SOLAR TAX CREDITS IN SOUTH CAROLINA

image1

Utility Solar Power Rebates & Incentive Programs

SCE&G’s Solar Power Net Metering Offer

Local homeowners have access to one of the best solar programs in the state! Under SCE&G’s Solar Power Net Metering Program homeowners can receive FULL RETAIL RATE for all of the energy that is produced by a solar panel system. The process is called “net metering” and allows homeowners who produce their own power from renewable sources to be fairly compensated, including a credit that can be rolled over to the next month.

Federal Tax Credit, info, solar, irs, Department of Energy, Federal funding, solar, panel,

How the Federal Tax Credit Works

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 solar 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.

image2

How the State Tax Credit Works

The state of South Carolina offers an additional tax credit for home and business owners who switch to solar energy. The South Carolina solar tax credit is worth 25% of the total cost including installation. The maximum incentive for the SC state solar tax credits is $35,000, 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.


Federal Solar Tax Credit Explained