Solar Panel Cost Guide in Florence, SC (2024 Update)
- Florence Solar Installation Cost: $19,241
- 25-Year Savings: $28,605
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Florence
Find out what the average cost of a solar system is in Florence.
While the national average of solar panels is $2.66 per watt, solar panels in Florence typically cost around 3.The average solar panel system size in Florence is around 8.0 kilowatts, meaning a cost of about $19,241 for a solar installation, or $27,515 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Florence homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the high initial cost, the average Florence homeowner can save about $21,000 on their electricity bills over 20 years, which is one of the perks of solar.
To receive a free quote from a top solar installer in Florence, you can click the button below.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-17,683 |
| 3 years | $-14,567 |
| 5 years | $-11,451 |
| 7 years | $-8,335 |
| 9 years | $-5,219 |
| 11 years | $-2,103 |
| 13 years | $1,013 |
| 15 years | $4,129 |
| 17 years | $7,245 |
| 19 years | $10,361 |
| 21 years | $13,477 |
| 23 years | $16,593 |
| 25 years | $19,709 |
Top Solar Installers in Florence
Although it's possible to install solar panels by yourself, it requires extra time and know-how. That's one of the reasons the majority of homeowners choose a solar panel installer. The payback period on a solar system will vary depending on factors like your roof configuration and energy needs, but going with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our suggestions for providers near you:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Florence
Factors that Affect Solar Panel Costs in Florence
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average 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
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,450.The type of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, 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
Many homeowners find the average cost of solar in Florence to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.Although solar loans make adopting solar energy more accessible for Florence homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Florence is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment 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 | $3.59 | $15,070 | $17,895 | 11.4 years |
| 8 kW | $3.52 | $19,706 | $24,247 | 11.2 years |
| 10 kW | $3.45 | $24,150 | $30,792 | 11.0 years |
| 12 kW | $3.38 | $28,400 | $37,530 | 10.8 years |
| 14 kW | $3.31 | $32,458 | $44,461 | 10.5 years |
| 16 kW | $3.24 | $36,322 | $51,585 | 10.3 years |
| 18 kW | $3.17 | $39,992 | $58,902 | 10.1 years |
| 20 kW | $3.11 | $43,470 | $66,413 | 9.9 years |
How to Save on Solar Panels
There are many 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:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: When making the switch to solar, it’s necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 $17,250 for a 5-kW system and $34,500 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind 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?
A solar panel system isn’t free in Florence, 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.
Is it worth going solar in Florence?
Solar panels can be a fruitful 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 pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.