Solar Panel Cost Guide in Duncan, SC (Mar 2023)
- Duncan Solar Installation Cost: $15,384
- 25-Year Savings: $29,403
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Duncan
We break down average solar pricing in Duncan.
In Duncan, solar panels cost about 2.72 per watt on average. Since a 8.1-kW system is needed to cover the energy consumption of a typical home in Duncan, the average price of going solar will be about $15,384 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Duncan homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on energy bills.
Click the button below to get connected to a reputable solar panel company in your area for a customized quote.
Solar savings over time in Duncan
| Year | Return on Investment |
|---|---|
| 1 years | $-13,593 |
| 3 years | $-10,010 |
| 5 years | $-6,427 |
| 7 years | $-2,844 |
| 9 years | $739 |
| 11 years | $4,322 |
| 13 years | $7,905 |
| 15 years | $11,488 |
| 17 years | $15,071 |
| 19 years | $18,654 |
| 21 years | $22,237 |
| 23 years | $25,820 |
| 25 years | $29,403 |
Top Solar Installers in Duncan
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your swap to solar power much easier. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Duncan:
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 Duncan
Factors that Affect Solar Panel Costs in Duncan
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Duncan: 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
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The model of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating in Duncan, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $21,381 | 8.9 years |
| 8 kW | $2.77 | $15,537 | $28,812 | 8.8 years |
| 10 kW | $2.72 | $19,040 | $36,396 | 8.6 years |
| 12 kW | $2.67 | $22,391 | $44,132 | 8.4 years |
| 14 kW | $2.61 | $25,590 | $52,021 | 8.2 years |
| 16 kW | $2.56 | $28,636 | $60,061 | 8.1 years |
| 18 kW | $2.50 | $31,530 | $68,255 | 7.9 years |
| 20 kW | $2.45 | $34,272 | $76,600 | 7.7 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:
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- 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 most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
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 Duncan, SC Solar Cost FAQs
What is the average cost of installing solar panels in Duncan?
The average cost of solar panels in Duncan 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 use.
Are solar panels free in Duncan?
A solar panel system isn't free in Duncan, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Duncan?
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 a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Duncan?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide 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.