South Carolina had enough solar infrastructure installed through the third quarter of last year to power 245,627 homes, according to the Solar Energy Industries Association (SEIA).
Are you equipped to benefit from solar power? Installing solar panels on your property can increase the valuation of your home, lower your heating and cooling bills, and provide independence from the power grid.
Are you interested in learning more about solar energy in South Carolina?
If so, keep reading to learn about 10 fast facts about solar energy in the state.
1. Lots of Sunshine
South Carolina gets an average of 2,826 total hours of sunshine a year. That’s a good reason to install solar panels in South Carolina. With all of that sunshine, you’ll be able to reduce or eliminate your need for utility power.
2. Solar Panel Prices Dropping
SEIA adds that the cost of solar panels has dropped 11% over the past five years. So, if you’ve been dragging your feet on installing solar panels, now’s a good time to consider your options.
3. Solar Company Options
You won’t have trouble finding companies that perform solar installation in SC. According to the SEIA, there are 76 solar companies in the state.
4. Federal Solar Investment Tax Credit
The Federal Solar Investment Tax Credit is a 26% tax credit you can get for installing a solar system on your property. It’s good for residential and commercial installations.
People who purchase their solar systems outright — whether via a loan or cash — can qualify for this credit. You’ll want to consider options for South Carolina solar rebates.
5. Annual Solar Growth
The SEIA says that the average annual solar growth over the last 10 years is a whopping 42%.
his growth is fueled by things like solar incentives in South Carolina. If you want to know what the big deal is, learn about solar.
6. South Carolina Tax Credit
In addition to a federal tax credit, you can get a 25% tax credit at the state level. It works out to $3,500 annually for up to a decade or 50% of tax liability — whichever happens to be less.
7. State Ranks at Number 14
According to the SEIA, the state ranks at number 14 in terms of solar power installation. That’s down from number 6 in 2020.
8. Billions Invested in South Carolina
The solar sector has invested more than $2.385 billion in South Carolina, according to the SEIA.
9. Percentage of South Carolina’s Electricity From Solar
While solar energy is becoming a priority for more and more homeowners, the SEIA says that the percentage of South Carolina’s electricity from solar stands at 2.63%. So, there’s room for more growth on that front.
10. Starting Price for 6kW System
The starting cost for a 6kW solar panel system in South Carolina is about $16,500. If you’re considering switching to solar in SC, you’ll want this sort of info. Also, remember there are rebates and tax credits available.
Solar Energy in South Carolina Makes Sense
Whether or not you’re ready to take the plunge, you need to know the facts about solar energy in South Carolina.
There are many benefits to installing a solar panel system. What you’ll want to do is conduct some research, figure out what option is best for you, and hire a reputable company to install the solar panels.
Are you interested in checking out some more content on topics like technology, business, or health? You can find more articles on our website.