14 Best Solar Companies in Myrtle Beach, SC (Oct 2022 Review)

The Cost and Benefits of Solar in Myrtle Beach

For many homeowners, whether or not you should invest in solar panels depends the most on the cost. A few important factors that determine the cost of installing solar panels on your home and how much it could save you over time include:

• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, allows you to deduct 30% of the cost of your solar system installation from your taxes. Plus, not including incentives, you can save about $22,000 over 20 years on your energy bills.
• Choice of solar panels: The kind of solar panels you get will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also lead to more savings over the lifetime of your system. If space isn't a constraint for your project, you can go with a higher number of more affordable panels.
• The amount of sunlight your rooftop gets: Due to Myrtle Beach's very high amount of average daily sunlight, you should be able to save a lot on your electricity bills.
• Electricity consumption: The average household in Myrtle Beach uses a lot of energy, and consequently may see more savings on electricity bills than other places.

Though a solar panel system costs a sizable chunk of money upfront, it can save you a considerable amount in the long term. The question of how much, though, depends on several factors, like the size of your house and your local electricity rates.

Solar Incentives in Myrtle Beach

One of the good things about installing a solar panel system is earning federal and potentially state incentives. Regardless of what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which lets you claim 30% of how much your solar project cost when you file taxes, reducing the amount of taxes you owe that year. In addition, there may be some local incentives that can save you some extra money too. In the table below, you can find out about the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Myrtle Beach

There are tons of reasons to trade traditional energy for solar energy, like saving on electricity bills and helping to reduce your carbon footprint. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Myrtle Beach, though. If your household uses lots of energy, you can impact the environment even more by switching to solar power. In Myrtle Beach, the average homeowner can reduce their carbon footprint by 70 pounds a year after going solar. As you can see, trading traditional energy for solar has so many other perks besides saving money. One of the primary ones is that you can help save the planet too.