Solar power in Moncks Corner, South Carolina
Berkeley Electric Coop offer their solar customers an excellent net metering program in Moncks Corner.
South Carolina offers a state tax credit of 50% of your state tax liability up to $3,500 to be claimed as a tax deduction for installing solar.
After factoring in the state tax credit you may claim a large portion of the remaining cost — 26% in 2020, and 22% in 2021 — as a deduction to federal taxes. The federal solar tax credit can be spread over several years and will always cover the set percentage, regardless of system size.
Utilities are fighting a hard battle to end net metering, no good will come from waiting!
Net Metering Broken Down
Under net metering excess solar generation is sent to the grid and retail value per kWh is provided. After covering the cost of power drawn from the grid at later times you receive credit that may be applied to future bills within the same 12 month billing cycle. If at the end of the 12 months credit remains then Berkeley Electric will deposit the money into your account.
The average cost of installing residential solar panels in Moncks Corner,
South Carolina in 2024 is
$2.78 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in Moncks Corner, SC
is $13,900.
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.
What if my tax liability is less than 26% of my systems costThere is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in South Carolina is only 1199kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Moncks Corner solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our South Carolina solar savings calculator can do this because it contains a database of the electric rates charged by Berkeley Electric Coop Inc, Edisto Electric Coop Inc, South Carolina Electric & Gas Co, South Carolina Public Service Authority
How much can solar panels save you in Moncks Corner
What does the cost of a real solar system look like?
Facts about installing a 12.98kW solar system in Moncks Corner, SC
This system would offset 100% of your energy usage if your typical monthly bill is $238, however your situation may vary so try our Moncks Corner solar calculator to get a result tailored to you.
$22,384
Net cost of system
6 Years 10 Months
Average payback time
16,899 kWh
Annual power production
5¢/kWh
Levelized cost of solar energy
30¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 12.98kW system
Life-time savings on this system over the next 25 years
$94,752
(Prices shown after repayments of capital)
38
Solar companies in Moncks Corner, SC that provide pricing through the SolarEstimate marketplace.
Average total cost of solar panel installation in Moncks Corner
| System Size |
Cash purchase After 26% solar tax credit |
Financed purchase After 26% solar tax credit |
|---|---|---|
| 3kw | $6,460 | $6,977 |
| 4kw | $8,495 | $9,175 |
| 5kw | $10,434 | $11,269 |
| 6kw | $12,343 | $13,331 |
| 7kw | $14,141 | $15,273 |
| 8kw | $15,925 | $17,199 |
| 9kw | $17,582 | $18,989 |
| 10kw | $19,240 | $20,779 |
Find out what system size you need for your home
Going solar in South Carolina
Check out all of the ways energy providers of South Carolina can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Renewable Energy Tax Credit | Federal | Personal Tax Credit |
| Solar Energy State Tax Credit | State | Personal Tax Credit |
| Net Metering | State | Net Metering |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.
