Friday, May 8, 2009

Duke's solar project all about the Benjamins

Posted By on Fri, May 8, 2009 at 12:10 PM

Yesterday, The Charlotte Observer reported that Duke Energy threatened to ax the solar program, then promptly pulled the online article. But, don't fear: here it is.

Duke argued that limitation would place it in jeopardy of violating federal tax codes, and hinted that it might not proceed with the solar project.

Today, everything is hunky dory and the solar project is moving right along. One sentence of note in today's Observer article, "Ratepayers will pay the project's costs."

Who's that? That's right: us.

Bottom line: Duke Energy's solar program is not about being environmentally friendly; it's about maximizing profits. Shocking.

Duke Energy Carolinas will go ahead with its proposed $50 million rooftop solar program after N.C. regulators adopted a a compromise that resolved potential tax problems for the utility.

Duke wants to build and operate solar panels on the property of hundreds of residential and business customers in the state. It will own and sell the electricity the panels produce.

The N.C. Utilities Commission approved the program Dec. 31. But it imposed conditions Duke said could threaten $265 million in federal tax incentives for the utility.

Duke responded by saying it couldn’t undertake the project if the incentives were at risk.

Read the rest of this Charlotte Business Journal article here.

Ratepayers, you could always tell Duke Energy to shove off and install your own solar energy system:

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