Myrtle Beach, SC
In This Guide
Solar in Myrtle Beach
Considering professional home solar panels installation in Myrtle Beach? With South Carolina’s electricity prices increasing 11% since 2020, solar power offers a smart investment for coastal homeowners looking to reduce utility bills while embracing clean energy.
Myrtle Beach’s abundant sunshine and favorable conditions make it an ideal location for solar panel installation, providing Myrtle Beach residents with decades of renewable energy production and protection against future rate hikes.
SOUTH CAROLINA by the Numbers
Key Takeaways
- Myrtle Beach’s abundant sunshine makes it ideal for solar energy, with systems typically producing 14,600 kWh annually from a 10kW installation.
- South Carolina offers valuable solar incentives including a 30% federal tax credit, 25% state tax credit (up to $3,500), and property tax exemptions.
- Solar panels in Myrtle Beach can save homeowners approximately $45,000 over 25 years while protecting against rising electricity costs.
Solar Cost Calculator
Get accurate solar installation costs for Myrtle Beach with our calculator. Using real data from local installations in Conway, Socastee, Carolina Forest, and across Horry County, we provide transparent, personalized estimates to help you make informed decisions about powering your home with clean energy.
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Estimated Investment and Savings
Based on Palmetto Solar installations in South Carolina. Current electricity rate: 14.1¢/kWh. Assumes 80% credit of retail rate.
Myrtle Beach Electricity Prices
Electricity costs in Myrtle Beach, South Carolina continue to rise, impacting household budgets across the coastal region. Let’s examine what this means for local homeowners.
While South Carolina’s electricity rates (14.1¢/kWh in 2024) remain below the national average (16.5¢/kWh), Myrtle Beach residents have still experienced a 9.3% increase in residential electricity costs since 2021.
Solar panel installation offers Myrtle Beach homeowners a practical solution to these rising costs. By harnessing South Carolina’s abundant sunshine, residents can generate their own clean electricity and reduce dependency on utility companies.
Over time, solar installation provides Myrtle Beach homes with predictable energy costs and protection against future rate increases, while adding value to properties and supporting South Carolina’s clean energy transition.
Price of Energy: South Carolina vs National Average
Myrtle Beach Area Utility Providers
In Myrtle Beach, SC, three main utility companies serve residents: Duke Energy (14.7¢/kWh), Dominion Energy (14.4¢/kWh), and Santee Cooper (11.4¢/kWh). These 2023 rates compare favorably to the national average of 16.0¢/kWh.
While Myrtle Beach utilities generally offer rates below the national average, Duke and Dominion exceed South Carolina’s 13.7¢/kWh state average. Santee Cooper provides the most competitive local rates, influenced by the region’s infrastructure and energy generation mix.
Solar installation in Myrtle Beach offers protection against future utility rate increases while leveraging the area’s abundant sunshine. With electricity costs trending upward since 2020, solar panels provide homeowners a stable, predictable energy solution for decades.
Myrtle Beach Utilities Electricity Rates
South Carolina Solar Incentives
Myrtle Beach homeowners can significantly reduce solar installation costs through various solar incentives in South Carolina, including federal tax credits, state rebates, and utility programs.
These financial benefits include South Carolina’s 25% tax credit (up to $3,500), property tax exemptions on solar improvements, and Santee Cooper’s empowersolar rebates offering up to $5,700 for qualified installations.
Remember that incentive programs can change or expire. Research current offerings thoroughly and consider acting promptly to maximize your potential savings on your Myrtle Beach solar investment.
Save an average of
$9,713
in solar rebates in South Carolina
| INCENTIVE | TYPE | DESCRIPTION | SOURCE |
|---|---|---|---|
| Residential Clean Energy Credit | Federal tax credit | A federal tax credit worth 30% the cost of a solar panel system in the year it’s installed | Learn More |
| SC Solar Energy Credit | State tax credit | Homeowners can deduct 25% of the cost of their solar system (capped at $3,500) as a tax credit. | Learn More |
| Property Tax Exemption | State tax exemption | Homeowners are exempt from paying property tax on the value that solar panels add to their home | Learn More |
| Santee Cooper empowersolar | Utility program | Santee Cooper customers receive rebates up to $5,700 (or $950 per kilowatt installed) | Learn More |
The Residential Clean Energy Credit lets people claim a tax credit worth 30% the cost of a solar panel system in the year it’s installed. The credit can only be used against taxes you owe or have already paid that year, but any excess credit can be rolled over to future years.
