Solar Panel Cost Guide in Conway, SC (Mar 2023)
- Conway Solar Installation Cost: $14,604
- 25-Year Savings: $34,123
- Payback Period: 7.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Conway
Find out what the average cost of a solar system is in Conway.
The average cost of a solar panel system in Conway 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.
Keep in mind that the figures above are only estimates based on the average Conway homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Conway see about $24,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top 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 | $-12,655 |
| 3 years | $-8,756 |
| 5 years | $-4,858 |
| 7 years | $-960 |
| 9 years | $2,938 |
| 11 years | $6,836 |
| 13 years | $10,734 |
| 15 years | $14,632 |
| 17 years | $18,530 |
| 19 years | $22,428 |
| 21 years | $26,327 |
| 23 years | $30,225 |
| 25 years | $34,123 |
Top Solar Installers in Conway
Many homeowners opt for a solar panel company since installing solar panels yourself can be a lot of work. The expertise that solar companies provide can be useful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
The cost of installing a solar system in Conway can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar 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 consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,720 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Conway, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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 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. 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 upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Conway, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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?
This is a tough question to answer precisely, because the cost depends on many 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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Conway?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.