Solar Panel Cost Guide in Elgin, SC (Nov 2022)

  • Elgin Solar Installation Cost: $15,308
  • 25-Year Savings: $29,206
  • Payback Period: 8.6 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Elgin

Find out what the average cost of installing solar panels is in Elgin.

The national average cost of solar panels is $2.66 per watt, but in Elgin it's $3 per watt. The average solar panel system size in Elgin is around 8.0 kilowatts, meaning a cost of about $15,308 for a solar installation, or $11,328 after the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of equipment you want, your solar contractor and more. With average savings of about $21,000 on power bills over 20 years, many homeowners in Elgin find investing in solar has a decent ROI.

For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Elgin

Year Return on Investment
1 years $-13,528
3 years $-9,966
5 years $-6,405
7 years $-2,844
9 years $717
11 years $4,278
13 years $7,839
15 years $11,401
17 years $14,962
19 years $18,523
21 years $22,084
23 years $25,645
25 years $29,206

Top Solar Installers in Elgin

When making the switch to solar, many homeowners prefer to use a solar installation company since putting up solar panels yourself can be a challenging project. Companies can also provide access to quality options of the best solar panels and help you choose which one will be right for you.

Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Elgin

Factors that Affect Solar Panel Costs in Elgin

The cost of installing a solar system in Elgin can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

The size of the system you need is one of the largest factors that influences the overall cost of going solar. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Elgin, where sunlight is abundant, efficiency can quickly pay off. In addition, 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

Many homeowners find the average cost of solar in Elgin to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.

Solar Panel Installation Company

A final factor to consider when trying to evaluate the cost of solar for your home or business in Elgin is the company you hire to install your solar panel system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services at different price points. The company's size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.

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 $21,336 8.9 years
8 kW $2.77 $15,537 $28,753 8.8 years
10 kW $2.72 $19,040 $36,322 8.6 years
12 kW $2.67 $22,391 $44,044 8.4 years
14 kW $2.61 $25,590 $51,918 8.3 years
16 kW $2.56 $28,636 $59,944 8.1 years
18 kW $2.50 $31,530 $68,122 7.9 years
20 kW $2.45 $34,272 $76,453 7.7 years

How to Save on Solar Panels

The solar company you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:

  • Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
  • Warranty: If you care about the endurance of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
  • 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 such as a system component breaking or the company going out of business.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Elgin, SC Solar Cost FAQs

How much does it cost to install solar panels in Elgin?

The average cost of solar panels in Elgin 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.

Can you get solar panels for free in Elgin?

A solar panel system isn't free in Elgin, 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 can help lower the cost.

How much can I save on energy bills after switching to solar?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Elgin, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.

How long do solar panels last in Elgin?

On average, solar panels can last 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 higher amount 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.

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