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The U.S. Department of Energy and the North Carolina Clean Energy Technology Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in December 2014. Staff are currently working hard on the new version of DSIRE but are also maintaining the content of the current version of DSIRE. Thank you for your continued support and patience during this transition. We hope you are as excited for December as we are! The U.S. Department of Energy and the North Carolina Solar Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in the summer of 2014. Staff are currently working hard on the new DSIRE and are unfortunately only able to make minimal updates to the DSIRE website at this time. We apologize for any inconvenience and thank you for using DSIRE.

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South Carolina

South Carolina

Incentives/Policies for Renewables & Efficiency

Printable Version
Renewable Energy Manufacturing Tax Credit   

Last DSIRE Review: 07/07/2014
Program Overview:
State: South Carolina
Incentive Type: Industry Recruitment/Support
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Wind, Geothermal Electric, Geothermal Heat Pumps, Geothermal Direct-Use
Applicable Sectors: Industrial
Amount:10%
Maximum Incentive:$500,000 for any year and $5 million total for 15 years
Terms:Qualifying expenditures must be certified by the Department of Revenue
Start Date:01/01/2010
Expiration Date:12/31/2015
Web Site: http://www.scstatehouse.gov/code/t12c006.php
Authority 1:
S.C. Code ยง 12-6-3588
Summary:

South Carolina offers a ten percent income tax credit to the manufacturers of renewable energy operations* for tax years 2010 through 2015.

In order to qualify, a business must:

  • manufacture renewable energy systems and components in South Carolina for solar, wind, geothermal, or other renewable energy uses
  • invest a minimum of $50 million in a Tier IV county, $100 million in a Tier III county, $150 million in a Tier II county, and at least $200 million in a Tier I county in new qualifying plant and equipment expenditures the year the tax credit is claimed
  • create one full-time job that pays 125% of the state's annual median wage for every $1 million in capital investment qualifying for the credit
  • qualifying jobs must pay at least one hundred twenty-five percent of this State's average annual median wage as defined by the Department of Commerce

A taxpayer's total credit cannot exceed $500,000 for any year and $5 million total for all years. Unused credits may be carried forward for fifteen years after the tax year in which a qualified expenditure was made. The tax credit is nonrefundable.

Applicants must file a request for the credit to the State Energy Office (SEO) by January 31 for expenses incurred the previous tax year. Qualifying expenditures** must be certified by the SEO. The SEO is required to notify applicant of approval and approved credit amount by the following March. Tax credit cannot be combined with any other state tax incentive.

*"Renewable energy operations" are limited to manufacturers of systems and components that are used or useful in manufacturing renewable energy equipment for the generation, storage, testing and research and development, and transmission or distribution of electricity from renewable sources, including specialized packaging for the renewable energy equipment manufactured at the facility.

**"Qualifying investment" means investment in land, buildings, machinery, and fixtures for expansion of an existing facility or establishment of a new facility in  South Carolina. Qualifying investment does not include relocating an existing facility in South Carolina to another location in the State without additional capital investment.


 
Contact:
  South Carolina Department of Revenue
301 Gervais Street
P.O. Box 125
Columbia, SC 29214
Phone: (803) 898-5000
Web Site: http://www.sctax.org
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.