Myrtle Beach, SC Solar Installation: 2026 Costs, Incentives & Savings
Solar Power in Myrtle Beach
With more than 200 sunny days each year, Myrtle Beach is a natural fit for solar energy. If you’re a homeowner curious about solar installation in Myrtle Beach, you’re in the right place to learn how the process works and what to expect along the way.
With South Carolina electricity prices rising 11% from 2020 to 2024, many local homeowners are exploring their options. Start with our guide on home solar panels to see how it all comes together.
SOUTH CAROLINA by the Numbers
20th Most residential solar in the United States
38 Households have installed solar panels
5.2 Avg peak sun hours per day
~$45k Myrtle Beach average savings over 25 years
How Much Do Solar Panels Cost in Myrtle Beach, SC?
See what solar really costs in Myrtle Beach. This calculator uses real installation data from homes across our area—including Carolina Forest, Socastee, Surfside Beach, and Conway—to give you an honest, local estimate. No guesswork, just firsthand numbers to help you understand your options.
Cost Breakdown
Your estimated investment
System Cost: $20,936
Price per Watt: $2.84
State Incentives: -$3,500
Final Cost: $17,436
Savings
Your total financial benefit
Monthly Savings: Average utility bill reduction $103
Payback Period: 11.8 years
25-Year Savings: $45,137
Key Takeaways
- Myrtle Beach gets over 200 sunny days a year, giving homeowners plenty of solar potential to generate their own power and reduce reliance on the grid.
- South Carolina electricity prices rose about 9% from 2021 to 2024, and going solar helps you lock in more predictable energy costs for decades.
- State incentives make solar more affordable, including a 25% income tax credit, property and sales tax exemptions, and net metering credits from your utility.
Myrtle Beach Electricity Prices
South Carolina electricity prices climbed from 12.9 cents per kWh in 2021 to 14.1 cents in 2024—about a 9.3% increase. That steady rise adds up on the monthly bills of Myrtle Beach homeowners. While SC rates stay below the national average of 16.5 cents, local prices keep climbing. Solar lets Myrtle Beach homeowners generate their own power and rely less on utility rates that trend upward each year.
Price of Energy: South Carolina vs National Average
| Year | SC Price (cents) | US Average (cents) |
|---|---|---|
| 2021 | 12.9 | 16.5 |
| 2022 | 13.6 | 16.0 |
| 2023 | 14.1 | |
| 2024 |
Source: US Bureau of Labor Statistics, Energy Information Administration, Form 861
South Carolina Solar Incentives
Myrtle Beach homeowners can tap into several solar incentives in South Carolina that help lower the cost of going solar.
| Incentive | Type | Description | Source |
|---|---|---|---|
| South Carolina Solar Energy Tax Credit (TC-38) | Tax Credit | 25% of total solar installation cost as a state income tax credit, up to $3,500 per year, for up to 10 years. | Learn More |
| South Carolina Solar Property Tax Exemption | Property Tax Exemption | 100% property tax exemption for residential solar PV systems up to 20 kW. | Learn More |
| South Carolina Solar Sales Tax Exemption | Sales Tax Exemption | Exempts solar energy equipment from the state’s 6% sales tax. | Learn More |
| South Carolina Net Metering Policy | Net Metering | Allows homeowners to earn bill credits for excess solar energy sent to the grid. | Learn More |
Myrtle Beach Solar Irradiance
Solar panel production varies throughout the year based on daylight hours, weather patterns, and sun intensity.
Solar Production in Myrtle Beach by Month
| System Size | Daylight Hours | Energy Production (kWh/day) |
|---|---|---|
| 5 kW | --- | --- |
| 7 kW | --- | --- |
| 10 kW | --- | --- |
Annual Production
Over a year, your 10 kW system could:
- Offset 10 tons of carbon dioxide emissions
- Equal the environmental benefit of planting 178 trees
Leasing Solar Panels
In Myrtle Beach, most homes are served by either Duke Energy or Santee Cooper. If your home is on Duke Energy Progress or Duke Energy Carolina, you can go solar through a Power Purchase Agreement (PPA) with LightReach.
With a PPA, you simply pay for the solar power your panels produce at a set price per kilowatt-hour, with no upfront cost. Curious whether owning or a PPA fits your home best? Our guide on buying vs. leasing solar breaks down the details.
Frequently Asked Questions
Does Myrtle Beach, SC have net metering?
Yes. Myrtle Beach homeowners have access to net metering, though the specific credits depend on your utility.
Do solar panels increase your home value in Myrtle Beach, SC?
Solar panels can increase your home’s value in Myrtle Beach when purchased. A Zillow study found homes with solar panels sold for about 4.1% more than comparable homes without them.
How much does it cost to go solar in Myrtle Beach, SC?
In Myrtle Beach, you can go solar with no upfront cost through a LightReach lease, which starts around $93/mo for a typical home.