South Carolina Solar Tax Credit 2017

Application for clean energy credit.

South carolina solar tax credit 2017.

General tax credit questions. In july 2009 south carolina passed its solar rebate tax incentive law to allow homeowners in the state to claim credits for any renewable energy systems that they installed in their homes. The environmental protection agency s epa national priority list 2. Electricity in or on a facility in south carolina can claim an income tax credit of 25 of the cost of purchasing and installing that system.

Cut the cost of installing solar on your home by a quarter with south carolina s state tax credit for solar energy. Solar energy property credit. Can only take 3 500 or 50 of your tax liability per year for up to 10 years. Credits are usually used to offset corporate income tax or individual income tax.

The state of south carolina offers an additional tax credit for home and business owners who go solar worth 25 of the total cost including installation. 25 south carolina tax credit for solar energy systems. State of south carolina department of revenue 2017 tax credits name your social security number credit description code amount most of these credits are computed on separate forms. Residents of the palmetto state can claim 25 percent of their solar costs as a tax credit and if you don t pay enough in taxes to get the full value of the credit in one year it.

Taxcredits dor sc gov angel investor credit parental refundable credit and education donor nonrefundable credit. Credits may be disallowed if necessary schedules are not attached to your. Application for solar energy property credit. Credits are fully claimed.

25 of total system cost up to 35 000. South carolina s tax credits may be earned by individuals c corporations s corporations partnerships sole proprietors and limited liability companies. This law provides a tax credit of up to 25 percent on all eligible costs to a maximum of 3500 or 50 percent of a person s tax liability whichever amount is less when applied to the individual s yearly taxes. In order to qualify for the credit the solar energy property must be located in south carolina placed in service in this state during the taxable year and be located on.

Attach the appropriate credit form s and or sc1040tc worksheet to the sc1040tc and sc1040. 2016 you will apply for the solar tax credit next year when you file your 2017 income taxes. Sc solar energy system credit. The epa s national priority list equivalent sites.

The credit for a small hydropower system may be claimed only if the system was installed on or after july 1 2009. Certification for pv systems.