South Carolina Solar Tax Credit 2016

25 south carolina tax credit for solar energy systems.

South carolina solar tax credit 2016.

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. Taxcredits dor sc gov angel investor credit parental refundable credit and education donor nonrefundable credit. The credit is found under south carolina deductions and credits it is an other non refundable credit solar energy credit. Credits are usually used to offset corporate income tax or individual income tax.

Solar incentives rebates and tax credits available in south carolina in 2020. To claim this credit you must mail your south carolina return along with form form sc sch tc 38 and a certification from the manufacturer. 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.

2016 you will apply for the solar tax credit next year when you file your 2017 income taxes. Application for solar energy property credit. Sc solar energy system credit. The largest credit that can be applied in a single year is 3500 or 50 of your state tax liability whichever is less.

General tax credit questions. 25 of total system cost up to 35 000. South carolina solar energy tax credit. Application for clean energy 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. The state of south carolina offers a number of tax incentives for energy efficiency and fuel production. Can only take 3 500 or 50 of your tax liability per year for up to 10 years. Certification for pv systems.

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. The energy office works in cooperation with the sc department of revenue to coordinate the application of these incentives. 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.

South carolina s solar energy tax credit passed by the state legislature lets residents claim a state tax credit of 25 of the whole installed cost of a solar pv system.