2023 Solar Incentives Guide for Golden Grove, SC - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Golden Grove.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2023 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Golden Grove solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Golden Grove?

Duke Energy (Electric) - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Central Air Conditioning or Heat Pump: $300 - $400 + $50 with added smart thermostat
Geothermal Heat Pump: $400 + $50 with added smart thermostat
Heat Pump Water Heater: $350
Attic Insulation or Attic Air Sealing: $250
Duct Sealing: $100
Variable-Speed Pool Pumps: $300

Renewable Energy and Energy Storage Property Tax Exemption

Incentive Type:
Property Tax Incentive
100% exemption

Santee Cooper - Rooftop Solar Rebate Program

Incentive Type:
Rebate Program
Residential and Commercial: $1.05/W
Non-Profit: $1.30/W

Solar Energy, Small Hydropower, and Geothermal Tax Credit (Corporate)

Incentive Type:
Corporate Tax Credit
25% of eligible costs

Solar Energy, Small Hydropower, and Geothermal Tax Credit (Personal)

Incentive Type:
Personal Tax Credit
25% of eligible costs

Blue Ridge Electric Cooperative - Heat Pump Loan Program

Incentive Type:
Loan Program
Homes:
One heat pump: up to $10,000
Two or more heat pumps: up to $15,000
One geothermal heat pump: up to $10,000

Mobile home
One heat pump up to $8,000

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
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.

Source: https://www.dsireusa.org/


Solar incentives are intended to encourage homeowners to make the switch to renewable energy by offering incentives meant to lower the financial burden of solar panel installation and use. You may be eligible for different types of incentives, including discounts, cash back or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the state of South Carolina and others from the federal government. Types of solar incentives might include:

  • Rebates: Rebates, or partial refunds after a purchase, are usually given before any solar tax credits are calculated. These rebates may be provided by your local utility company, by your state or by your county.
  • Tax Credits: Tax credits decrease, dollar-for-dollar, the total amount of tax you owe the government. These are different from tax deductions.
  • Tax Exemptions: Your solar panel system may qualify for exemptions on both sales and property tax. Sales tax exemptions are effective at the time of purchase. Property tax exemptions let you ignore the added value of the solar panels when calculating property taxes on your home.
  • Net Metering: Net metering is an incentive you can get after your solar panels are up and running. If you've signed a net metering agreement with your Golden Grove utility company, the company will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some places, this is a dollar-for-dollar credit, while in other places you might receive a refund equivalent to a percentage of the value.

Federal Solar Incentives

When people think of solar incentives, federal incentives might be the first thing that comes to mind. The solar incentive that you may be most familiar with is the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a percentage of the cost of your solar system.

The ITC applies to solar panels installed on your primary or secondary residence in the United States. The solar panels must have been installed after January 1, 2006 on a property you own for you to claim the credit. The ITC originally paid out 30% of all system costs (panels, accessories, equipment and labor), although the covered amount has fluctuated over the last few years between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the amount you can claim.

To find out exactly how much money the ITC could save you, get in touch with your local Golden Grove solar panel installation expert.

In August 2022, the ITC (now titled the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. Homeowners are now eligible for a credit of 30% of the total costs of solar system installation for projects that began after January 1, 2022 and will be finished by the end of 2032. This percentage will then begin to decrease annually until the Clean Energy Credit ends in 2035. Beginning in 2023, it will also be easier to claim credits for energy storage systems with the new act.

More information about the new Inflation Reduction Act can be found here. The easiest way to understand how the new Clean Energy Credit might apply to you is to get in touch with your local Golden Grove solar panel company.

State & Local Solar Incentives

Some solar incentives are often also offered at the local or state level. Similar to federal incentives, these might include rebates, tax credits and more. Incentives might be given by your county or municipality, or by the state of South Carolina. Certain incentives may be available for only a limited time, while others are ongoing.

Next Steps for Installing Solar in Golden Grove

You can qualify for solar incentives from the federal government and the South Carolina government, as well as from your local utility company. Growing availability of solar initiatives over the last 15 years has helped increase nationwide solar energy use enormously. Reach out to your local solar panel installation expert today to find out more information and to save as much money as possible on solar panels for your Golden Grove home.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Golden Grove, SC Solar Incentives FAQs

If I installed solar panels on my house a few years ago, can I still claim incentives?

An excellent idea would be to talk to someone from the company that installed your system — or call a local Golden Grove solar installer — to clarify which incentives you may qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

How much can I save on my electric bill annually if I add solar panels to my house in Golden Grove?

Typically, Golden Grove homeowners who install solar panels save around $1,129.76 per year, or around $21,465.43 over 20 years after they make the switch.

What are the top solar panel installation companies near me?

To discover the best solar panel installers near you, take a look at our article on the top solar companies in Golden Grove.

What are some environmental benefits of installing solar panels on my house?

You can lower your carbon footprint by 300 pounds of CO2 a year by switching to solar panels. This adds up to around 6,000 pounds in 20 years. In addition, solar power is a renewable energy source, which means that switching your home over reduces the drain on our planet's resources.

Can I use a combination of multiple types of renewable energy to power my home?

Yes, you can use multiple types of renewable energy to power your home, such as a combination of solar and geothermal. You can also combine renewable energy generation with a non-renewable backup source of energy. Make sure that you discuss your proposed plan with your local Golden Grove solar installation expert, to make sure you know what you'll need and what kinds of incentives you might or might not qualify for.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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