North Charleston
Solar Financing in North Charleston, SC
Ownership, the state credit, and what a loan really costs.
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Financing routes open to a North Charleston homeowner
| Route | Who owns the system | SC 25% credit | Notes for North Charleston |
|---|---|---|---|
| Cash | You | Yes, you claim it | Lowest total cost; credit returns over one or more tax years |
| Solar loan (unsecured or fixture-filed) | You | Yes | Watch dealer fees; a UCC-1 fixture filing may show on your title when you sell |
| Home equity loan | You | Yes | Secured on the house; depends on equity against a $267,700 median value |
| HELOC | You | Yes | Variable rate; draw only what the project needs |
| Lease | Lessor certified by the Office of Regulatory Staff | No (the lessor may claim §48E) | One premises per lease; you own the output |
| Power purchase agreement | — | — | Not permitted in South Carolina |
Ownership and lease rules from SC Code Title 58 Ch. 27; credit from SC Code §12-6-3587. Retrieved 5 October 2026.
Paying cash for a North Charleston system
Cash avoids interest and dealer fees and gives the cleanest net cost: contract price plus City permit fees, minus the state credit as you use it. The credit is not paid at installation.
It reduces your SC income tax by up to $3,500 a year, or half your liability if that is lower, so plan your cash flow around getting it back over two or more returns.
See how the limits work at different incomes on North Charleston solar incentives.
What a solar loan costs on a North Charleston example
Same $22,000 system, three example loan structures. These are arithmetic on stated inputs, not offers.
| Example structure | Amount financed | Monthly payment | Total paid | Cost above the system price |
|---|---|---|---|---|
| Example A: 10 years at 6.99% | $22,000 | $255.33 | $30,639 | $8,639 |
| Example B: 20 years at 7.99% | $22,000 | $183.88 | $44,131 | $22,131 |
| Example C: 25 years at 3.99% with a 25% dealer fee in the price | $29,333 | $154.67 | $46,401 | $24,401 |
Standard amortisation. Example C grosses the price up so the dealer fee is 25% of the financed amount, a structure common in low-APR solar loans. APRs, terms and fees are examples, not quotes.
Check any offer with the loan calculator and the dealer fee calculator.
How interest changes the savings math on Dominion’s rider
On Dominion, a new system’s savings come mostly from replacing midday energy at the 15.074¢ off-peak price, because surplus banks to a November cash-out at avoided cost.
That makes the yearly saving smaller than a pre-2021 net-metering proposal would show, and a loan payment that looked covered by savings under the old rules may not be now.
Put the monthly payment beside your own estimated bill reduction from the savings calculator, then add the $13.50 minimum bill, which solar cannot remove.
Berkeley Electric members face the same test at a different price: self-used solar displaces the co-op’s retail rate and exports earn 6.03¢. The cost page runs both on example inputs: solar cost in North Charleston.
What to compare in a North Charleston solar loan
A low APR with a fee built into the price can cost more than a higher APR with none. Ask for the cash price on the same page.
On a home built around 1995, a 25-year loan will outlast the current shingles. Price a re-roof before you sign.
Some loans assume you pay down a lump sum (often sized to an old federal credit) by a set month, or the payment resets higher. Ask what happens if you do not.
Ask whether the lender files a UCC-1 against the home and how it is released if you sell.
Get every fee in writing; they belong in the total-cost figure.
until midnight of the third business day after signing, by written notice (SC Code §37-2-502).
Should a North Charleston owner lease instead?
Lessors need a certificate from the Office of Regulatory Staff, one premises per lease, and the customer owns the output. Third-party sales of electricity from a system on your property (power purchase agreements) are not permitted. Act 62 removed the old leasing cap.
With a lease you give up the 25% state credit, and the lessor may claim the federal business credit only while §48E’s deadlines allow.
Leases suit an owner with little state tax liability who cannot use the credit anyway, which in a city with a $62,956 median income is a real group. Read the escalator: a yearly payment increase compounds over the term. Our lease or buy tool and escalator calculator show the total.
Financing a battery with solar in North Charleston
Adding a battery raises the amount financed, so its value has to come from Dominion’s on-peak window (29.907¢) or from backup during storms, not from export credits.
Ask for the solar-only and solar-plus-storage prices side by side. Whether the battery portion qualifies for the state credit is not settled in the guidance we read. See battery storage in North Charleston.
Questions to put to a North Charleston lender or installer
The gap is the dealer fee.
Dominion Solar Choice and Berkeley Electric’s rider give different savings.
Get the re-amortised payment in writing.
Only the owner claims the 25% state credit.
Back to the North Charleston solar overview, or read solar financing in South Carolina for the statewide rules.
Questions
Can I get a solar PPA in North Charleston?
Can I claim the SC solar credit if I finance with a loan?
Can I claim the SC solar credit on a leased system in North Charleston?
How much would a $22,000 solar loan cost per month?
What is a dealer fee on a solar loan?
Does a loan payment replace my Dominion bill?
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