Solar Panel Cost Guide in Conway, SC (2023 Update)
- Conway Solar Installation Cost: $14,605
- 25-Year Savings: $34,121
- Payback Period: 7.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Conway
We go over average solar pricing in Conway.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Conway, the typical cost of a solar system is 2.72 per watt. The average solar panel system size in Conway is around 7.7 kilowatts, meaning a cost of about $14,604 for a solar installation, or $20,884 before the 30% federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Conway based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Conway can save around $24,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Conway that can help you get a more accurate cost estimate for your home.
Solar savings over time in Conway
| Year | Return on Investment |
|---|---|
| 1 years | $-12,823 |
| 3 years | $-9,259 |
| 5 years | $-5,695 |
| 7 years | $-2,131 |
| 9 years | $1,433 |
| 11 years | $4,997 |
| 13 years | $8,561 |
| 15 years | $12,125 |
| 17 years | $15,689 |
| 19 years | $19,253 |
| 21 years | $22,817 |
| 23 years | $26,381 |
| 25 years | $29,945 |
Top Solar Installers in Conway
Many homeowners opt for a solar installation company since installing solar panels by yourself can be challenging. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Conway
Factors that Affect Solar Panel Costs in Conway
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Conway: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Conway, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,720 for each additional kilowatt you need. There are many different solar panel brands and the one you choose also affects the cost. Generally, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Conway homeowners opt to finance their solar panel systems to make going solar more affordable. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Conway, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Conway have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $26,232 | 7.8 years |
| 8 kW | $2.77 | $15,537 | $35,281 | 7.6 years |
| 10 kW | $2.72 | $19,040 | $44,482 | 7.5 years |
| 12 kW | $2.67 | $22,391 | $53,836 | 7.3 years |
| 14 kW | $2.61 | $25,590 | $63,341 | 7.2 years |
| 16 kW | $2.56 | $28,636 | $72,999 | 7.0 years |
| 18 kW | $2.50 | $31,530 | $82,810 | 6.9 years |
| 20 kW | $2.45 | $34,272 | $92,772 | 6.7 years |
How to Save on Solar Panels
There are numerous companies available in Conway, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The brand of solar panel you want to get plays a part in which installer you should opt for, since different companies provide different panels.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Conway, SC Solar Cost FAQs
How much does it cost to install solar panels in Conway?
The average cost of solar panels in Conway is about $13,600 for a 5-kW system and $27,200 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can solar panels completely eradicate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Conway, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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 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 home 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.