Rockingham County deputies were called out to the crash along Rosewood Road around 1:30 p.m. On arrival, officers found the helicopter engulfed in flames.
Two crewmembers made it out of the wreckage and notified first responders that a third member, the pilot, did not make it out of the helicopter.
Crews worked to extinguish the flames and later found the pilot dead. Authorities have not released the name of the pilot at this time.
One of the injured passengers was airlifted to a local hospital while the other was rushed to another hospital by ambulance.
A spokesperson for Duke Energy said the helicopter was conducting a "route inspection" of power lines at the time of the accident.
"Though this was a horrific scene and a tragedy for the pilot and his family, who will remain in our thoughts and prayers," the spokesperson wrote in a statement.
The cause of the crash is currently being investigated by the Federal Aviation Administration, Rockingham County emergency services and the company itself.