Solar Panel Cost Guide in Gaffney, SC (2024 Update)
- Gaffney Solar Installation Cost: $19,531
- 25-Year Savings: $27,085
- Payback Period: 11.5 Years
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Average Cost of Solar Panels in Gaffney
Let’s have a look at the average cost of solar panels in Gaffney.
The national average cost of solar panels is $2.66 per watt, but in Gaffney it’s 3 per watt.To cover the typical energy usage of the average home in Gaffney, most homeowners require a 8.1-kilowatt system. Using the figure above, a solar installation costs around $19,531, or $27,929 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Gaffney 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.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $20,000 over 20 years on electricity bills.
You can click the button below to get connected with a vetted solar installer in Gaffney that can help you get a more accurate cost estimate for your home.
Solar savings over time in Gaffney
| Year | Return on Investment |
|---|---|
| 1 years | $-18,046 |
| 3 years | $-15,075 |
| 5 years | $-12,105 |
| 7 years | $-9,134 |
| 9 years | $-6,164 |
| 11 years | $-3,193 |
| 13 years | $-223 |
| 15 years | $2,748 |
| 17 years | $5,718 |
| 19 years | $8,689 |
| 21 years | $11,659 |
| 23 years | $14,630 |
| 25 years | $17,600 |
Top Solar Installers in Gaffney
Many homeowners decide to use a solar installer since trying to install solar panels on your own can be a lot of work. The payback period on an investment in solar panels will vary based on factors like your location and energy consumption, but working with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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 Gaffney
Factors that Affect Solar Panel Costs in Gaffney
The cost of installing a solar system in Gaffney can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,450 per kilowatt in Gaffney.The type of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions 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’s in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Gaffney, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Gaffney, and each can charge different amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you’re looking for and also is within your budget.
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 | $16,448 | 12.0 years |
| 8 kW | $3.52 | $19,706 | $22,317 | 11.7 years |
| 10 kW | $3.45 | $24,150 | $28,379 | 11.5 years |
| 12 kW | $3.38 | $28,400 | $34,635 | 11.3 years |
| 14 kW | $3.31 | $32,458 | $41,083 | 11.0 years |
| 16 kW | $3.24 | $36,322 | $47,725 | 10.8 years |
| 18 kW | $3.17 | $39,992 | $54,560 | 10.6 years |
| 20 kW | $3.11 | $43,470 | $61,589 | 10.3 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 decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The kind of solar panel you’d like plays a part in which company you should go with, since different companies have access to different panels.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project timeline.
- Warranty: If you care about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
Best National Provider
SunPower
- 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
- 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 Gaffney, SC Solar Cost FAQs
What is the average cost of installing solar panels in Gaffney?
The average cost of solar panels in Gaffney is about $17,250 for a 5-kW system and $34,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Gaffney?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires 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 house 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.