South Carolina is famous for touristy beaches, Civil War history, and that refreshing summer staple, sweet tea.
But did you know the Palmetto State is also increasingly known for its enthusiastic adoption of solar energy? Investment in solar power in South Carolina is on the rise among homeowners and business owners.
Read on for a list of interesting insights into going solar in South Carolina.
1South Carolina Was an Early Solar Adopter
South Carolina really started paying attention to residential solar energy in 2016. But did you know the state actually created its first solar energy tax credit way back in 2006? That’s just one year after the federal solar tax credit–part of the Energy Policy Act–was released.
Today, solar panel installation costs an average of $15,000, and the cost per watt is about $1.50. South Carolinians who decide to invest in solar can expect a payback period of about eight years. This refers to the amount of time it takes to recover your investment through utility savings.
2Solar in South Carolina Is at Nationally High Levels
Right now, South Carolina solar energy consumption ranks 13th among all American states. The state generates 2.35 percent of its power from solar energy.
There are a few factors that contribute to this ranking.
There are a rising number of reputable providers of solar energy in SC, including over 30 installation companies like Blue Raven Solar, around 16 manufacturers, and periphery businesses. Prices to install solar have also fallen by almost 50 percent in the past five years, making the investment more attractive to home and commercial building owners.
3South Carolina’s Sunshine Hours Are Ideal
If you want to install a solar panel in South Carolina, it pays to know what the sunshine hours are like. Sunshine (or solar radiation) hours matter because they determine how much energy your panels will be able to collect.
Thankfully, South Carolina has abundant sun, with the National Climatic Data Center reporting over 200 sunny and partially sunny days for most parts of the state. In addition, yearly sunshine percentages max out at around 60 percent–a rate that’s ideal for solar energy collection.
4Attractive South Carolina Solar Incentives
Of course, all South Carolinians can access the federal Investment Tax Credit (ITC), which offers a 26 percent deduction on solar system costs. But are there any state-specific incentives? The answer is yes!
South Carolina offers two attractive solar incentives.
The South Carolina Solar Tax Credit gives you 25 percent back on solar system purchases. It maxes out at a $3,500 reduction.
Then there’s the Santee Cooper Solar Rebate Program, which offers Santee Cooper customers a cash incentive for each installed solar energy kilowatt. This option maxes out at $1,200.
There are also some additional incentives worth exploring for Duke Energy Progress and South Carolina Electric and Gas customers.
Solar Power in South Carolina Explained
If you’re thinking of investing in solar power in South Carolina, you can rest assured that you’re in the right state. With ideal yearly sunshine hours, excellent incentives, and various installation companies to choose from, you’re almost guaranteed a good return. You can save money while doing your bit to help the Earth.
For more helpful insights into the state of solar energy across America, read the other articles on our blog.