Sign Up For Novogradac Industry Alert Emails

South Carolina Retroactively Extends, Expands Solar Tax Credit

Friday, June 24, 2022 - 12:00PM

Legislation effective this week in South Carolina retroactively extends the state solar tax credit. S.901 reinstates the 25% state credit that expired Dec. 31, 2021, for solar energy property on specified locations and allows the credit to be taken by a partnership or limited liability company taxed as a partnership. The legislation increases the project cap from $2.5 million to $5 million and allows the credit to be taken in five equal installments beginning within three years of the year in which the property is placed in service.

Stay aware of renewable energy happenings with a subscription to the Novogradac Journal of Tax Credits.

Learn more about Novogradac's expertise and many services