Solar power in Simpsonville, South Carolina
Duke Energy and Laurens Electric Coop both offer net metering programs, which means that it's easy for Simpsonville residents to wipe out their electric bills with solar.
There is a 25% tax credit up to $3,500 or 50% of your state tax liability whichever one is the least. After subtracting all other incentives, part of the remaining cost may be claimed as a deduction to federal taxes — 26% in 2020, dropping to 22% in 2021.. The federal solar tax credit can be spread over several years and coversapplies to any system size.
Incentives like these make solar an obvious choice for a home investment.
Even if you still aren't sure about solar is can't possibly hurt to get a free estimate by entering your bill spend and address into our solar calculator.
Net Metering Broken Down
Duke Energy and Laurens Electric Coop both offer a very similar net metering policy. This agreement with your utility credits excess solar generation sent to the grid at the retail value for power. When more power is exported than drawn credit is still given at the retail rate to future bills within the same 12 month billing cycle. Remaining credit at the end of the 12 months is deposited into your account.
The average cost of installing residential solar panels in Simpsonville,
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 Simpsonville, 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 Simpsonville 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 Blue Ridge Electric Coop Inc, Duke Energy Carolinas LLC, Greer Commission of Public Wks, Laurens Electric Coop Inc
How much can solar panels save you in Simpsonville
What does the cost of a real solar system look like?
Facts about installing a 9.53kW solar system in Simpsonville, SC
This system would offset 100% of your energy usage if your typical monthly bill is $191, however your situation may vary so try our Simpsonville solar calculator to get a result tailored to you.
$15,887
Net cost of system
6 Years 1 Month
Average payback time
12,593 kWh
Annual power production
5¢/kWh
Levelized cost of solar energy
32¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 9.53kW system
Life-time savings on this system over the next 25 years
$79,053
(Prices shown after repayments of capital)
44
Solar companies in Simpsonville, SC that provide pricing through the SolarEstimate marketplace.
Average total cost of solar panel installation in Simpsonville
| 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 |
| Duke Energy Solar Rebate (Expired) | Utility | Rebate Program |
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.
