Nathan Healy
Certified by Nathan Healy
Updated: July 2025
Quality Solar Solutions Since 2011
Palmetto has served 20,000+ customers across 31 states with an approval rating over 85%.
01

Solar in Myrtle Beach

Myrtle Beach homeowners are exploring solar panels to reduce energy costs as South Carolina electricity prices have risen 11% from 2020 to 2024. Solar installation offers a practical solution for local residents seeking energy independence.

Our comprehensive guide on home solar panels provides the information you need to make informed decisions about solar in Myrtle Beach.

SOUTH CAROLINA by the Numbers

6th Most residential solar in the United States
159k Households have installed solar panels
~$10k South Carolina average solar rebate savings
~$45k Myrtle Beach average savings over 25 years
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Key Takeaways

  • Myrtle Beach receives excellent solar irradiance with 4.8 peak sun hours daily, making solar panels highly effective year-round.
  • South Carolina offers generous solar incentives including a 25% state tax credit and federal credits totaling $9,713 average savings.
  • Solar systems typically pay for themselves in 8 years while providing 25-year savings of $44,586 for Myrtle Beach homes.
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Palmetto Reviews

04

Solar Cost Calculator

Our solar cost calculator uses real installation data from Myrtle Beach neighborhoods including Surfside Beach, North Myrtle Beach, and Conway. Get accurate pricing estimates based on actual local projects, not generic estimates.

Small Home Up to 2,000 sq ft
Medium Home 2,000-3,000 sq ft
Large Home Over 3,000 sq ft
System Size
This system size is designed to offset approximately 100% of the average electricity usage for a home of this size in South Carolina.
Recommended
System
7.29 kW
Cost Breakdown
Your estimated investment
System Cost
$20711
Federal Tax Credit (30%)
$-6213
State Incentives
$-3500
Final
Cost
$10998
Savings
Your total financial benefit
Monthly Savings
Average utility bill reduction
$102
Payback Period
Break-even point
8.0 years
25-Year
Savings
$44586
05

Myrtle Beach Electricity Prices

Solar panel installation in Myrtle Beach helps homeowners control rising electricity costs as South Carolina rates continue climbing year after year.

South Carolina electricity rates have increased from 12.9 cents per kWh in 2021 to 14.1 cents per kWh in 2024, representing a steady upward trend.

Solar panels generate electricity from sunlight, allowing Myrtle Beach homeowners to produce their own power instead of relying solely on the traditional grid.

Over 25 years, solar systems can provide predictable energy costs while traditional electricity rates continue rising, offering long-term financial protection for local families.

Price of Energy: South Carolina vs National Average

10¢
20¢
30¢
13.7¢
12.9¢
15.0¢
13.6¢
16.0¢
13.7¢
16.5¢
14.1¢
2021
2022
2023
2024
US Average
South Carolina

Myrtle Beach Area Utility Providers

Myrtle Beach residents receive electricity from Duke Energy and Santee Cooper. Based on 2023 data, local rates ranged from 11.4¢ to 14.7¢ per kilowatt-hour across different service areas.

These rates generally fall below the 2023 national average of 16.0¢ per kWh, though some Duke Energy rates exceed the state average of 13.70¢ per kWh due to infrastructure and fuel costs.

Even with competitive utility rates, solar panels can provide long-term savings and energy independence as electricity costs continue rising over time in South Carolina.

Myrtle Beach Utilities Electricity Rates

Duke Energy
14.70¢
-8%
Duke Energy
12.70¢
-21%
Santee Cooper
11.40¢
-29%
SC Average
13.70¢
-14%
US Average
16.0¢
06

South Carolina Solar Incentives

Myrtle Beach solar installation costs are reduced through various solar incentives in South Carolina available to local homeowners.

South Carolina offers a 25% state tax credit and property tax exemptions. Santee Cooper customers receive additional rebates up to $5,700 for solar panel installations.

These incentives change frequently. Research current programs carefully and consider acting promptly to maximize your solar savings in Myrtle Beach.

$9,713

Average savings in South Carolina solar rebates

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 helps South Carolina homeowners save money when they install solar energy systems. This incentive allows you to claim a credit equal to 25% of the total costs you pay for purchasing and installing a qualifying solar energy system on your South Carolina home.

