Residential solar tax incentives have been a major support for our customers in North and South Carolina. Regardless of where you live in 2020, the federal investment tax credit provides a 26% Federal tax credit based upon the total costs of our solar system. After 2020, the 26% Federal tax credit decreases to 22% in 2021 and then all the way down to 10%.
We are just solar consultants and installers (and not tax accountants) – therefore we recommend that you talk to your accountant on your eligibility to receive these tax credits.
26% Federal Tax Credit on Renu Energy Installations The federal tax credit applies to all Renu Energy material and installation costs (all inclusive) of Solar PV System including battery storage like the Tesla Powerwall. There is no max limit on the federal tax credit except, that to receive the credit, you have to have a personal tax liability to offset.
Up to 25% off the complete installation costs in South Carolina
Renu Energy Solutions installations of solar electric systems qualify for up to 25% in South Carolina tax credits.
There are key limitations to how the South Carolina tax credit may be taken, primarily related to having taxable income in South Carolina, as well as maximum yearly South Carolina tax credit of $3,500 for up to 10 years. Speak with your tax preparer or professional!