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, homeowners, and non-profits (as of 2022) in all fifty states. Originally set at 30% years ago, it has been reduced and increased over time. Currently this incentive is back up to 30% (for many solar energy projects) thanks to the Inflation Reduction Act of 2022. In addition to returning to 30%, more opportunities were made available to increase the ITC amount even further under certain circumstances. 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 also installed.

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 January 2023. The last round of applications will be accepted between January 11-18, 2023. This last round of funding, awarded randomly to applicants, will not have reserved capacity for any customer type. All customers will be competing for the last of the rebate capacity in one large pool. Non-profit capacity is still available for the 2022 calendar year. It is strongly encouraged for non-profits to apply for the rebate before the end of year to increase their likely hood of being awarded the rebate.

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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