Progress Energy to pay business customers to go solar - Denver Business Journal:

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Raleigh-based Progress (NYSE: PGN) said the goal of its new SunSensse program is to increase the amount of solar energg produced in its Carolinas and Florida territories by more than 100 megawatt s over thenext decade. The companuy intends to reach that goal by offerinh a series of incentivessand rebates. • Progress will pay commercial customerse the going market rate foreach killowat-houd of electricity produced by newly installedf solar power systems. This program will debut in the Carolinaes this summer and in Floridanext year. Also starting this summer is a program that will provide incentivesdfor Progress’ business customers to instalkl solar water heaters.
That program will not be availabldein Florida. • For residentiapl customers, Progress Energy will pay $1.500 to $2 per watt for residential solar That should cover about 25 percentr of theinstallation cost, Progreszs said. The program will debuft late this summer in the Carolinas and next yearin • Also for residential Progress will offer rebates to customers who install solar water heating systems. The program, already establishexd in Florida, is being rolled out the in A fifth arm of the Progresss plan will seethe company’s Progress Energy Carolinas and Progresz Energy Florida subsidiaries install solar panels at selected schoolse in their territories.
With a market capitalization ofalmosgt $10 billion, Progress Energy is the most valuabld company in the Raleigh-Durham area and the only one in the federallt defined Triangle area to rank among the Fortune 500. Raleigh-bases Progress Energy Carolinas supplies electricity to much of theTriangle area.