Solar Panel Cost Guide in Gaffney, SC (Mar 2023)
- Gaffney Solar Installation Cost: $15,403
- 25-Year Savings: $27,080
- Payback Period: 9.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gaffney
We break down average solar pricing in Gaffney.
The average cost of solar panels in Gaffney is 2.72 per watt. Using this figure, a typical 8.1-kW system would cost about $15,403 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely differ based on your energy needs and what company you choose to go with. Many homeowners find going solar is a solid investment. The average homeowner in Gaffney can save around $20,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Gaffney
| Year | Return on Investment |
|---|---|
| 1 years | $-13,704 |
| 3 years | $-10,305 |
| 5 years | $-6,907 |
| 7 years | $-3,508 |
| 9 years | $-109 |
| 11 years | $3,289 |
| 13 years | $6,688 |
| 15 years | $10,087 |
| 17 years | $13,485 |
| 19 years | $16,884 |
| 21 years | $20,283 |
| 23 years | $23,681 |
| 25 years | $27,080 |
Top Solar Installers in Gaffney
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make converting to solar power much easier. Plus, if you aren't sure what kind of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Gaffney
Factors that Affect Solar Panel Costs in Gaffney
For many Gaffney homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Gaffney, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,720. The type of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Gaffney homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Gaffney, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Gaffney have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $19,637 | 9.4 years |
| 8 kW | $2.77 | $15,537 | $26,487 | 9.2 years |
| 10 kW | $2.72 | $19,040 | $33,489 | 9.1 years |
| 12 kW | $2.67 | $22,391 | $40,644 | 8.9 years |
| 14 kW | $2.61 | $25,590 | $47,951 | 8.7 years |
| 16 kW | $2.56 | $28,636 | $55,411 | 8.5 years |
| 18 kW | $2.50 | $31,530 | $63,022 | 8.3 years |
| 20 kW | $2.45 | $34,272 | $70,787 | 8.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- 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 large role in the company you hire.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
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 Gaffney, SC Solar Cost FAQs
How much does it cost to install solar panels in Gaffney?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $13,600 for a 5-kW system and $27,200 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,050.59 per year.
How long do solar panels last in Gaffney?
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.