Solar is on the rise for South Carolina, with a 32% pricing decrease over the last 5 years with 830 megawatts installed placing the state 16th in the nation for total installed solar capacity. There is enough solar now in the state to power over 97,000 homes, and its expected that over 1,600 more megawatts will be added over the next few years.
It’s time to start the trend in your community! Join your neighbors and start lowering your monthly expenses. Then, recommend your family and friends ─ we’ll reward you with $500 for every completed solar installation.
Incentives, Rebates, & Tax Credits Available in South Carolina
The ITC is a driving force behind increased solar adoption in the United States. Since its implementation in 2006, solar installation has grown by over 1600% with an average annual growth rate of 76%.
The tax credit is available for purchased solar systems is worth 26% of the cost of the system, which is paid back to the homeowner and determined by the amount of the individual’s taxable income that year.
Net metering is a utility billing system the will credit homeowners for an excess electricity that their solar system produces. The excess power is sent back into the grid for community use through a bidirectional meter. The credits provided are meant to supplement the homeowner’s energy use at night or when it’s cloudy when the system isn’t producing as much.
The state of South Carolina offers a 25% tax credit of the total cost of your solar system, worth up to $35,000 – so up to $3,500 per year for up to 10 years. This is an added savings benefit to accompany the federal tax credit that has helped motivate the solar boom since 2006.
Want to take advantage of these great tax incentives?
South Carolina is projected to add another 1,651 MW to its portfolio over the next 5 years. With nearly 19,000 total solar installations completed, here are some additional stats regarding South Carolina’s solar landscape: