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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 one company is offering a residential lease in North Carolina (see below). If more providers emerge, we will add them on this page.

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. EnerWealth Solutions, a solar company in Durham, NC,  is so far the only approved NC lessor to offer a residential and battery lease. The other lessors (listed here) are so far offering leases only to commercial customers. If more companies begin to offer residential leases, we will list them on this page.

Details on the EnerWealth lease are here. Read the information at that link and contact EnerWealth for a free proposal.

EnerWealth is taking advantage of a Duke Energy pilot program known as PowerPair, which provides incentives for homeowners who install solar and a battery together. By combining these incentives with the federal tax credit, EnerWealth can design lease options that often deliver immediate savings. In many cases, the reduction in your electricity bill will be greater than the monthly lease payment. While results vary depending on your home, EnerWealth will provide a personalized estimate of your expected savings before you sign a contract.

What is the timeline?

There is no deadline to apply for the EnerWealth 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), the 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, 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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