Solar Panel Cost Guide in Fort Mill, SC (Nov 2022)

  • Fort Mill Solar Installation Cost: $15,422
  • 25-Year Savings: $23,918
  • Payback Period: 9.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Fort Mill

Find out what the average cost of solar panel installation is in Fort Mill.

Although the national average of solar panels is $2.66 per watt, solar panels in Fort Mill typically cost about $3. The average Fort Mill homeowner needs a 8.1-kilowatt system, which would cost about $15,422, or $11,412 after the federal solar tax credit of 30% is applied.

These figures are only averages, and how much solar costs for you may vary based on the amount of energy your home requires and what company you want to go with. Even with the high upfront cost, the average Fort Mill homeowner can save around $18,000 on their power bills over 20 years, which is one of the perks of solar.

Click the button below to get connected to a highly rated solar panel company in your area for a personalized quote.

Solar savings over time in Fort Mill

Year Return on Investment
1 years $-13,849
3 years $-10,702
5 years $-7,554
7 years $-4,407
9 years $-1,260
11 years $1,887
13 years $5,035
15 years $8,182
17 years $11,329
19 years $14,476
21 years $17,623
23 years $20,771
25 years $23,918

Top Solar Installers in Fort Mill

Although you can install solar panels on your own, it requires extra energy and handiness. That's why almost all homeowners choose to go with a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.

You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:

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 Fort Mill

Factors that Affect Solar Panel Costs in Fort Mill

For many Fort Mill homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Fort Mill, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment

The size of the solar panel system you need for your home is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,720. The type of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, 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 into a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Fort Mill to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. You'll have to consider the long-term cost of financing options, including the amount of 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

The solar company you choose will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Fort Mill know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.

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 $17,247 10.2 years
8 kW $2.77 $15,537 $23,301 10.0 years
10 kW $2.72 $19,040 $29,507 9.8 years
12 kW $2.67 $22,391 $35,865 9.6 years
14 kW $2.61 $25,590 $42,376 9.4 years
16 kW $2.56 $28,636 $49,039 9.2 years
18 kW $2.50 $31,530 $55,854 9.0 years
20 kW $2.45 $34,272 $62,822 8.8 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 decide on the right company for you, here are some tips to keep in mind:

  • Contract: Before you sign a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
  • Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.

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 Fort Mill, SC Solar Cost FAQs

What is the average cost of installing solar panels in Fort Mill?

The average cost of solar panels in Fort Mill 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 like the model of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important consideration when buying solar panels?

The initial cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.

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

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $970.94 per year.

How long do solar panels last in Fort Mill?

Though 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 their energy production will have decreased significantly after that point. You can 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.

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