Did you know that the United States surpassed 2 million solar installations? If you are considering installing solar panels in your home in Columbia, SC, and are wondering what the solar value benefits are, you are in the right place. We have put together this short guide to share why moving forward with solar panels is a good idea.
Keep reading to learn why you won’t regret upgrading to solar in South Carolina.
One of the main benefits of Columbia SC solar is that you will not only save money on your power bill but there are other financial incentives. One of those incentives is from Santee Cooper customers.
Those that are customers of Santee Cooper are eligible to receive a rebate of $1.30/W of solar energy that they install. The total rebate can be up to $5,200 per household.
Another incentive is for Duke Energy Progress customers. They are offering a $1.00 rebate for each Watt of solar power that is installed on either a home or a business without a max. This means that if you install a 6-kilowatt (kW) system in your home or business they will give you a $6,000 rebate to help cover the cost of the solar install that your solar company charges.
2. Net Metering
Another benefit of going solar in South Carolina is that there is a net metering policy in place. This means that you can bank any of the extra electricity that your solar panel system produces. Whatever goes into your bank you will receive money from the power company and you can opt to use those credits in the future during the months that your system does not generate enough electricity to cover all of your power needs.
3. Tax Credit
Adding solar power to your house will also make you eligible for South Carolina’s solar energy tax credit. This means that as a resident of the state you are allowed to claim 25% of your solar costs as a tax credit when you file your taxes. For those that do not pay enough in taxes to receive the full value of the tax credit, you don’t have to worry because this carries over for up to 10 years.
This tax credit can give you a huge break when you own a home because it will help you pay off your solar installation faster when you receive that money back from your taxes. For example, a $10,000 install will give you back $2,500 in taxes plus the other incentives from the power companies, your install can almost be completely paid off.
Ready to Add Some Solar Value to Your Home?
We hope that now that you learned how upgrading your home to solar will benefit you, you too can benefit from adding some solar value to your house. If this article helped you out today please feel free to continue browsing the rest of our home section to make sure you keep up with our latest tips and tricks