Tax Credits, Green-Friendly Impression, & IRR
There are very few other upgrades that you can make that will offer as high a return. Utility incentives and tax credits can help with the total cost of your system.
With current legislation, federal tax credits may be able to account for nearly 26%. 100% bonus depreciation and potential government grants could make the cost even lower.
We have seen the following benefits for our clients, depending upon the space they have available for solar panels:
- System costs lowered by substantial amounts;
- Double-digit IRRs; and
- Future energy electricity costs nearly zero.
And it isn’t just about the cost savings; by going green, you make the impression that you care for the environment and the footprint that you leave on it.
Solar Tax Credits & Incentives in South Carolina
South Carolina homeowners with sufficient tax liability can take advantage of state tax credits for the purchase and installation if their solar panel system. For a database of tax credits and incentives for solar, visit EnergySaver.SC.GOV.
Important note about tax credits: Tax credits can reduce a consumer’s tax liability, but the credits are non-refundable— meaning that they only apply if a consumer owes enough in taxes to balance the credit. Consumers will not receive a check if they do not owe taxes. Consult a tax advisor.
For additional information on the Federal & State Tax Credits, please visit:
Please consult with your accountant or tax preparer to confirm your ability to receive solar tax incentives.