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NC Residential Solar Lease

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What is the current status of this program?

The IRA gave both businesses and homeowners a tax credit for installing solar with a credit available through 2032. The budget reconciliation bill signed July 4, 2025 ends the homeowner credit after December 31, 2025, but allows businesses to take the credit through at least 2027 (see details here). This residential lease takes advantage of that provision to help homeowners continue to benefit from the solar tax credit. Since the equipment is leased and remains the property of the company installing it, the company can claim the tax credit, lowering the price to the homeowner and eliminating the upfront cost.

Currently, only two companies are offering a residential lease in North Carolina (see below). If more providers emerge, we will add them on this page.

(Companies approved to lease solar equipment in South Carolina are listed here. We do not know if any of them are offering residential leases.)

What does this funding get me?

If you sign a contract to lease solar for your home, the company leasing you the equipment will install it, do all the necessary paperwork, and maintain the system. You get the benefit of a reduced electricity bill and, if you also opt to install a battery, you will have backup power in the event of a power outage. At the end of the lease period (usually 20-25 years), you can renew the lease, buy the system at fair market value, or have it removed from your property.

Am I eligible?

You are eligible if you live in North Carolina, if you own the home where the solar is installed, and if it is a detached home. In most cases, you must have Duke Energy as your electric utility; for other utilities, the leasing company must get special approval from the Utilities Commission.

Renters are eligible if they have the permission of their landlord.

Landlords are eligible to lease solar for their rented properties, but since they also qualify for the business tax credit, they should consider whether it would be more advantageous for them to purchase rather than lease, taking the tax credit on their own returns. (See tax credit details for for-profit and nonprofit landlords).

How can I access the money?

Companies that wish to lease solar equipment in North Carolina must be approved by the NC Utilities Commission. The approved lessors are listed here, but most are so far offering leases only to commercial customers. 

Two of the companies approved by the NC Utilities Commission are offering residential solar leases in North Carolina: EnerWealth, and Palmetto LightReach. They are collaborating with a number of NC solar installers. If you find a lease through a different company, make sure they are either listed as an approved lessor here, or are collaborating with one of the approved lessors. 

Check the EnerWealth website for details on their solar lease, battery lease, and solar+battery lease. Read the information at those links and contact EnerWealth for a free proposal.

To find out more about the Palmetto LightReach lease, check their website here and then call them for a free proposal.

Some things you should ask before you sign a lease:

  • Will my total monthly electric costs (electric bill + lease payment) decrease immediately? If not, how much will they increase, and for how long?
  • Will the lease payment stay the same over the lifetime of the lease, or will it increase annually?

What is the timeline?

There is no deadline to apply for the lease. However, if you are interested, it would be wise to explore the option as soon as possible, since the favorable economics of the lease are based on the Federal tax credit (which expires after 2027), Duke Energy’s PowerPair program (which is a pilot that may or may not be extended), and the North Carolina leasing program established by House Bill 589 in 2017, which set a cap on how many leases may be done statewide. The leasing cap is nowhere near being met, but don’t delay!

What other incentives could I use to help me accomplish my goals?

If you have plenty of cash and/or good credit, it may be more advantageous to purchase the solar, rather than leasing it. If you wish to own rather than lease your solar, but you can’t afford to pay cash, these resources may help:

  • Your solar installer can tell you what loans are available. New loans may eventually be available through the IRA’s Greenhouse Gas Reduction Fund, once court cases holding back that funding are settled.
  • Grants or loans for solar may eventually be available to low-income homeowners (possibly by 2026) through the Solar for All program, once court cases holding back that funding are settled.
  • In July 2025, the NC Clean Energy Fund (now: Clean Energy Fund of the Carolinas) launched Carolina SURE (Smart Upgrades for Residential Efficiency), a consumer lending program for home electrification and energy efficiency improvements in North and South Carolina.
  • Check the Database of State Incentives for Renewables & Efficiency (DSIRE) for additional incentives that may be offered by your state, local government, or utility, as well as important federal, state, and local policies. For questions regarding DSIRE, contact Justin Lindemann (NC Clean Energy Technology Center) at jplindem@ncsu.edu.
  • Check out our (non-exhaustive) list of non-federal funding from other sources that may fit your energy and cost-saving goals.

Where can I get more information?

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