Solar Panel Cost Guide in Columbia, SC (2024 Update)
- Columbia Solar Installation Cost: $19,127
- 25-Year Savings: $31,464
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Columbia
Let’s take a look at the average cost of solar panels in Columbia.
The national average cost of solar panels is $2.66 per watt, but in Columbia it’s 3 per watt.To cover the typical energy usage of the average home in Columbia, most homeowners require a 7.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $19,127, or $27,352 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Despite the significant initial cost, the average Columbia homeowner can save about $24,000 on their energy bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Columbia
| Year | Return on Investment |
|---|---|
| 1 years | $-17,398 |
| 3 years | $-13,938 |
| 5 years | $-10,479 |
| 7 years | $-7,020 |
| 9 years | $-3,560 |
| 11 years | $-101 |
| 13 years | $3,358 |
| 15 years | $6,818 |
| 17 years | $10,277 |
| 19 years | $13,736 |
| 21 years | $17,195 |
| 23 years | $20,655 |
| 25 years | $24,114 |
Top Solar Installers in Columbia
Although it's possible to install solar panels by yourself, it requires extra time and knowledge. Because of that, most people choose a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over time.
If you're on the hunt for a solar company in Columbia, we've compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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 Columbia
Factors that Affect Solar Panel Costs in Columbia
Although the average cost of a solar system in Columbia is $19,127, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,450.There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Columbia, and each can charge different amounts for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also fit into 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 | $3.59 | $15,070 | $20,190 | 10.7 years |
| 8 kW | $3.52 | $19,706 | $27,307 | 10.5 years |
| 10 kW | $3.45 | $24,150 | $34,616 | 10.3 years |
| 12 kW | $3.38 | $28,400 | $42,119 | 10.1 years |
| 14 kW | $3.31 | $32,458 | $49,815 | 9.9 years |
| 16 kW | $3.24 | $36,322 | $57,704 | 9.7 years |
| 18 kW | $3.17 | $39,992 | $65,787 | 9.5 years |
| 20 kW | $3.11 | $43,470 | $74,063 | 9.2 years |
How to Save on Solar Panels
There are a lot of 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:
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Warranty: If you care about the durability of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Before you sign a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
Best National Provider
SunPower
- 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
- 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 Columbia, SC Solar Cost FAQs
What is the average cost of installing solar panels in Columbia?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,250 for a 5-kW system and $34,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 level 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.