Check out the possible returns from the two best ways to go solar in South Carolina:
Solar loans are now available with interest rates as low as 4%. You can get solar panels for no money down and pay over the next 15 years. Your loan payments will be equal to about what you save every month on your electric bill. The loan payments are so low because you can get a $5,000 Duke Energy Progress rebate off the initial cost of the system.
At the end of the first year, you get the Federal solar tax credit, equal to 30% of the cost of the system (about $3,500 for a typical system). That’s a huge amount of money in your pocket right away!
On top of that, you get the South Carolina solar tax credit, worth 25% of the costs (up to $3,500). Between those incentives, your solar panels will be half paid off only a year after you turn them on.
Every home is unique, and your savings may be different based on your roof size and unique needs. To get a custom estimate of your solar savings, click on the button below!
A typical home in South Carolina needs a 5-kilowatt (kW) solar system to produce about half of its energy needs per year. That’s about $725 worth of savings every year—enough to pay back the initial cost of installing a system in just 9 years.
You put down $16,650, then get a rebate of $5,000 right away (Duke Energy Progress only). Over the course of a year, you save $725 on electricity, and get TWO tax breaks worth an estimated $7,995. After all those incentives, the 1st-year cost of that 5-kW system is just $6,930.
Modern solar panels come with a 25-year warranty, which ensures you’ll keep saving for long into the future. That warranty is a promise that the panels will operate above 80% efficiency by the end of the 25-year period. In our calculations, we assume a standard 0.7% per year decrease in panel output, which is standard for the industry. Most quality solar panels should last for much longer than 25 years, extending your savings for another decade into the future.
Ready to get a custom quote for your home? Just click the button below and give us a few details so we can find the best deal for you!
Keep in mind, the numbers above are based on an average home in South Carolina. If you’re ready for a custom quote for a solar ppa, loan, or purchase, our network of experts are on call to assist you. Simply sign up for personalized assistance on our special solar deals page.