Solar Incentive & Rebate Information

Incentives and rebates vary by location and utility

Solar photovoltaics (solar panels producing electricity) promote national energy independence, high tech job creation, and the reduction of carbon dioxide emissions. The government and utility companies put incentives in place to make solar more accessible, as it benefits the entire country. Each state sees unique solar incentives, and they can be different for residential and commercial scale projects. When selecting SolFarm as your solar installer you can rest in knowing that we will take advantage of any and all available incentives and rebates to save you money.

Federal Incentives & Rebates

The federal ITC is available to business and homeowners in all fifty states. Although this incentive started at 30% years ago, it has been reduced over time. Currently this incentive provides a 26% federal tax credit until the end of 2022. For the 2023 calendar year the credit will have a value of 22% . Unless Congress modifies the tax credit, at the end of 2023, the tax credit will no longer be available for residential customers but will still offer a 10% credit for commercial project. Learn more on the Database of State Incentives for Renewables & Efficiency (DSIRE) and from the Solar Energies Industry Association (SEIA).

The federal ITC may be used to reduce the cost of the installation of your solar energy system and any energy storage (batteries) that are installed and charged via the solar energy system. Standalone batteries that only charge via the utility grid are not eligible for the ITC incentive.

Business owners in all states can recover their solar investment costs through depreciation deductions. Solar electric systems are classified as five-year property under the MACRS. Click here to learn more at DSIRE.

North Carolina

Duke Energy's solar rebate will conclude for residential and commercial customer in July 2022

Residential customers - Eligible for a rebate up to 40 cents per watt for energy systems 10 kW or less. This results to a savings of up to $4,000 off of your PV system installation.

Non-residential customers - Eligible for 30 cents per watt for systems up to 100kW in size resulting in a savings up to $30,000.

Not-for-profit customers - Eligible for an enhanced rebate of 75 cents per watt on systems up to 100kW in size resulting in a savings up to $75,000.

PDF document icon Official Duke Energy document

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South Carolina

Business and homeowners in South Carolina can qualify for a tax credit of 25% of the total system cost. Tax credits, if unused, can roll forward for a total of 10 years. The SC tax credit is in addition to the federal tax credit. With a total sum of 55% in tax credits, SC is rapidly increasing its solar energy capacity. Learn more from South Carolina's Energy Office.

USDA REAP Grants & Loans

Agriculture - Eligible for USDA loans and grants no matter their location

Rural Businesses - Eligible for USDA loans and grants if located within a rural USDA area.

Loan and Grant Amounts - REAP loans are available for $5,000 up to $25 million. REAP grants are available for $2,500 to a maximum of $500,000. .

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