Our customers in North and South Carolina have been receiving tax credits from our installations since 2010. The combination of federal and state tax credits typically reduce the price of the solar installations between 30%-55%. As we are just solar nerds and installers (and not tax accountants), 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.
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, Solar Hot Water, Solar attic fans as well as many of the other energy efficient products qualify for up to 55% in tax credits. Out of the 55%, 30% comes from the Federal Residential Renewal Energy Tax Credit and 25% comes the SC State Renewal Energy Tax Credit.
The limitations related to receiving the tax credit is primarily related to having taxable income as well as annual limits on the max state credit in any given year.