Benefits of Solar Energy
Solar energy offers multiple advantages. Let's look at a few of them.
- Lowered energy bills: With a solar array, you generate power without paying the tacked-on costs of grid-connected power. Going off-grid can eliminate your bills completely. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can lower or beat your home's dependence on non-renewable sources.
- Better energy independence: Solar panel systems can keep your home functioning through emergencies and blackouts. You can use your solar energy anytime with optional battery backup.
What Solar Incentives Are Available to Mount Pleasant Homeowners?
South Carolina homeowners who go solar could qualify for reimbursements, special financing, tax credits and rebates. Here are just a few of the local incentive programs.
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: Rebate Program
Website: berkeleyelectric.coopIncentive Amount:
Geothermal Heat Pump: $250/ton
Dual Fuel System: $500/home
Water Heater: $200 - $400
Incentive Type: Loan Program
Website: berkeleyelectric.coopIncentive Amount:
HomeAdvantage: $15,000
Energy Advance: $20,000
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 Mount Pleasant
The cost and efficacy of solar panels often depend on the solar company that installed them. Here are some important factors to bear in mind while searching for a solar installer.
Licensing and Training
South Carolina law draws a difference between mechanical and general contractors for solar energy work. Licensed mechanical contractors can install or repair any solar PV system rated for between 50 and 600 volts if they have an electrical Certificate of Authorization. Solar thermal installers need a Certificate of Authorization in plumbing and a supervising licensed plumber on their team. You should also visit a company's website to learn about its private certifications. Two of the most recognized are the Solar Heating Installer and PV Installation Professional certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Mount Pleasant
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor provides these extras, so look for a provider that installs them if it's a priority for you.
Generally speaking, it will cost about $17,250 for a five-kilowatt solar array in Mount Pleasant. This table displays more specific prices for different solar panel types and system components in your area.
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 Mount Pleasant
Solar contractors use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are cash payments, solar loans, power purchase agreements (PPAs) and solar leases. Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to an auto or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) permits you to pay a monthly rate determined by the energy you use, like an electric bill. We usually don’t recommend these two options because you won't own the panels and are disqualified from using solar incentives. We suggest working with a contractor that offers multiple financing options. Ask each salesperson about what's available, and obtain more than one estimate for the best odds of keeping within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Mount Pleasant.
The IRS allows you to claim a 26% federal solar tax credit on your new solar panels, so long as you purchase it before 2032. City and state governments and utilities might also offer their own financing programs, incentives, and rebates that could save you more money.
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 |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Mount Pleasant
How much energy and money could I save per year by switching to solar?
How common is solar energy in Mount Pleasant?
Should I expect a property value increase after adopting solar power?
What if I live in a gloomy or heavily-wooded
What can I do to calculate my home's solar viability?
What size should my new Mount Pleasant solar system be?
What is "net metering," and how does it work?
Some states or energy providers oblige you to participate in net metering when installing your solar system, while others give you a choice. Either way, once you join, you'll earn a bill credit or check for your excess generation at a retail or wholesale rate.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.