Solar Panel Cost Guide in Boiling Springs, SC (Sep 2022)

  • Boiling Springs Solar Installation Cost: $15,384
  • 25-Year Savings: $28,441
  • Payback Period: 8.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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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.

The average cost of a solar system in Boiling Springs is $3 per watt. To account for 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 about $15,384, or $11,384 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary based on several factors, such as how many panels you need, your energy usage and what company you go with. For many 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.

Click the button below to get connected to a reputable solar installer in your area for a custom quote.

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

Many homeowners decide to use a solar installer since installing solar panels by yourself can be hard. Local solar companies can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.

If you're on the hunt for a solar company in Boiling Springs, the EcoWatch team has put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • 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

There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size. Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,720. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Boiling Springs, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

Lastly, the company you get to install your solar panel system can play a role in determining your pricing. Boiling Springs' solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for and also fits within your budget.

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

Solar Incentives in Boiling Springs

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Renewable Energy and Energy Storage Property Tax Exemption
Incentive Amount 100% exemption
Website Visit here
More Info Click here

Name Solar Energy, Small Hydropower, and Geothermal Tax Credit (Corporate)
Incentive Amount 25% of eligible costs
Incentive Max In any given tax year, $3,500, or 50% of taxpayer's tax liability for that taxable year, whichever is less. If the amount of the credit exceeds $3,500 for each facility, the taxpayer may carry forward the excess for up to ten years.
Website Visit here
More Info Click here

Name Santee Cooper - Rooftop Solar Rebate Program
Incentive Amount Residential and Commercial: $1.05/W
Non-Profit: $1.30/W
Incentive Max Residential and Commercial: $6,300
Non-Profit: $7,800
Website Visit here
More Info Click here

Name Solar Energy, Small Hydropower, and Geothermal Tax Credit (Personal)
Incentive Amount 25% of eligible costs
Incentive Max In any given tax year a maximum of $3,500, or 50% of taxpayer's tax liability for that taxable year, whichever is less. If the amount of the credit exceeds $3,500 for each facility, the taxpayer may carry forward the excess for up to ten years.
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:

  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
  • Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
  • Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Boiling Springs, SC Solar Cost FAQs

What is the average cost of installing solar panels in Boiling Springs?

This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally 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 more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Boiling Springs?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

Is switching to solar power worth it?

Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.

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.

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