South Carolina is a great place to install solar panels. This energy-efficient upgrade can be installed at a fraction of the cost of grid electricity. The 30% federal tax credit is available for 8 years and can be used for any size system. South Carolina also offers 25% tax credits. Tax credits can be used to cover up to 55% the cost of installing solar panel systems.
Tax credits
South Carolina offers a tax credit up to 25% for solar power systems. This credit is approximately $1,500 per solar panel. These credits do not have an expiration date and can be carried forward for up to ten years. The state's solar tax credit policy has its disadvantages.
South Carolina solar panels cost around $12,000 to $25,000. This depends on the size of your house and the number of panels required. Permits and labor costs in your area can also affect the cost of installation. The initial costs of installation can be offset with federal and state tax credits. The net metering program, which allows you sell excess solar power back to your electric business, will also help you offset the tax credit.
Utility rebates
Utility rebates for solar panels in South Carolina can be a great way to offset the cost of installing solar panels. These incentives can be used by both residential as well commercial customers. Santee Cooper, for instance, offers a $1.05 per watt rebate for residential solar systems up to 20 kW in capacity. Before you decide to sign up, make sure to review all details.
There are a number of solar incentives in South Carolina, including a $1000 rebate for solar water heaters, solar production equipment, and solar energy system installation. Santee Cooper, a state-owned utility can provide production tax credits.
Energy-efficient upgrades
Solar panels are an environmentally-friendly way to reduce your utility bills. Solar panels are currently installed in more than 200 homes in South Carolina. This state provides many benefits to solar panel users, including an exemption of property tax. Your contribution will also help to clean the environment and create new jobs.
South Carolina has an extremely wide range of temperatures which makes solar energy very affordable. A large solar array can provide clean energy and reduce utility bills. The cost of solar panels is falling and incentives are available to make it worthwhile.
Solar panels are expensive
South Carolina homeowners are turning to solar panels for energy. South Carolina ranks 14th in renewable energy, and has enough solar energy for over 200,000 homes. South Carolina's solar prices have declined steadily over the last five years. If you are thinking about installing solar panels on your property, consider South Carolina's solar tax credit.
The cost of installing solar panels in South Carolina will vary depending on the size, configuration, solar component, permitting, and other factors. A typical residential solar system will cost between 3 and 5 dollars per watt. With state and federal incentives, solar panels can be less expensive. After the system is up and running, it's possible to break even within six to nine year.