Solar power in Charleston, South Carolina
Charleston is very lucky with its solar incentives with tax credits and rebates as well as net metering for when you aren't using all of your solar.
With state and federal level tax credits in most cases about 50% off all upfront costs of the system are covered.
With many state lawmakers believing this is too generous these incentives may be take away soon and it's essential that home and business owners interested in solar install soon.
Net Metering Broken Down
After the system is installed you'll be entitled to net metering. This agreement with your utility gives you full retail value for excess power exported to the grid.
This incentive proves invaluable in the middle of the day, when solar is producing the most power and most people are out of the house.
The average cost of installing residential solar panels in Charleston,
South Carolina in 2020 is
$2.78 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in Charleston, SC
is $13,900.
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.
What if my tax liability is less than 26% of my systems costThere is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in South Carolina is only 1199kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Charleston solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our South Carolina solar savings calculator can do this because it contains a database of the electric rates charged by Berkeley Electric Coop Inc, Edisto Electric Coop Inc, South Carolina Electric & Gas Co, South Carolina Public Service Authority
How much can solar panels save you in Charleston
What does the cost of a real solar system look like?
Facts about installing a 13.09kW solar system in Charleston, SC
This system would offset 100% of your energy usage if your typical monthly bill is $240, however your situation may vary so try our Charleston solar calculator to get a result tailored to you.
$22,595
Net cost of system
6 Years 10 Months
Average payback time
17,041 kWh
Annual power production
5¢/kWh
Levelized cost of solar energy
30¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 13.09kW system
Life-time savings on this system over the next 25 years
$95,515
(Prices shown after repayments of capital)
40
Solar companies in Charleston, SC that provide pricing through the Solar-Estimate marketplace.
Average total cost of solar panel installation in Charleston
| System Size |
Cash purchase After 26% solar tax credit |
Financed purchase After 26% solar tax credit |
|---|---|---|
| 3kw | $6,460 | $6,977 |
| 4kw | $8,495 | $9,175 |
| 5kw | $10,434 | $11,269 |
| 6kw | $12,343 | $13,331 |
| 7kw | $14,141 | $15,273 |
| 8kw | $15,925 | $17,199 |
| 9kw | $17,582 | $18,989 |
| 10kw | $19,240 | $20,779 |
Find out what system size you need for your home
Going solar in South Carolina
Check out all of the ways energy providers of South Carolina can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Renewable Energy Tax Credit | Federal | Personal Tax Credit |
| Solar Energy State Tax Credit | State | Personal Tax Credit |
| Net Metering | State | Net Metering |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.
