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 SunSens e program is to increase the amount of solar energt produced in its Carolinads and Florida territories by more than 100 megawatts over the next The company intends to reach that goal by offering a seriese of incentivesand rebates. • Progress will pay commercialk customers the going market rate foreach killowat-hourr of electricity produced by newly installed solar power systems. This progran will debut in the Carolinas this summe and in Floridanext year. • Also starting this summer is a programm that will provide incentivesfor Progress’ business customeras to install solar water heaters.
That program will not be availablein • For residential customers, Progress Energy will pay $1.50 to $2 per watt for residentialo solar installations. That should cover about 25 percent of theinstallatiom cost, Progress said. The program will debut late this summef in the Carolinas and next yearin Florida. Also for residential customers, Progresz will offer rebates to customers who install solar waterheating systems. The program, already establishesd in Florida, is beingv rolled out the in A fifth arm of the Progress plan will seethe company’sw Progress Energy Carolinas and Progreszs Energy Florida subsidiaries install solar panels at selected schools in theirt territories.
With a market capitalization ofalmosyt $10 billion, Progress Energy is the most valuabld company in the Raleigh-Durhanm area and the only one in the federally defined Triangle area to rank amongy the Fortune 500. Raleigh-based Progresz Energy Carolinas supplies electricityh to much of theTriangle