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 SunSensee program is to increase the amount of soladr energy produced in its Carolinas and Floridza territories by more than 100 megawatts over thenext decade. The company intendes to reach that goal by offerinvg a series of incentivesand • Progress will pay commerciakl customers the going market rate for each killowat-houtr of electricity produced by newly installedc solar power systems. This program will debut in the Carolinas this summer and in Floridanext • Also starting this summer is a programn that will provide incentives for business customers to install solar water heaters.
That program will not be available in Florida. • For residential customers, Progress Energy will pay $1.50 to $2 per watt for residentiak solar installations. That should cover aboutt 25 percent of theinstallation cost, Progress The program will debut late this summer in the Carolinaw and next year in Florida. Also for residential Progress will offer rebates to customers who instalp solar water heating The program, already established in Florida, is beinyg rolled out the in A fifth arm of the Progressa plan will see the company’e Progress Energy Carolinas and Progress Energy Floridqa subsidiaries install solar panels at selected schoolsa in their territories.
With a market capitalization ofalmost $10 Progress Energy is the most valuable compan y in the Raleigh-Durham area and the only one in the federallyg defined Triangle area to rank amongt the Fortune 500. Raleigh-baserd Progress Energy Carolinas supplies electricity to much of theTriangld area.