Is Electrification Worth It in South Carolina?

Charleston: 2,000 heating degree days, 1,800 cooling degree days, and Duke Energy.

You barely heat. You run AC 7-8 months. Most South Carolina homes already have heat pumps—they've been the default since the '80s. Electricity costs $0.13/kWh. Natural gas is around $1.50/therm, but a lot of homes don't have gas service anyway.

If your heat pump is 15+ years old, upgrade it. Modern variable-speed models use 30-40% less energy for cooling, which matters a lot when you're running AC 7 months. That's $350-600/year in savings. Add solar (9-year payback in SC) and you're looking at $1,200+ annual energy savings total.

Updated December 2024•Data from EIA, DSIRE, NREL
Heat Pump Payback
Not Recommended
With incentives
Annual Savings
$2,400
Full electrification
Available Incentives
$10,450
Federal + state + utility
CO₂ Reduction
12.8 tons
Per year

South Carolina Energy Costs

Electricity Rate
$0.138/kWh
Natural Gas Rate
$1.48/therm
Average Electric Bill
$145/month
Average Gas Bill
$58/month
Climate Zone
mixed
Heating Degree Days
2,600
Cooling Degree Days
1,850
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Visual ROI Analysis

Payback Period Comparison

Lower is better • Shortest payback = fastest return on investment

Annual Savings Comparison

Higher is better • More annual savings = greater long-term benefit

Cumulative Net Savings Over Time

Point where line crosses $0 = payback achieved • Steeper line = faster savings growth

Return on Investment by Upgrade

🌡️

Heat Pump HVAC

Upfront Cost$12,000 - $22,000
Total Incentives-$2,450
Net Cost$9,550 - $19,550
Annual Savings$66/yr
Payback PeriodNot Recommended
Lifetime ROI12%
CO₂ Reduction2.9 tons/yr
☀️

Solar Panels

Upfront Cost$15,000 - $30,000
Total Incentives-$4,500
Net Cost$10,500 - $21,000
Annual Savings$969/yr
Payback Period17.1 years
Lifetime ROI126%
CO₂ Reduction3.3 tons/yr
💧

Heat Pump Water Heater

Upfront Cost$2,500 - $4,500
Total Incentives-$2,300
Net Cost$200 - $2,200
Annual Savings$237/yr
Payback Period6.2 years
Lifetime ROI78%
CO₂ Reduction1.8 tons/yr
⚡

EV Charger + Electric Vehicle

Upfront Cost$800 - $2,500
Total Incentives-$1,200
Net Cost$-400 - $1,300
Annual Savings$1,128/yr
Payback Period0.5 years
Lifetime ROI1460%
CO₂ Reduction4.8 tons/yr

Full Electrification Package

Total Upfront Cost
$30,300 - $59,000
Total Incentives
-$10,450
Net Cost After Incentives
$19,850 - $48,550
Annual Energy Savings
$2,400/year
Lifetime Savings (18 years)
$43,197
Simple Payback
16.0 years
💡

Best ROI for South Carolina

Based on your state's energy costs and climate, EV Charger offers the best return on investment with an average payback of 0.5 years and an ROI of 1460%.

0.0 years slower than average compared to the national average.

Ready to electrify your South Carolina home?

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