Solar Panel Cost Guide in Boiling Springs, SC (2023 Update)
- Boiling Springs Solar Installation Cost: $15,384
- 25-Year Savings: $28,441
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Boiling Springs
Let's have a look at the average cost of solar panels in Boiling Springs.
In Boiling Springs, solar panels cost about 2.72 per watt on average. To cover the typical energy usage of the average home in Boiling Springs, most homeowners require a 8.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,384, or $21,999 before the federal solar tax credit of 30% is applied.
The true cost of your system can be above or below the average in Boiling Springs depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront cost of solar power is worth paying. On average Boiling Springs homeowners see about $21,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Boiling Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-13,631 |
| 3 years | $-10,125 |
| 5 years | $-6,619 |
| 7 years | $-3,113 |
| 9 years | $393 |
| 11 years | $3,899 |
| 13 years | $7,405 |
| 15 years | $10,911 |
| 17 years | $14,417 |
| 19 years | $17,923 |
| 21 years | $21,429 |
| 23 years | $24,935 |
| 25 years | $28,441 |
Top Solar Installers in Boiling Springs
Although you can install solar panels yourself, it takes extra time and know-how. Because of that, the majority of homeowners choose a solar panel installer. Local solar companies can also help you maximize your return on investment by walking you through any local incentives you can take advantage of and by providing warranties and repairs.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Boiling Springs
Factors that Affect Solar Panel Costs in Boiling Springs
Though the average cost of a solar system in Boiling Springs is $15,384, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,720 per kilowatt in Boiling Springs. The brand of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The company's size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.83 | $11,881 | $20,666 | 9.1 years |
| 8 kW | $2.77 | $15,537 | $27,860 | 9.0 years |
| 10 kW | $2.72 | $19,040 | $35,205 | 8.8 years |
| 12 kW | $2.67 | $22,391 | $42,704 | 8.6 years |
| 14 kW | $2.61 | $25,590 | $50,354 | 8.4 years |
| 16 kW | $2.56 | $28,636 | $58,157 | 8.2 years |
| 18 kW | $2.50 | $31,530 | $66,112 | 8.1 years |
| 20 kW | $2.45 | $34,272 | $74,219 | 7.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Warranty: If you're worried about the longevity of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Different companies have different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Boiling Springs, SC Solar Cost FAQs
How much does it cost to install solar panels in Boiling Springs?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,600 for a 5-kW system and $27,200 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.