The financial benefit is substantial but has limits. You can claim up to $3,500 maximum per solar installation, or up to 50% of your state tax liability for the year, whichever is less. If your credit amount exceeds $3,500, you can carry the excess forward and use it over the next 10 years. To qualify, your solar system must be certified by the Solar Rating and Certification Corporation or a similar organization endorsed by the State Energy Office, and the system must be fully installed before you can claim the credit.

Important considerations for homeowners include that this credit applies only to the solar equipment itself (panels, inverters, controls, tanks, pumps, heat exchangers) and installation costs – it doesn’t cover structural elements like roofing or walls. You’ll need to file Form TC-38 with your state tax return to claim this credit. The credit reduces your South Carolina state income tax liability dollar-for-dollar, making it a valuable incentive that can significantly reduce the overall cost of going solar.

South Carolina’s Property Tax Exemption program provides complete property tax relief for eligible homeowners who meet specific qualifying criteria. This state-level incentive eliminates 100% of property taxes on your primary residence, including both the home and up to one acre of land, which can save homeowners thousands of dollars annually depending on their property value and local tax rates.

To qualify for this exemption, you must be a totally and permanently disabled veteran with a service-connected disability, a disabled law enforcement officer or firefighter injured in the line of duty in South Carolina, a paraplegic or hemiplegic person (including those with Parkinson’s, Multiple Sclerosis, or ALS causing similar mobility issues), or a Medal of Honor recipient or former Prisoner of War. The property must be your primary residence, and you must own it either solely or jointly with your spouse. Surviving spouses may also qualify under certain conditions as long as they remain unmarried and continue living in the home.

Applications must be submitted within two years from the date taxes were paid if you’re seeking refunds for previous years. You can apply online through South Carolina’s MyDORWAY system, by mail, or in person at Department of Revenue service centers. Required documentation varies by category but typically includes medical certifications, VA certificates, recorded deeds, and proof that you’ve received the 4% special assessment ratio for owner-occupied dwellings from your county assessor’s office.

Santee Cooper’s EmpowerSolar program is a utility rebate program that helps residential customers in South Carolina install solar panels on their homes. The program provides financial incentives to offset the upfront cost of solar installation while allowing homeowners to sell excess energy back to the grid through net metering.

The program offers a rebate of $950 per kilowatt (kW) of installed solar capacity, with a maximum rebate of $5,700 per home. Santee Cooper also provides on-bill financing through their Smart Energy Loan Program for up to $40,000 for qualifying customers. However, participants must pay a monthly Distributed Generation fee of $10 to cover fixed grid costs.

To qualify, solar systems must be installed by Santee Cooper Trade Allies – certified contractors who are familiar with the program requirements. Only systems installed by these approved contractors are eligible for rebates. The rebate application process is handled through the chosen Trade Ally, and rebate payments are typically delivered within 6-8 weeks after final system approval and meter installation.

Important considerations include the mandatory $10 monthly fee that applies to all solar customers, which helps cover the fixed costs of maintaining grid infrastructure that solar customers continue to use. Homeowners should factor this ongoing cost into their solar investment calculations. Additionally, while Santee Cooper installs a bidirectional meter to track energy sold back to the grid, they do not monitor the solar system’s performance – homeowners need to use their inverter’s monitoring system to track total energy production.

Net metering in South Carolina allows homeowners with solar panels to receive credit for the excess electricity they send back to the power grid. When your solar system produces more energy than your home uses, that extra power flows to the grid and you receive credits on your electric bill. These credits can then be used to offset the electricity you draw from the grid when your solar panels aren’t producing enough power, like at night or on cloudy days.

The financial benefits vary significantly depending on your utility company. Some utilities like Dominion Energy offer true 1:1 net metering, meaning you receive full retail rate credit for excess power. Others like Duke Energy require time-of-use rates and credit excess generation at lower rates of 2.6-4 cents per kWh. Export credit programs from cooperatives like Berkeley Electric pay around 5.9 cents per kWh for all power sent to the grid, while others like Santee Cooper pay 3.8-4.2 cents per kWh for monthly net excess.

