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Resources

We know solar -- and we want to help you know it too.

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How do tax credits work?

 

Tax credits can dramatically reduce the net cost and payback period of a solar system.

A tax credit is even better than a tax deduction.

You don’t just subtract it from your income -- you subtract it from the amount of taxes you owe. Every dollar of tax credit is a dollar you don’t pay in taxes.

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Tax Credits & Rebates

Federal Tax Credit

Until the end of 2019, you can deduct 30 percent of the cost of installing a solar energy system from your federal taxes.

This applies to both residential and commercial systems, and there's no limit on its value. If you can't claim the whole credit your first year, you can carry the credits into future years until the federal tax credit ends.

For homeowners, the federal tax credit expires 12/31/2021.

Going forward:

 

  • 2019: homeowners & commercial can deduct 30 percent of the cost of the system from taxes
  • 2020: homeowners & commercial can deduct 26 percent of the cost of the system from taxes
  • 2021: homeowners & commercial can deduct 22 percent of the cost of the system from taxes
  • 2022 on: No more federal solar tax credit for homeowners. Owners of commercial solar systems save 10%

North Carolina Duke Energy Rebate

Duke Energy Carolinas and Duke Energy Progress launched their NC solar rebate July 9th, 2018.

It's open to Duke customers who are homeowners as well as customers with businesses, nonprofits, farms, churches, etc.

Since launching the rebate, Duke has offered:

60 cents per watt for homeowners. (For up for 10kW of solar installed.)

50 cents per watt for commercial customers. (For up to 100 kW of solar installed.)

75 cents per watt for non-profit customers. (For up to 100 kW of solar installed.)

South Carolina Tax Credit

South Carolina offers a 25% tax credit for residential and commercial sectors.

You can claim up to $3,500 a year, or 50% of taxpayer’s liability, whichever is less.

If you can’t claim it all the first year, your solar tax credit can be carried forward for ten years.

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FAQs

Are the tax credits still available?

The 30% federal tax credit is set to expire on 12/31/21 and the 25% South Carolina tax credit has no expiration date.

Do solar electric systems require batteries?

The majority of the PV systems we install don’t require batteries. They are installed under a system known as Net Metered, which means that you will have one electric meter and one account with the utility company. When you are producing more power than you are consuming, you generate credits (and spin the meter backwards). When you are consuming more power than you are producing, you use those credits or buy power when you are out of credits.

Does solar add value to my house?

According to recent independent studies, solar-powered homes on average garner $17,000 more than comparable homes without a solar energy system. Compared to other home renovations, solar can often recover 100% of the original cost, where some home improvements can recover as little as 4% of the original cost. According to the U.S. Dept. of Energy, a home with solar energy sells twice as fast as a home without solar energy – even in a depressed market. As the industry continues to mature, the value of solar will only increase.

What is the payback time for solar electric and solar hot water?

Approximately 11 to 12 years for residential systems and 5 to 7 years for commercial.

Can my electric bill really be $0?

Some solar systems produce more electricity than is used each month, bringing net electricity costs to $0. However, there is still a minimal connection fee (typically about $100 per year) to remain connected to the electrical grid.

How does a solar system affect my roof integrity?

With proper design and installation following industry best practices, your roof should maintain all its pre-solar integrity. Our design crew will assess any unusual circumstances.

How much maintenance does a solar system need?

With no moving parts and at least a 25-year expected life-span, solar panels require very little maintenance. They remain relatively clean as long as they are exposed to rain or a quick rinse with a garden hose every few months.

How does snow affect a solar system’s performance?

While snow will decrease production while it is on your panels, it should not damage your system when designed and installed properly. Given the angle of the panels and their tendency to produce some heat, the snow will fall off your panels faster than it would fall off your roof, quickly returning your system to its full potential.

Will my system still generate power during a blackout?

For the safety of workers attempting to fix power outages, solar systems that are connected to the electrical grid are required by utility regulations to shut off during blackouts. For people who want power during power outages, we recommend battery backup systems or traditional generators.

Can I take my home off the electrical grid?

Yes, provided you install a battery-backup system to provide power when your demands exceed your production, such as at night.

Can my HOA or neighbors prevent me from installing a solar system?

In a lot of cases, no. Currently, 39 states have solar access laws that provide varying degrees of protection against restrictions that can be imposed on you.

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Financing Options

More than 50 percent of solar powered homes are now financed loans or leases. We know that financing can be complicated – there are lots of programs to compare, paperwork to complete and approvals to navigate through.

Financing options available locally through:

Self-Help Credit Union

Admirals Bank

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"Very professional and honest."

– Hans Doellgast, Jade Mountain Builders

"In a word, FANTASTIC. Whenever you hire a contractor you're taking a chance they treat your job as a priority. There was never any question about that with SH. In fact, the project manager on my job was simply outstanding."

Barbara Walker, Home Owner

"From the initial visit to the final wrap up the company communicated well even as they moved the project from one department to another. The guys who did the installation came when they said they would and kept the site clean. I cannot think of a single negative point."

Philip Wiehe, Home Owner

"Since our initial contact I have been 100% satisfied. Your careful explanations, your commitment to details, and your work ethic were especially appealing. We appreciate the professionalism of your crew. We are totally satisfied. Hope Sugar Hollow is a huge success."

— Ralph Johnson, Home Owner

"Should anyone be considering solar addition to their business or home they should look no further than Sugar Hollow Solar."

— Doctors Dean Hutsell and Charles Lloyd, The Fairview Animal Hospital

"Sugar Hollow Solar really went the extra mile to make my project work. I love reading the output info on the electrical box that informs me of how many TONS of CO2 I have saved from entering the atmosphere."

— Kathy Triplett, Home Owner

"I am delighted to recommend Sugar Hollow Solar without reservation. I found them knowledgeable, professional, courteous, prompt, willing to listen and answer questions, enthusiastic, strongly committed to customer satisfaction and very competitively priced.

— Mike Levi, Home Owner

"These guys bring excitement to the job and enjoy what they do and it shows in their quality and service. You can look around if you like, but these are the guys to go with!"

- Larry Papula, Home Owner