Benefits of Solar Energy
Solar energy offers multiple advantages. Let's look at a few of them.
- Lowered energy bills: You can avoid the expensive cost of grid-tied power by creating some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back for credits on your bill.
- Better energy independence: Solar panel systems with battery backups and storage systems function through power outages and emergencies, and you won't have to depend on your power company for your safety and well-being.
- Reduced carbon footprint: The sun is the universe's most abundant clean energy source, meaning you can lower or beat your home's dependence on non-renewable sources.
What Solar Incentives Are Available to Charleston Homeowners?
South Carolina's public agencies and power companies offer a number of solar incentives to help cut your solar system costs. Check out a breakdown of applicable solar programs where you live.
Incentive Type: Property Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Rebate Program
Website: santeecoopersolar.comIncentive Amount:
Residential and Commercial: $1.05/W
Non-Profit: $1.30/W
Incentive Type: Corporate Tax Credit
Website: energy.sc.govIncentive Amount:
25% of eligible costs
Incentive Type: Personal Tax Credit
Website: energy.sc.govIncentive Amount:
25% of eligible costs
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Charleston
Choosing a company is the first step toward a well-oiled and valuable solar array. Make your choice based on the following important considerations.
Licensing and Training
South Carolina differentiates between mechanical and general contractors for solar energy work. A licensed mechanical contractor can install or repair any solar PV system rated for between 50 and 600 volts if they have an electrical Certificate of Authorization. If a company installs solar thermal systems, they need a Certificate of Authorization in plumbing and a supervising licensed plumber on their team. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Charleston
Your photovoltaic panels' style will influence how much energy you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can enhance your solar system's efficiency. Not every solar contractor includes these extras, so look for a provider that installs them if it's a priority for you.
A majority of Charleston homeowners select solar systems sized for five kilowatts (kW) of electrical capacity. These systems run about $17,250 to set up, considering both materials and labor. You can find more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,175 |
Solar Polycrystalline | $916 |
Thin-Film | $536 |
Solar Battery | $752 |
Solar Home EV Charger | $2,819 |
Financing Solar Energy in Charleston
There are many ways to pay for new solar panels, and the right one will lower your costs. A few of the most common options include loans, cash payments, power purchase agreements (PPAs), and leases. We advise making a cash payment or securing a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) enables you to pay a monthly rate based only on the energy you use, as with an electric bill. We typically don’t recommend these two choices because you won't own the panels and cannot use solar incentives. Ask each installer you're considering about the payment options it offers. A consultant can help you determine the optimal option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Charleston.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. City and state officials and utility companies might also offer rebates, discounts, and unique financing solutions that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 1.9 years |
2 kW | 3.8 years |
5 kW | 9.5 years |
10 kW | 19.0 years |
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Frequently Asked Questions About Solar in Charleston
How much money could I save by going solar in Charleston?
Is solar energy easily accessible in Charleston?
Should I anticipate a property value increase after installing solar panels?
Could I still use solar power if I live in a wooded, rainy, or dark area?
How do I care for my new solar system?
How long does it take to pay back a solar loan in Charleston?
How are a solar lease and PPA different?
If you choose a lease, you'll make fixed monthly payments.
With both leases and PPAs, you do not own your panels and lose eligibility for most incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
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