Spending hundreds of dollars every month on your utility bill? Maybe it’s about time to look at solar energy alternatives that can save money and reduce your carbon footprint at the same time.
Solar energy is without a doubt one of the most popular alternatives in the market today. Traditional heating and air conditioning drain your finances with no reward on your investment. Meanwhile, state government programs across the country are currently incentivizing solar energy; this means there are a number of reasons you should consider investing sooner rather than later.
Investing in solar energy means that you may be eligible for government tax cuts and rebates. South Carolina residents can receive a range of state and federal income tax credits for switching over to solar energy. Keep track of your certification and installation records as well as receipts for equipment purchased.
State vs. federal
State incentives vary based on local governments, but federal incentives on renewable energy range from wind power to fuel cells to solar energy. There is no maximum incentive cap placed on solar energy at the federal level very good news for homeowners looking to use solar energy for their home.
Eligibility for state tax credits is determined by approval from a utility agreement. This alternative fuel source can be used to generate heat and electricity but must be evaluated for performance standards by an approved entity before federal tax rebates can be delivered. If your photovoltaic system is not connected to the grid, the taxpayer is responsible for personally certifying compliance with local codes.