2024 Solar Incentives Guide for Mauldin, SC - Tax Credits & Rebates

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

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2024 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 Mauldin solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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 Mauldin?

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 (Personal)

Incentive Type:
Personal Tax Credit
25% of eligible costs

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

Incentive Type:
Corporate Tax Credit
25% of eligible costs

Renewable Energy and Energy Storage Property Tax Exemption

Incentive Type:
Property Tax Incentive
100% exemption

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

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 people to make the switch to renewable energy by providing incentives that lower the financial burden of solar panel installation and use. You might qualify for several kinds of incentives, such as discounts, cash back or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the South Carolina government and others from the federal government. Categories of solar incentives include:

  • Tax Credits: Tax credits lower, dollar-for-dollar, how much income tax you owe the federal government. Tax credits are different from tax deductions.
  • Rebates: Your solar installer might help you claim a rebate, or partial refund of your purchase, for your solar panels. States or counties will also sometimes offer limited-time rebates. Any rebates you receive will usually be deducted from your total price before any tax credits are calculated.
  • Net Metering: You can sign a net metering agreement with your Mauldin utility company. This agreement may apply to all or a percentage of the excess electricity that is generated by your solar panels. They will then subtract this value from your utility bill each month.
  • Tax Exemptions: Sales tax exemptions are applied at the time of purchase for your solar system. Property tax exemptions allow you to ignore the added value of your solar system when you calculate the amount of property tax you need to pay on your 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

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

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

Federal Solar Incentives

Federal incentives are the kind of incentives that you are most likely to have heard of. The Federal Solar Investment Tax Credit, or ITC, is the best-known federal solar incentive. The ITC provides a tax credit for a predetermined percentage of your solar system's cost.

The ITC originally covered 30% of the cost of installing a solar system, although it has fluctuated slightly over time between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The total installation cost includes the panels themselves as well as the cost of accessories, labor and equipment. There is no maximum amount you can claim. The ITC can be applied to solar systems installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.

Curious how the ITC might apply to your specific situation? Contact your local Mauldin solar panel installation expert to get more information.

In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now called the Clean Energy Credit. The Clean Energy Credit bolsters the current credit, increasing it up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. After 2032, the credit percentage will decrease slightly each year until the end of the program in 2035. Starting in 2023, the program expansion will also make credits for energy storage systems even easier to claim.

Click here to learn more about the new Inflation Reduction Act. The best way to fully understand how the new Clean Energy Credit will apply to you is to speak with your local Mauldin solar panel company directly.

State & Local Solar Incentives

Some solar incentives are often also provided by state and local governments. Like with federal incentives, these could include tax credits, rebates and more. Incentives may 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 Mauldin

The expanding number of available solar incentives has contributed greatly to the increase in the adoption of solar energy nationwide over the last 15 years. You can get solar incentives from your local utility company, the federal government or the South Carolina government. When you're ready to make the change to solar energy, reaching out to your local Mauldin solar panel installation expert is a great first step.

EcoWatch's Mauldin, SC Solar Incentives FAQs

How much will solar panels save me on my electric bill in Mauldin annually?

After adding solar panels to your home in Mauldin, you can expect to save approximately $1,106.26 per year, or about $21,018.95 over the next 20 years.

What are the top solar panel installation companies near me?

To find the best solar panel installer in your area, check out our guide to the best solar companies in Mauldin.

When does the federal solar tax credit end?

The Clean Energy Credit (previously referred to as the federal solar tax credit, or ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.

I want to trade in my old appliances for ones that are more energy-efficient. Are there any incentives I can get?

The new Inflation Reduction Act includes provisions for multiple incentives designed to reward homeowners who make eco-friendly upgrades. Some incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.

Can I apply for incentives both towards the initial cost of solar panels, and later as reimbursement?

The order in which incentives are applied might vary depending on which incentives you are eligible for but generally yes, you can receive multiple types of incentives for your solar project. Get in touch with your solar installer or a local tax professional to verify you are claiming all the incentives you qualify for and applying them in the correct order.

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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