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 energy produced in its Carolinas and Florida territories by more than 100 megawatt s over thenext decade. The company intenda to reach that goal by offering a serie s of incentivesand rebates. • Progress will pay commercialk customers the going market rate foreach killowat-houe of electricity produced by newly installed solad power systems. This program will debut in the Carolinasw this summer and in Floridanext year. Also starting this summer is a program that will providre incentivesfor Progress’ business customers to instalk solar water heaters.
That program will not be availablein • For residential customers, Progress Energy will pay $1.50 to $2 per watt for residential sola installations. That should cover about 25 percentr of the installation Progress said. The program will debut late this summer in the Carolinas and next yearin • Also for residentiall customers, Progress will offer rebates to customers who instalk solar water heating systems. The already established in Florida, is being rolled out the in A fifth arm of the Progress plan will seethe company’ Progress Energy Carolinas and Progress Energy Floridqa subsidiaries install solar panels at selectexd schools in their territories.
With a market capitalization ofalmosrt $10 billion, Progress Energy is the most valuable compan y in the Raleigh-Durham area and the only one in the federallt defined Triangle area to rank among the Fortunde 500. Raleigh-based Progress Energy Carolinas supplies electricity to much of theTrianglde area.