In addition to decreasing solar costs, individuals interested in going solar in South Carolina have the opportunity to take advantage of some remarkable solar rebates and incentives which decrease the overall cost of installing a solar power system.
30% Federal Solar Power Tax Credit
The US federal government offers a tax credit to both home and business owners who install solar power. A tax credit worth 30% of the total system cost and installation is available. If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year.
25% South Carolina Solar Power Tax Credit
The state of South Carolina offers an additional tax credit for home and business owners who go solar. The South Carolina solar tax credit is worth 25% of the total cost including installation. The maximum incentive for the SC state tax credit is $3,500, or 50% of taxpayer’s tax liability for that taxable year, whichever is less. This credit has no expiration date and any excess credit may be carried forward up to 10 years.
Electric Utility Solar Power Rebates & Incentive Programs
Many utilities in South Carolina offer additional solar rebate programs that provide an extra incentive for going solar. Speak with a Southern Current representative for more details on the specific programs available in your area. Contact Us today!