Solar Panel Cost Guide in Cherryvale, SC (2023 Update)
- Cherryvale Solar Installation Cost: $15,073
- 25-Year Savings: $27,724
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cherryvale
Find out what the average cost of solar panels are in Cherryvale.
The average cost of a solar system in Cherryvale is 2.72 per watt. Using this figure, a typical 7.9-kW system would cost about $15,080 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Cherryvale based on several factors, such as the brand of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $21,000 over 20 years on electricity bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Cherryvale
| Year | Return on Investment |
|---|---|
| 1 years | $-14,931 |
| 3 years | $-14,645 |
| 5 years | $-14,360 |
| 7 years | $-14,075 |
| 9 years | $-13,789 |
| 11 years | $-13,504 |
| 13 years | $-13,219 |
| 15 years | $-12,933 |
| 17 years | $-12,648 |
| 19 years | $-12,363 |
| 21 years | $-12,077 |
| 23 years | $-11,792 |
| 25 years | $-11,507 |
Top Solar Installers in Cherryvale
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make your swap to solar power much easier. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
If you'd like to start using solar energy but still aren't sure which solar installer to go with, here are our recommendations for providers near you:
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 Cherryvale
Factors that Affect Solar Panel Costs in Cherryvale
For many Cherryvale homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Cherryvale, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Cherryvale, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Cherryvale homeowners decide to finance their solar panel systems to make paying for solar more affordable. When estimating 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 reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you select will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $20,555 | 9.2 years |
| 8 kW | $2.77 | $15,537 | $27,711 | 9.0 years |
| 10 kW | $2.72 | $19,040 | $35,020 | 8.8 years |
| 12 kW | $2.67 | $22,391 | $42,481 | 8.6 years |
| 14 kW | $2.61 | $25,590 | $50,094 | 8.5 years |
| 16 kW | $2.56 | $28,636 | $57,860 | 8.3 years |
| 18 kW | $2.50 | $31,530 | $65,778 | 8.1 years |
| 20 kW | $2.45 | $34,272 | $73,848 | 7.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Cherryvale, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
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 Cherryvale, SC Solar Cost FAQs
How much does it cost to install solar panels in Cherryvale?
This is a difficult question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Cherryvale?
A solar panel system isn't free in Cherryvale, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Cherryvale have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.