Our professional and courteous solar consultants, project management team, and system installers will walk you through every step along the way. We also work directly with your city or county, and your utility provider, so you don't have to. We will help and advise you as to how to use the federal and state solar tax credits to save money. All you need to do is decide that solar is the right idea for you!
Thinking about solar power for your business? Going green has never been better for your bottom line. We can help you calculate a return on investment and show how solar power can have a positive impact on your business, church or school.
3 Ways to Save with Solar
The Federal government is incentivizing home and business owners to go green. They currently offer a 26% tax credit on the full cost of the system.
How does this work? It depends on how you pay taxes. If you are a salaried employee and your taxes are automatically deducted from every paycheck, at the end of the year you have paid a certain amount in taxes. Out of the federal taxes you have paid, you will get 26% of the system cost back from the government when you file your taxes. If you are a contractor, or self-employed, and you only pay taxes once each year, then you will deduct 30% of the system cost from what you owe the federal government.
If you have paid in (or owe) at least the full amount of the credit in that year, you will get back (or deduct from what you owe) the full amount in a single year. If you have paid in (or owe) less than the credit amount, you are allowed to roll over the remaining balance to the following year.
Duke Energy offers rebates to North Carolina customers who want to install a solar panel system. For homeowners, the program offers a $0.60/Watt rebate for systems up to 10 kilowatts. An average of 6 kilowatt (kW) system would be eligible for a rebate of $3,600. There are also rebates available for non-residential customers, worth $0.50/Watt up to $50,000, and for nonprofit customers, worth $0.75/Watt up to $75,000.
The South Carolina government is also incentivizing home and business owners to go green. South Carolina currently offers a 25% tax credit on the full cost of the system.
How does this work? It is paid back to you or deducted from what you owe much the same way as the federal tax credit. The only difference is how much of this credit you can claim in any one year.
Unlike the federal credit, you are not able to claim the full state credit in one year (in most cases). You can claim up to 50% of the state taxes you have paid (or owe), up to a $3500 cap, in any given year. You have 10 years to claim your full 25% state tax credit. In most cases, it will take 2-4 years to claim the full credit.
Free energy for 25+ years
We are a society of energy users from home lighting to a wide array of appliances and electronics, but our modern lives have a price, and we must pay someone for the electricity needed to power all that. This is something we cannot escape, and it is a monthly expense that continues to rise year after year. Some utilities in the state of South Carolina are averaging more than 4% increases every year! At that rate, if your average bill today is $200, in 10 years from now it will average $310 per month, and you will have spent more than $30,000! And for what? Just to keep the lights on.
There's a better way - become your own utility. Going solar will free you in whole, or in part from your monthly bill for 25+ years. Wouldn't you rather put that $30,000 in your own pocket, rather than that of your utility company?