There are several tax incentives and rebates offered by many states, the federal government and some utility companies that can make going solar even more affordable.
South Carolina Tax Credit
In South Carolina, the state offers a tax credit of 25% of the total cost of your solar energy system. And there’s even more good news. If the credit is more than you would pay in taxes that year, you can carry it over for up to 10 years.
Federal Tax Credit
There’s also a federal solar tax credit. This pays you for 30% of the total system cost when you file your taxes. Known as the Investment Tax Credit (ITC), this credit applies to both residential and commercial systems. And there is no cap on the total credit you can receive.
The tax credit remains at 30% for both residential and commercial taxpayers through 2032.