Benefits of Installing Solar Panels in South Carolina
The benefits of installing solar panels in South Carolina are not only about energy efficiency. Having solar modules is also environmental-friendly and offers financial incentives. Here are the reasons why you should make the move to solar energy in your home or business:
1. The federal government offers a 30% tax credit for solar installation costs.
a. In 2011, for depreciable property, the federal government started offering a cash rebate program called the Section 1603 grant program, in which the federal government will convert your tax credits into a rebate check.
b. Visit DSIRE Insight’s website for more information and consult your tax professional.
2. The state of South Carolina offers a 25% tax credit for solar installation costs.
a. The credit can be taken over 10 years, up to $3,500 per year.
b. For your state’s incentives, visit DSIRE Insight’s website for more information and consult your tax professional.
3. The responsible use of renewable energy, both environmentally and socially, helps reduce carbon footprints.
4. Using solar energy reduces the effect of rising energy costs and provides cost control against inflation.
5. You have protection against power outages because of solar battery backups.
6. Having a solar panel system provides you with an option to withdraw from the electric grid completely.
7. It adds value to your home for resale purposes.
8. Solar panels prolong the life of your roof.
9. You can potentially sell renewable energy certificates (RECs).
10. You might be able to make money or account credits through “selling” excess power to the electric company.
Notes:
*Credit is a dollar-for-dollar offset against liability, which is generally much more favorable than a deduction.
*Solar installation includes the equipment costs as well as the labor.
Resources on Renewable Energy Tax Credits
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We have been in business for more than 46 years, so rest assured that we know solar panels, their components, and their benefits best. Contact us to learn more about this excellent energy-saving technology we offer for residential and commercial properties.
164 Market St #116 Charleston, SC 29401
164 Market St #116 Charleston, SC 29401