The credit is broadly available, though there are a few restrictions — you must own the panels and they must be on a house you live in — so be sure to consult a tax professional about your situation.
The SC Solar Energy Credit is a state tax credit that allows South Carolina homeowners to reduce their income tax liability when they purchase and install a solar energy system. This credit equals 25% of the costs for buying and installing solar equipment on your home, up to a maximum of $3,500 per installation or 50% of your tax liability for the year, whichever is less.
To qualify, your system must be certified for performance by the Solar Rating and Certification Corporation or a comparable entity endorsed by the State Energy Office. The credit cannot be claimed until installation is complete. If your credit exceeds the $3,500 cap, you can carry forward the unused portion for up to 10 years. This incentive applies to solar water heating, space heating, air cooling, energy-efficient daylighting, and electricity generation systems installed on your South Carolina residence.
South Carolina’s Property Tax Exemption offers homeowners with solar energy systems relief from property taxes. This incentive ensures that the added value of your solar installation won’t increase your property tax burden, making solar more affordable over its lifetime.
The exemption applies to 100% of the value added by your solar system, meaning you won’t pay any additional property taxes on this improvement to your home. To qualify, you simply need to own a solar energy system installed on your property in South Carolina. There’s no expiration date on this benefit, so your solar system remains exempt from property taxes for its entire useful life. To claim this exemption, you’ll need to complete form PT-401-I through the South Carolina Department of Revenue’s MyDORWAY online portal or submit a paper application.
Santee Cooper’s EmpowerSolar program offers financial incentives to homeowners who install solar panels on their roofs. Through this utility program, qualifying residential customers can receive a rebate of $950 per kilowatt (kW) of installed solar capacity, up to a maximum of $5,700. This significant rebate helps offset the upfront cost of installing a solar energy system, making renewable energy more accessible to South Carolina homeowners.
To be eligible for the EmpowerSolar rebate, your solar system must be installed by a qualified Santee Cooper Trade Ally contractor. Additionally, Santee Cooper offers on-bill financing through their Smart Energy Loan Program for Renewable Energy, allowing qualifying customers to finance up to $40,000 for their solar installation. Homeowners should be aware that participants in the program will be subject to a monthly fee of $10 under Santee Cooper’s Distributed Generation Rider, which covers fixed costs associated with maintaining connection to the grid. For specific questions about the program, homeowners can contact Santee Cooper directly at [email protected] or 843-946-5951.
Net Metering in South Carolina allows solar panel owners to receive credit for excess electricity they send back to the grid. The program varies significantly between utility companies across the state, with each offering different compensation rates and billing structures. This incentive helps homeowners reduce their electricity bills by offsetting their consumption with solar generation.
The financial benefits depend on your utility provider. For example, Dominion Energy South Carolina offers 1:1 net metering (where each kWh exported equals one kWh credited), while Berkeley Electric Cooperative provides a fixed rate of $0.0592 per kWh exported. Duke Energy requires time-of-use (TOU) rates and credits excess generation at approximately 2.6-4 cents per kWh. Most utilities settle accounts monthly, though Dominion conducts an annual true-up in November at a reduced rate of about 2.8-3.4 cents per kWh.
Important considerations: Duke Energy implemented a $30 minimum monthly bill and ended traditional 1:1 net metering on June 1, 2021. Some utilities like Dominion require specific rate plans (Rate 5 TOU) for solar customers. Credits generated during specific time periods may only offset usage during those same periods with certain utilities. Before installing solar, check with your specific utility provider for their current net metering policies, as these programs continue to evolve.
Ready to start saving with solar?
Speak with a Palmetto solar expert to find out exactly how much you can save with South Carolina incentives.
Get a Free QuoteMyrtle Beach Solar Irradiance
Solar panel production varies throughout the year based on daylight hours, weather patterns, and sun intensity. Understanding how seasons affect your solar system helps set realistic expectations for your investment.
Myrtle Beach’s abundant sunshine, mild winters, and coastal climate make it ideal for solar power. Despite occasional storms, the right system can harness significant energy year-round, maximizing your investment.
Solar Production in Myrtle Beach by Month
What Can Your Solar System Power?
