The state of south carolina offers an additional tax credit for home and business owners who go solar worth 25 of the total cost including installation.
South carolina solar tax credit 2018.
General tax credit questions.
Can only take 3 500 or 50 of your tax liability per year for up to 10 years.
Application for solar energy property credit.
25 of total system cost up to 35 000.
South carolina department of revenue po box 125 columbia sc 29214 0825.
For a list of incentives by category visit the south carolina tax incentives webpage.
Here s an example of how the south carolina tax credit works.
South carolina solar energy tax credit.
Your income tax for 2018 will be 3 271 and half of that is 1 636.
Application for clean energy credit.
Say you re a married couple making 75 000 yr.
The most significant incentive to install solar panels for homes and businesses is the federal solar tax credit at the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.
Sc solar energy system credit.
Taxcredits dor sc gov angel investor credit parental refundable credit and education donor nonrefundable credit.
Residents of the palmetto state can claim 25 percent of their solar costs as a tax credit and if you don t pay enough in taxes to get the full value of the credit in one year it.
Solar incentives rebates and tax credits available in south carolina in 2020.
The state of south carolina offers a number of tax incentives for energy efficiency and fuel production.
The energy office works in cooperation with the sc department of revenue to coordinate the application of these incentives.
The south carolina solar energy tax credit is 25.
A tax credit is an amount of money that can be used to offset your tax liability.
25 south carolina tax credit for solar energy systems.
Solar energy property credit.
South carolina s tax credits may be earned by individuals c corporations s corporations partnerships sole proprietors and limited liability companies.
Cut the cost of installing solar on your home by a quarter with south carolina s state tax credit for solar energy.
Credits are usually used to offset corporate income tax or individual income tax.
Certification for pv systems.
To claim the south carolina tax credit for solar you must file form sc1040tc as part of your state tax return.
