South Carolina
Why Go Solar in the State of South Carolina?
South Carolina is ranked as 6th on the US National solar rating. South Carolina renewable energy sectors have flourished during the last decades, harnessing carbon free energy and creating solar jobs. Using different incentives, South Carolina aims to make solar more attractive and affordable. The incentives include Federal Solar Tax Credit, Variable (Net Metering), and Solar Panel Tax Credits. South Carolina solar panel system can make you energy independent. Moreover, you can save you a lot of cash over its life time. The state has made a dedicated effort to make investing in solar an easy choice for energy-conscious consumers.
National solar ranking | 13th (6th in 2020) |
Solar Installed (MW) | 1,781.6 |
Solar installed to power | 209,240 homes |
Percentage of State’s Electricity from Solar
| 2.18% |
Solar Jobs | 3,307 |
Total Solar Investment in State | $2.2 billion |
Prices have fallen | 45% over the last 5 years |
Growth Projection and Ranking
| 1,344 MW over the next 5 years (ranks 26th) |
Number Of Installations | 22,861 |
Is going solar worth in South Carolina?
The South Carolina solar panel system installation ranges from $13,260 to $17,940. The cost per watt ($/W) ranges from $2.65 to $3.59. The average South Carolina commercial electricity rate was 9.63¢/kWh, which ranks the state 20th in the nation. It is approximately 4.56% less than the national average. The South Carolina solar panel user can enjoy the return on investment in 8.02 years.
Many users prefer cash purchase pay for solar, which delivers a long-term value to the customers. The users can opt for different financing options to afford installations, including solar leases, PPAs, and solar loans.
What solar panels should I install in South Carolina?
The user can customize their solar panels according to their needs and demands. They can choose the batteries and aesthetic of the installation. The customizability increases the importance of understanding the various factors that can impact the solar panel’s performance. The solar panel with warranties and premium performance is more expensive. On the other hand, an in-depth analysis is required if high-efficiency solar panels and warranties can fit your needs.
How much energy can users generate in South Carolina?
Your solar panel performance depends on the quality and quantity of sunlight directly hitting your solar panel. South Carolina is one of the sunniest states in the U.S. On average, South Carolina has 209 sunny days annually. The state is known for its rain, sleet, hail that falls to the ground, and snow. The other factors which can have an impact on the South Carolina solar panel system include the following:
- Shading
- Panel orientation
- Panel angle
South Carolina Weather Highlights | |
Summer High | The July high is around 90 degrees |
Winter Low | The January low is 39 |
Rain | Averages 48 inches of rain a year |
Snow: | Averages 0 inches of snow a year |
Rebates and incentives
The federal Investment Tax Credit has been one of the most impactful and reliable incentives for solar across the U.S. the user can deduct 26% of the total system cost from his/her federal taxes. This good incentive lasts until the end of 2022, and from 2023 the tax credit amount steps will decrease to 22%. The federal ITC is eliminated for residential solar installations after 2023, but commercial solar energy system owners can still deduct 10% of a retail solar system cost from their taxes beyond 2023. Apart from the federal ITC, South Carolina offer additional incentives for going solar, including the following:
Federal Solar Investment Tax Credit | 26% federal solar tax credit is available for home solar systems installed by December 31, 2022 |
Solar Panel Tax Credits | 25% Tax Credit (of total system cost) |
Other Programs | Variable (Net Metering) |