Summer Production (July)
In July, your 10 kW system could power:
- 3.6 average homes (15 kWh/day per home)
- or Run central AC for 18 hours AND power all other appliances
- or Fully charge 5.4 Tesla Model 3 electric vehicles
Winter Production (December)
In December, your 10 kW system could power:
- 2 average homes (15 kWh/day per home)
- or Keep your home heating system running for 15 hours
- or Fully charge 3 Tesla Model 3 electric vehicles
Annual Production
Over a year, your 10 kW system could:
- Offset 10 tons of carbon dioxide emissions
- or Equal the environmental benefit of planting 175 trees
- or Save approximately $4,234 in electricity costs
Want to know exactly how much solar can power your home?
Get a personalized solar analysis based on your actual home, energy usage, and roof characteristics.
Get My Custom EstimateSolar Installations in Myrtle Beach
Discover how Myrtle Beach neighborhoods are embracing solar energy! We’ve meticulously mapped solar installations across the community, allowing you to explore which areas are leading the clean energy transition. See how your neighbors are making the switch and join the growing solar movement in Myrtle Beach.
Leasing Solar Panels
In Myrtle Beach, South Carolina, Palmetto offers flexible solar financing through leasing options. For residents served by Duke Energy Progress, Duke Energy Carolina, and Dominion Energy South Carolina, our LightReach solar lease program will be available in the future, bringing zero-upfront-cost solar to more homes.
With a solar lease, you pay a fixed monthly payment while Palmetto handles all maintenance, monitoring, and repairs. This means you can enjoy the benefits of solar energy without the responsibility of system ownership or maintenance concerns.
This option is particularly appealing for homeowners who want predictable energy costs without the upfront investment of purchasing panels. When LightReach becomes available in your area, you’ll be able to start saving immediately while contributing to a cleaner environment.
Go solar without the investment
With LightReach, there are no investment costs to recoup, loan payments to manage, or maintenance needs to take on. As soon as your panels are active, your solar savings are too!
Learn MoreFrequently Asked Questions
Yes, solar makes excellent sense in Myrtle Beach. With abundant sunshine (averaging 215 sunny days annually) and rising electricity costs, Myrtle Beach homeowners can significantly benefit from solar installation.
South Carolina offers valuable incentives including a 30% federal tax credit, 25% state tax credit (up to $3,500), and property tax exemptions. Most solar systems in Myrtle Beach pay for themselves within 7-8 years while providing clean energy for 25+ years.
Yes, Myrtle Beach has net metering, but policies vary by utility provider. Santee Cooper offers monthly net metering with excess generation credited at $0.0416/kWh (summer) and $0.0384/kWh (non-summer).
Duke Energy requires time-of-use rates with solar, providing 1:1 credits within the same TOU period, while excess is credited at lower rates (2.6-4¢/kWh). Dominion Energy offers 1:1 net metering with a required TOU rate and annual true-up in November.
Yes, solar panels typically increase home values in Myrtle Beach. According to a Zillow study, homes with solar panels sell for approximately 4.1% more than comparable homes without solar.
For Myrtle Beach homeowners, this translates to significant value appreciation, especially considering South Carolina’s property tax exemption for solar improvements. The coastal climate’s abundant sunshine further enhances this investment value while providing long-term electricity savings.
In Myrtle Beach, the average cost for solar installation ranges from $18,000-$22,000 before incentives for a typical 7kW system. After applying the 30% federal tax credit and South Carolina’s 25% state tax credit (up to $3,500), final costs typically fall between $10,000-$12,000.
System size, panel quality, roof complexity, and installation company all affect pricing. Most Myrtle Beach homeowners see payback periods of 7-8 years, with systems generating electricity for 25+ years.
Yes, solar is financially worthwhile in Myrtle Beach. With South Carolina’s abundant sunshine, rising electricity rates (up to 11% since 2020), and generous incentives including 30% federal and 25% state tax credits, most homeowners see payback periods of 7-8 years.
A typical Myrtle Beach solar installation saves approximately $45,000 over 25 years while protecting against future utility rate increases. The property tax exemption on solar improvements further enhances the financial benefits.
As a national solar company with a strong local presence in South Carolina, Palmetto offers exceptional solar installation services to Myrtle Beach residents. We’ve completed over 1,000 installations in South Carolina since 2020.
Our industry-leading financing options, comprehensive warranty coverage, and professional installation network make us a trusted choice for homeowners looking to transition to clean energy in the Grand Strand area.