Most South Carolina utilities settle accounts monthly rather than annually, and many require time-of-use rate schedules when you install solar. Some utilities like Duke Energy have minimum monthly bills around $30, and a few charge additional monthly fees for net metering customers. It’s important to note that Duke Energy ended their 1:1 net metering program in June 2021, so new solar customers receive lower compensation rates for excess generation.

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 Quote
07

Myrtle 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 coastal humidity and seasonal weather patterns create unique solar conditions. Despite occasional storms and cloudy days, proper system design maximizes year-round energy production effectively.

Solar Production in Myrtle Beach by Month

Daylight Hours
Energy Production (kWh/day)

What Can Your Solar System Power?

Summer Production (July)

[SummerProduction] kWh/day

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)

[WinterProduction] kWh/day

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

[AnnualProduction] kWh/year

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 Estimate
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Solar Installations in Myrtle Beach

We’ve mapped every solar installation across America to show you something exciting: your Myrtle Beach neighbors who’ve already made the switch to clean energy! Explore this interactive map to discover which local communities are leading the solar revolution.

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Leasing Solar Panels

For Myrtle Beach homeowners, Palmetto offers flexible solar financing through Power Purchase Agreements (PPA). With a PPA, you pay only for the actual solar energy your system produces at a fixed rate per kilowatt-hour, typically ranging from $0.10-0.15 per kWh.

This approach eliminates the large upfront investment while providing immediate savings on your electricity bills. Unlike purchasing solar panels outright, our PPA includes comprehensive system maintenance, monitoring, and repairs at no additional cost. Learn more about solar financing options or explore our LightReach program for qualifying customers.

Your monthly payments fluctuate with seasonal production – higher in summer when panels generate more electricity, lower in winter. This structure often provides greater total savings compared to traditional utility bills while transferring all maintenance responsibilities to Palmetto’s expert technicians.

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 More
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Frequently Asked Questions

Yes, solar makes excellent sense in Myrtle Beach due to the area’s favorable conditions and financial incentives. The coastal location receives 4.8 peak sun hours daily, providing consistent solar energy production year-round.

With South Carolina’s 25% state tax credit, federal incentives, and rising electricity rates, most Myrtle Beach homeowners see their solar systems pay for themselves within 8 years while saving over $44,000 over 25 years.

Yes, Myrtle Beach has net metering through multiple utility providers serving the area. The specific net metering policies vary depending on your electric utility company.

Duke Energy customers use time-of-use rates with 1:1 credit during billing periods, while excess generation receives lower rates of 2.6-3.9 cents/kWh. Santee Cooper offers monthly net metering with excess credits at 3.8-4.2 cents/kWh, helping reduce your electric bills through solar energy production.

Yes, solar panels increase home value in Myrtle Beach, SC. Research shows that solar installations typically add around 4% to a home’s value, with Zillow studies indicating a 4.1% increase in home values nationwide.

For Myrtle Beach homes, this translates to thousands of dollars in added equity. Additionally, South Carolina’s property tax exemption means you won’t pay additional property taxes on the increased value that solar panels provide to your home.

Solar installation costs in Myrtle Beach typically range from $9,574 to $12,421 after federal and state incentives for systems sized between 6.48 kW and 8.10 kW.

Before incentives, system costs range from $18,677 to $22,744. However, the 30% federal tax credit and South Carolina’s 25% state tax credit (up to $3,500) significantly reduce your final investment, making solar affordable for most homeowners.

Yes, solar is financially worth it for most Myrtle Beach homeowners. With South Carolina’s excellent sun exposure and generous incentives, solar systems typically pay for themselves within 8 years.

After accounting for federal tax credits, state incentives, and rising electricity costs, homeowners save an average of $44,586 over 25 years while increasing their home value by approximately 4%.

We believe Palmetto Solar is the best choice for Myrtle Beach homeowners. As a national company with local focus, we’ve completed over 1,008 installations across South Carolina since 2020.

We offer some of the industry’s best financing options and work with a reliable installation network. Our comprehensive approach combines quality equipment, competitive pricing, and ongoing support to help local families achieve energy independence.