South Carolina
Incentives/Policies for Renewables & Efficiency
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Last DSIRE Review: 11/05/2009
| Incentive Type: |
Personal Tax Credit |
| State: |
South Carolina |
| Eligible Renewable/Other Technologies: |
Solar Water Heat,
Solar Space Heat,
Photovoltaics,
Solar Cooling,
Daylighting,
Small Hydroelectric
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| Applicable Sectors: |
Commercial,
Residential
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| Amount: | 30% of eligible costs |
| Maximum Incentive: | In any given tax year, $3,500, or 50% of taxpayer's tax liability for that taxable year, whichever is less |
| Carryover Provisions: | Excess credit may be carried forward up to 10 years |
| Equipment/Installation Requirements: | Solar-thermal systems must be certified by SRCC or a comparable entity endorsed by the S.C. Energy Office |
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Web Site: |
http://www.energy.sc.gov/index.aspx?m=1&t=5&h=19
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Authority 1:
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S.C. Code § 12-6-3587
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| Date Enacted: | 6/22/2006 |
| Date Effective: | 1/1/2006 |
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Summary:
NOTE: This tax credit has been temporarily increased from 25% to 30% of system cost. On January 1, 2010, the tax credit will revert back to 25% of system cost.
In South Carolina, taxpayers may claim a credit of 30% of the costs of purchasing and installing a solar energy system or small hydropower system for heating water, space heating, air cooling, energy-efficient daylighting, heat reclamation, energy-efficient demand response, or the generation of electricity in a building owned by the taxpayer. Prior to July 1, 2009, small hydropower systems could not take advantage of the tax credit. Effective July 1, 2009, SB 1141 expanded the scope of this credit to include small hydropower systems. The maximum credit a taxpayer may take in any one tax year is $3,500 for each facility or 50% of the taxpayer's tax liability for that taxable year, whichever is less. Unused credit, or credit that exceeds the annual cap, may be carried forward for 10 years.
The term "system" includes "all controls, tanks, pumps, heat exchangers, and other equipment used directly and exclusively for the solar-energy system." The term "system" does not include any land or structural elements of the building, such as walls and roofs, or other equipment ordinarily contained in the structure.
This credit applies to installation costs incurred in taxable years beginning on or after January 1, 2006. Solar-thermal systems must be certified by the Solar Rating and Certification Corporation (SRCC) or a comparable entity endorsed by the South Carolina Energy Office to qualify for the credit.
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Contact:
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Taxpayer Assistance
South Carolina Department of Revenue
301 Gervais Street
P.O. Box 125
Columbia, SC 29214
Phone: (803) 898-5709
Web Site: http://www.sctax.org
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Please note: The information on the DSIRE web site provides an overview of incentives and other policies, but it should not be used as the only source of information when making purchasing decisions, investment decisions, tax decisions or other binding agreements. Please refer to the individual contact provided in each record to verify that a specific incentive or other policy is applicable to your specific project.
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