Solar Panel Cost Guide in Florence, SC (2023 Update)
- Florence Solar Installation Cost: $15,175
- 25-Year Savings: $28,600
- Payback Period: 8.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Florence
Let's take a look at the average cost of solar panels in Florence.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Florence, the typical cost of a solar system is 2.72 per watt. Using this figure, a typical 8.0-kW system would cost about $15,175 before the 30% federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will differ based on your specific situation and what company you go with. Even with the significant initial cost, the average Florence homeowner can save about $21,000 on their power bills over 20 years, which is one of the benefits of solar.
To get a free estimate from a vetted solar company in Florence, you can click the button below.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-13,424 |
| 3 years | $-9,922 |
| 5 years | $-6,420 |
| 7 years | $-2,918 |
| 9 years | $584 |
| 11 years | $4,086 |
| 13 years | $7,588 |
| 15 years | $11,090 |
| 17 years | $14,592 |
| 19 years | $18,094 |
| 21 years | $21,596 |
| 23 years | $25,098 |
| 25 years | $28,600 |
Top Solar Installers in Florence
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make converting to solar power much easier. Some solar companies, particularly local ones, can help you better understand incentives in Florence, thereby optimizing your ROI.
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 Florence:
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 Florence
Factors that Affect Solar Panel Costs in Florence
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Florence: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of solar panels in Florence, 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 determine by looking at past electricity bills. Your overall cost can increase by around $2,720 for each additional kilowatt you need. The model of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond 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 looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Florence have solar loans, which reduce the initial cost of installing a solar system. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Florence, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $21,084 | 9.0 years |
| 8 kW | $2.77 | $15,537 | $28,417 | 8.8 years |
| 10 kW | $2.72 | $19,040 | $35,902 | 8.7 years |
| 12 kW | $2.67 | $22,391 | $43,539 | 8.5 years |
| 14 kW | $2.61 | $25,590 | $51,328 | 8.3 years |
| 16 kW | $2.56 | $28,636 | $59,270 | 8.1 years |
| 18 kW | $2.50 | $31,530 | $67,365 | 8.0 years |
| 20 kW | $2.45 | $34,272 | $75,611 | 7.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- 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 good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- 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 considerable role in the company you go with.
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 Florence, SC Solar Cost FAQs
How much does it cost to install solar panels in Florence?
The average cost of solar panels in Florence 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 type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Florence?
You can't get solar panels for free in Florence. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Florence?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.