South Carolina Solar Energy Credit

Includes a system installed in or on a facility in south carolina owned by the taxpayer.

South carolina solar 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. 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. Includes the cost of purchasing a system and installation costs. Make sure to include this amount and this form with.

Solar energy or small hydropower system credit. The state of south carolina offers a number of tax incentives for energy efficiency and fuel production. For a list of incentives by category visit the south carolina tax incentives webpage. Credits are usually used to offset corporate income tax or individual income tax.

To claim the south carolina tax credit for solar you must file form sc1040tc as part of your state tax return. For installing a solar energy system or small hydropower system in a south carolina facility tc 38. The energy office works in cooperation with the sc department of revenue to coordinate the application of these incentives. The largest credit that can be applied in a single year is 3500 or 50 of your state tax liability whichever is less.

The south carolina solar energy tax credit is 25 30 for 2009 of the total cost of the installation. A tax credit is an amount of money that can be used to offset your tax liability. South carolina s tax credits may be earned by individuals c corporations s corporations partnerships sole proprietors and limited liability companies. However the actual tax credit you can take for a given tax year is limited to 3500 but not to exceed 50 of your total tax liability for that year.

The corresponding code is 038 solar energy or small hydropower system credit. South carolina code of laws 12 6 3587 states that a credit may not be allowed for a solar system unless the system is certified for performance by the nonprofit solar rating and certification corporation or a comparable entity endorsed by the state energy office. Includes costs of installing systems that generate electricity without cooling or heating.