Solar Energy and Small Hydropower Tax Credit (Personal) (South Carolina)

This is the approved revision of this page, as well as being the most recent.
Jump to: navigation, search

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place South Carolina

Name Solar Energy and Small Hydropower Tax Credit (Personal)
Incentive Type Personal Tax Credit
Applicable Sector Commercial, Residential
Eligible Technologies Solar Water Heat, Solar Space Heat, Photovoltaics, Daylighting, Small Hydroelectric
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount 25% of eligible costs

Carryover Provisions Excess credit may be carried forward up to 10 years




Equipment Requirements Solar-thermal systems must be certified by SRCC or a comparable entity endorsed by the S.C. Energy Office
Start Date 2006-01-01







Maximum Incentive In any given tax year, 3,500, or 50% of taxpayer's tax liability for that taxable year, whichever is less










Program Administrator South Carolina Department of Revenue
Website http://www.energy.sc.gov/renewable
Date added to DSIRE 2006-07-18
Last DSIRE Review 2014-08-13



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

In South Carolina, taxpayers may claim a credit of 25% 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. Effective July 1, 2009, SB 1141 expanded the scope of this credit to include small hydropower systems. Only hydropower systems installed after July 1, 2009 are eligible for the tax credit.


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.

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, unless the system was installed before June 19, 2007.

The South Carolina Department of Revenue has issued forms and instructions for claiming the tax credit.


Incentive Contact

Contact Name Taxpayer Assistance
Department South Carolina Department of Revenue

Address 301 Gervais Street
Address 2 P.O. Box 125
Place Columbia, South Carolina
Zip/Postal Code 29214
Phone (803) 898-5709



Website http://www.sctax.org
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: S.C. Code § 12-6-3587
Date Effective 2006-01-01
Date Enacted 2006-06-22



















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"