Solar Tax Credits

Yes Solar Solutions is always working to remain our local leader in residential solar power, so we make it a priority to stay up to date with all of the energy tax credits, rebates, and financial incentives.

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North Carolina North Carolina currently has no state tax credit

Although there is no current state tax credit, the cost of solar has continued to decrease and any change in administration or utility rebates could only improve the payback. Check back here for updates.

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South Carolina South Carolina has a 25% state tax credit

South Carolina has a 25% state tax credit and generous utility rebates depending on where you live. Yes works with all utilities and is able to file rebate applications. Check our SC tax credit page for more specific information.

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Federal Personal Investment Tax Credit

A taxpayer may claim a credit of 30% of qualified expenditures for a home solar power system that serves a dwelling unit located in the United States that is owned and used as a residence by the taxpayer. Expenditures with respect to the equipment are treated as made when the installation is completed. If the installation is at a new home, the “placed-in-service” date is the date of occupancy by the homeowner. Expenditures include labor costs for on-site preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home. If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year. The maximum allowable credit, equipment requirements, and other details vary by technology, as outlined below.

    • 30% for systems placed in service by 12/31/2019
    • 26% for systems placed in service after 12/31/2019 and before 01/01/2021
    • 22% for systems placed in service after 12/31/2010 and before 01/01/2022
    • There is no maximum credit for systems placed in service after 2008
    • Systems must be placed in service on or after January 1, 2006, and on or before December 31, 2021
    • The home served by the system does not have to be the taxpayer’s principal residence.

Property Tax Abatement
80% of the appraised value of the solar photovoltaic system is exempted from property tax.

Helpful links for information about energy tax credits and solar energy incentives:
www.dsireusa.org (Database for All Incentives, both State and Federal)
www.ncsu.edu/ncsu/solar_center (NC State Solar Center)
www.energy.gov (US Department of Energy)
www.energync.net (State Energy Office)
www.irs.gov (Internal Revenue Service)

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