner, business-owner, or both; we’re here to help you navigate solar in 2026. Get in touch with our team today!
