Commercial Solar Tax Incentives

Commercial Solar Tax Incentives

Commercial solar tax incentives in the Carolinas include a 30% tax rebate from the Inflation Reduction Act, Accelerated Depreciation (MACRS) plus potential state,utility and local municipality solar programs.

Commercial Solar Investment Tax Credit (ITC)

The Inflation Reduction Act allows solar customers to take 30 percent of their solar investment as a credit against their federal tax liability. The ITC applies to the complete costs of commercial solar systems, and there is no cap on its value (though the customer must have a tax liability to benefit from a tax credit).

Please note: at the end of 2033, the 30% tax credit will drop back to 26%, so now’s the time to convert to solar energy to maximize your savings!

Accelerated Deprecation (MACRS)

Commercial clients may also benefit from accelerated depreciation (MACRS) on their Solar investment. After applying the 30% tax credit, 87% of the solar investment solar can be depreciated. Since the MACRS benefit is a deduction, the MACRS final cash impact depends on the companies marginal tax rate. On average, the depreciation benefit for Renu’s clients equates to ~20-25% of the costs of the system. (For more information, refer to IRS Publication 946, IRS Form 4562: Depreciation and Amortization, and Instructions for Form 4562.)

 

State and Local Tax Incentives

State Tax Credit

In South Carolina, Commercial Solar customers can benefit from a 25% Solar Tax Credit up to $140,000 which equates to another $35,000 in potential tax savings. Please note, that the max South Carolina Tax Savings in any year is $3,500 though you can take that up to 10 years.

In North Carolina, Commercial Solar customers benefit from a Property Tax Abatement for solar projects. Additionally, in North Carolina, Commercial Customers who are customers of Duke Energy may benefit from the Duke Energy Solar Rebate.

Other Local Solar Benefits

At Renu Energy Solutions, out Commercial Solar Division is constantly monitoring for additional local solar incentives across North Carolina and South Carolina to maximize your solar ROI. Let us know where your business operates below and our Commercial solar team will provide a detailed analysis of the benefits and the ROI of a Commercial Solar investment.

Why Renu

  • North Carolina/South Carolina Commercial Installer
  • Lower Business Operation Costs 
  • Licensed Rooftop/Electrical Technicians 

With so many incentives to save money on your solar installation, contact us today to see how much you could save with solar!

Renu has installed over 4,500 solar systems since 2010, and is an expert in the solar industry. Specializing in industry leading customer service, Renu is. a turn-key company. Whether you’re just beginning to research your solar options or you’re ready to install a system tomorrow, Renu will be your smart. reliable. solar partner from the first phone call to installation and system energization.

Get Started on Your Solar Journey...

Speak to Us Today!

"*" indicates required fields

Name*
Address*
I am interested in Energy Storage
Hidden
MM slash DD slash YYYY