Solar Savings Calculator for Myrtle Beach, SC
Homeowners in Myrtle Beach pay an average of $155/month for electricity through Santee Cooper. With 5.1 peak sun hours per day, solar panels can significantly reduce your energy costs.
$155
Avg Monthly Bill
14.5¢/kWh
Electricity Rate
5.1h/day
Peak Sun Hours
$56,029
Est. 25-Year Savings
Calculate Your Savings in Myrtle Beach
Adjust Your Details for Myrtle Beach, SC
$
$50$1,000
50010,000
5¢50¢
Your Estimated Solar Savings
System Size
7.2 kW
Panel Count
18 panels
Total System Cost
$19,440
Federal Tax Credit (30%)
-$5,832
State Tax Credit (25%)
-$4,860
Net Cost
$8,748
Annual Savings
$1,860
Payback Period
4.7 years
25-Year Savings
$56,029
Return on Investment
640%
* Estimates based on 5.1 peak sun hours/day in Myrtle Beach, SC, system cost of $2.7/watt, 30% federal ITC, 25% state tax credit, 3% annual electricity inflation, and 0.5% annual panel degradation over 25 years. Actual results may vary.
Local Solar Details for Myrtle Beach
Utility & Permits
- Utility Company
- Santee Cooper
- Permit Cost
- $275
- Permit Timeline
- 2-3 weeks
- Net Metering
- full
System Estimates
- Recommended Size
- 7.2 kW
- Panel Count
- 18 panels
- Gross Cost
- $19,440
- Net Cost (after credits)
- $8,748
Available Incentives for Myrtle Beach, SC
Federal Solar Investment Tax Credit (ITC)
Reduces federal income tax liability by 30% of the total cost of a solar energy system, including equipment and installation.
South Carolina Solar Tax Credit
One of the most generous state solar tax credits with no maximum cap.
Other Cities in South Carolina
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