Politics can be unpredictable so take advantage of the tax credits available now. The federal tax credit of 30% will only be valid till 12/31/2019. After 12/31/2019 the federal tax credit will decrease to 26%. Then on 12/31/2020, the tax credit will be reduced to 22%. Now is the time to act in order to receive the tax credit advantage.
Before going solar contact your accountant to fully understand the tax credits impact on your financial situation.
Federal Solar Tax Credit*
The Federal Government offers a Tax rebate of 30% of your total solar system cost. There is no set cap to this rebate. It must be used on the same tax year that the system was installed.
State Tax Credit*
South Carolina has a state tax credit of 25% of the total cost of your solar system. This is capped at $3,500 or 50% of your tax liabilities. These tax credits can be carried out for up to 10 years.
How do I claim my residential energy credit?
Follow the IRS link to learn more:
IRS Residential Energy Credit
Solar panels operate on cloudy days, but the productivity will be lower. Clouds blocking the sun limit the amount of direct sunlight the solar panels can absorb. The decrease in sunlight absorbed by solar panels results in less electricity produced. Overall a few cloudy days won’t ruin your dream of a successful solar project. The determining factor of a prosperous system is the amount of sun your area receives over an entire year.
Solar Chief is a proud member of the Solar Energy Industries Association(SEIA).
The complicated relationship between the White House and solar panels began in 1979. President Jimmy Carter installed 32 solar panels on the White House roof amid the Arab oil embargo, which had caused a national energy crisis. About three years later President Ronald Reagan ordered the solar panels to be removed. In 1986, the panels were officially taken down. By 1992, these solar panels then took a journey to be installed at Maine College.
In 2003, solar panels make an official comeback when President George W. Bush ordered the installation of ground-mounted solar panels on the White House grounds. Rooftop solar installations were completed by President Barack Obama in 2014. Today the White House features rooftop and ground-mounted solar energy.
Source: Thought Co.
Solar panels continue to pop up all over the United States, and increasingly generating the energy of the nation. Solar energy production once restricted to land is now advancing its way to water. New research has brought floating solar farms to center stage in the renewable energy conversation.
Floating photovoltaic panels, also known as “floatovoltaics,” have the potential to generate large amounts of electricity over manmade bodies of water. Floatovoltaics could provide power without taking up valuable real estate.
Today only approximately one hundred floating solar farms systems exist around the world. The placement interest of floatovoltaics would be on reservoirs with nearby electric transmission lines. An example of a potential body of water would be manmade and near hydroelectric power.
National Renewable Energy Laboratory says the production efficiency of solar panels could potentially increase over water. The study shows that the natural cooling effects of water blow solar panels can boost the solar panels power production by twenty-two percent. Research also found that floatovoltaics could limit the amount of water lost through evaporation. This would help prevent harmful algae blooms from growing.
The future of floatovoltaics will remain unknown until more there is more research into the technology. The greatest limitation of floating photovoltaic panels will be the unexplored effects, such as the long term performance and impacts on local wildlife.
Source: Adam M. Pringle, R.M. Handler, J.M. Pearce,
Aquavoltaics: Synergies for dual use of water area for solar photovoltaic electricity generation and aquaculture,
Renewable and Sustainable Energy Reviews, Volume 80, 2017, Pages 572-584, ISSN 1364-0321, Click here to access article
Solar power is the collection and conversion of the sun’s energy into electricity. The process begins when solar (or photovoltaic) cells are exposed to sunlight, this knocks the electrons in the cell loose and electricity is produced. A solar panel is a collection of solar cells, which convert the energy of photons, or light particles, from the sun into electricity.
A solar power system is made of three main components:
- Solar Panels
- Inverter (converts DC to AC)
- Monitoring System
*Adding a solar battery is becoming an increasingly popular option for additional energy freedom
Do not miss out on solar for your home
Earlier this year Duke Energy reached its capacity for net-metering rooftop solar power in South Carolina when it began sourcing 2 percent of its energy from distributed solar arrays. Now it’s taking the relatively unusual step of asking regulators if it can add more net-metering in.
Most utilities have opposed the idea of net-metering, which helps incentivize rooftop solar installations by paying or reimbursing rooftop solar customers for electricity they put back on the grid at retail electric prices. Many contend that this practice costs them more but many studies are showing this isn’t true as solar power generates the most energy when utilities need to add in power from more expensive peaker plants. Apparently Duke Energy is understanding that’s not the case.
In a petition that Duke Energy filed with the Public Service Commission of South Carolina it requested that the commission extend the net-metering program and asked for expedited relief. In its petition it was joined by the South Carolina Office of Regulatory Staff, South Carolina Coastal Conservation League, Southern Alliance for Clean Energy, SunRun, the Alliance for Solar Choice, and the South Carolina Solar Business Alliance.
The petition is for a temporary extension of the program through March in 2019. The extension will allow those involved to work to create longer-term solar incentives in upstate South Carolina, explained the Southern Alliance for Clean Energy.
“The success of this program to date shows that solar is working for South Carolina families,” said Lauren Bowen, staff attorney for Southern Environmental Law Center (SELC). “Extending the timeline for Duke Energy Carolina’s net metering program gives more of its customers the ability to install solar as a way to manage their energy costs while collaborative discussions are underway.”
Under South Carolina’s current regulations, which were enacted four years ago, Duke Energy’s net-metering program would be capped when 2 percent of its retail peak demand was met by distributed solar power. That threshold was met earlier this year, closing the program to new applicants. Solar incentives have proven popular in the state. In just one year, for instance, it funded $12 million in solar incentives beating expectations quickly.
“Duke Energy Carolina’s net metering program has played a crucial role in reaching the state’s renewable energy goals,” said Eddy Moore, the Coastal Conservation League’s Energy and Climate Program Director. “The rapid expansion of rooftop solar put South Carolina residents to work, providing stable jobs to more than 3,000 workers across the state – jobs that are now in jeopardy due to program limits. Current laws allow utilities to change the rules for customer solar when it reaches two percent of the utility’s peak demand. Duke Energy Carolinas customers recently became the first to hit this threshold.”
-by Chris Meehan on 09/07/2018, SolarReviews
Building on President Obama’s Climate Action Plan to cut climate-changing carbon pollution and continue building a clean energy economy in the United States, the Energy Department announced more than $102 million in new projects and available funding to support American leadership in clean energy innovation. Read more