WASHINGTON (dpa-AFX) - Duke Energy (DUK) has expanded incentives and eligibility for its residential and business energy efficiency and demand response programs in South Carolina, effective August 1, 2025, following approval by the Public Service Commission of South Carolina.
According to Duke Energy South Carolina President Tim Pearson, some program incentives have doubled or tripled, making it an ideal time for customers to invest in energy-saving upgrades or enroll in incentive programs. He also noted that the recently enacted S.C. Energy Security Act supports these initiatives and lays groundwork for further expansion.
For residential customers, Duke Energy now offers a free Home Energy Assessment that includes complimentary installation of energy-saving items such as smart power strips, efficient showerheads, and caulking.
The company has also expanded rebates through its Smart $aver® program for upgrades like insulation, smart thermostats, and energy-efficient water heaters. Additionally, customers can earn increased bill credits for shifting energy use during peak hours, with extra incentives available for electric water heater owners through the Power Manager® and EnergyWise Home® programs.
For business customers, Duke Energy has increased capacity credits in its PowerShare® program from $3.50 to $5 per kW for load curtailment. The EnergyWise Business program, modeled after the residential EnergyWise Home offering, now provides improved incentives.
Additionally, many energy efficiency program rebates for businesses have been raised by an average of 20 percent to 25 percent. For income-eligible customers, expanded support in 2025 includes more opportunities for energy savings and payment assistance through government and nonprofit aid, along with Duke Energy's Share the Light Fund®, which offers financial relief to those facing hardship.
DUK currently trades at $124.18 or 1.03% higher on the NYSE.
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