Are Solar Panels Worth It in South Carolina

Are you thinking about getting solar power in South Carolina? Are solar panels worth it in South Carolina? SC is ranked 14th in the country for using solar energy. But, people in South Carolina pay more for solar equipment than the national average, and they pay less for electricity. So, some people wonder if it’s a good idea to go solar, especially since the main benefit is saving money on electricity bills.

In general, yes, going solar can be a good idea, but not everyone will save money. Here’s a guide to help you figure out if solar panels are right for you and if they can help you save money. We’ll also talk about the good things about switching to solar power and what you should think about when you’re getting solar panels.

In 2023, the average cost for a 6-kilowatt home solar system is $18,000. That’s before any discounts. With the federal tax credit, the cost goes down to $12,600. South Carolina also has a solar credit that gives you up to $3,500 per year. So, if you live in South Carolina, you could pay off the cost of your solar panels in about five to eight years.

 

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Are Solar Panels Worth It in South Carolina

 

Incentives and Solar Rebates in South Carolina

A rooftop solar system that’s the right size can reduce most of a home’s electric bills. A 5 kW system costs about $83 each month on average. By using this system, a homeowner can save up to $28,900 on their electric bills.

2023 is the ideal time to install solar power in South Carolina.

  • The federal credit for solar systems is now at 30%.
  • South Carolina offers a solar tax credit equal to 25 percent of the cost of a system.
  • Solar energy is bought back by utility companies.

South Carolina’s Energy Freedom Act

The law says that if homeowners decide to go solar before June 1st, 2021, the electric companies in the state have to give them a solar billing plan. Those homeowners can stay on this plan until May 31st, 2029.

After June 1, 2020, the law made the electric companies create a new net metering program. Duke Energy’s new solar billing started in 2022, and it made it so that solar homeowners could save less money on their electric bills.

Are There Any Drawbacks to Going Solar in South Carolina?

Solar in South Carolina faces a big challenge: the rules for how homeowners save money with solar power are changing. Duke Energy, one of the big electric companies, changed its program, so now homeowners save less money. This means that investing in solar might not be as good as before, especially as more electric companies make similar changes.

In South Carolina, there isn’t a set rule for how different parts of the state connect to the electric grid. This means that each electric company can decide its own rules and prices.

The Southern Environmental Law Center has a helpful tool. It lets people check if an electric company charges extra fees in South Carolina and how much those fees can add up to. The tool found that these fees might be more than $8,600 over 30 years. The tool also figures out how much homeowners save with net metering for different electric companies.

 

Are Solar Panels Worth It in South Carolina

 

How Can I Save More on Energy in South Carolina?

A nearby installer can help you figure out if going solar is a good deal for you. They’ll also tell you about different ways to pay for it, like solar leases or loans. Picking the right way to pay can make going solar in South Carolina cost less.

When you’re thinking about getting solar panels for your home, don’t forget about making your home more energy-efficient. Upgrading things like appliances and light bulbs can help you use less energy. This means you’ll get more value out of the energy your solar system sends back to the grid.

How Much Is It to Go Solar in South Carolina?

In South Carolina, solar panels cost about $2.72 per watt, which is a bit more than the national average of $2.66 per watt. So, if you decide to go solar in South Carolina, your money won’t stretch as far as it might in other states.

After taking advantage of the federal tax credit for solar, the average South Carolina home needs an 11 kW system, costing around $20,944 to install. Solar panels work well in places where electricity prices are high, and South Carolina’s prices are just below the national average. Also, the state uses more energy than usual. This makes solar panels more valuable in South Carolina compared to other states.

Wrap-Up: Are Solar Panels Worth It in South Carolina?

Putting up solar panels can make your carbon footprint smaller, and it can save you a lot of money on your utility bills.

But, solar might not work for every home or person. So, it’s a good idea to check if solar is right for you before choosing clean energy.

Think about how much energy you use each month, how efficient your home is, how much the whole solar system costs, the size of the system your home needs, and if there’s shade on your roof. All these things are important.

We suggest getting in touch with a local company to find out if investing in solar energy is the right choice for you.

Ready to explore if solar is the right choice for your South Carolina home? ESD Solar offers free consultations and can answer any questions you might have. Contact them today to schedule an appointment and take the first step towards a brighter, more sustainable future.

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CONTACT US AT (800) 425 1175

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