Residential Solar Tax Incentives
Residential solar tax incentives have been a major support for our customers in North and South Carolina. The combination of federal and state tax credits typically reduce the price of the solar installations between 30%-55%.
We are just solar consultants and installers (and not tax accountants) – therefore we recommend that you talk to your accountant on your eligibility to receive these tax credits. For your convenience, we describe the primary solar tax incentives below for each state that we serve.
Federal Tax Incentives:
30% Federal Tax Credit on Renu Energy Installations
The federal tax credit applies to all Renu Energy installation costs (all inclusive) of Solar Electric, Solar Hot Water and Solar attic fans. There is no max limit on the federal tax credit except, that to receive the credit, you have to have a personal tax liability to offset. This web page does not constitute tax advice: please consult your tax preparer to determine how you can use these incentives.
South Carolina Solar Tax Incentives:
Up to 55% off the complete installation costs in South Carolina
Renu Energy Solutions installations of solar electric systems qualify for up to 55% in tax credits. So do solar attic fans and solar hot water systems. Out of the 55%, 30% comes from the Federal Residential Renewable Energy Tax Credit and 25% comes the SC State Renewable Energy Tax Credit.
Some limitations apply to how the tax credit may be taken, primarily related to having taxable income at a certain level, as well as annual limits on the maximum state credit in any given year. Speak with your tax preparer!