South Carolina’s beautiful beach weather makes for more than just luxurious summer vacations – it’s also a great state for solar. Thanks to year-round sunshine and great solar incentives, homeowners in the Palmetto State can save thousands when they install a solar panel system on their roof.
What are the best South Carolina solar tax credits and rebates?
With South Carolina solar incentives and rebates, homeowners going solar in the Palmetto State can save thousands on their solar panel installation costs. South Carolina solar shoppers are seeing major 20-year solar when they take advantage of these state and local incentives:
South Carolina solar energy tax credit
Cut the cost of installing solar on your home by a quarter with South Carolina’s state tax credit for solar energy. Residents of the Palmetto State can claim 25 percent of their solar costs as a tax credit – and if you don’t pay enough in taxes to get the full value of the credit in one year, it carries over for up to 10 years.
Utility solar power incentives
Depending on your utility, you might be able to get an additional rebate to cover the cost of your solar panel system, or earn payments for every kilowatt-hour (kWh) of electricity that your solar panels generate:
- Duke Energy Progress: Customers of Duke Energy Progress can get a $1.00 rebate for every watt (W) of solar power they install on their home or business. For an average 6-kilowatt (kW) system, that’s an extra $6,000 in your pocket to help cover the cost of going solar.
- Santee Cooper: Thanks to a new incentive program, Santee Cooper customers are eligible for a rebate of $1.30/W of solar energy that they install on their roofs, up to $5,200.
- South Carolina Electric & Gas (SCE&G): SCE&G has a payment program that “steps down,” or reduces in value, as more solar power is installed in the state. Depending on how quickly you install your solar panels, you are eligible for a payment of anywhere from $0.01 - $0.04 per kWh of energy your panels produce.
South Carolina solar power: the key benefits and incentives
Net metering in South Carolina
If you decide to go solar, net metering is an important policy to understand. Like many other states, South Carolina has a net metering policy that lets homeowners with solar energy systems “bank” the extra electricity their solar panels produce – when you need more power than you’re generating, you can use your credits to make up the difference.
Check out the top utility net metering programs in South Carolina:
Federal solar tax credit (ITC)
One of the best solar incentives out there, the federal solar tax credit, also known as the Investment Tax Credit, cuts the cost of going solar by 30 percent. You can reduce your federal taxes by 30 percent of your total system costs – and if you don’t pay enough in taxes to claim the credit in one year, it carries over into future years.