Solar Panel Cost Guide in Gaffney, SC (2023 Update)
- Gaffney Solar Installation Cost: $15,399
- 25-Year Savings: $27,085
- Payback Period: 9.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Gaffney
Find out what the average cost of solar panels are in Gaffney.
The average cost of a solar panel system in Gaffney is 2.72 per watt. Since a 8.1-kW system is needed to cover the energy costs of a typical home in Gaffney, the average price of going solar will be about $15,403 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $20,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company 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 | $-13,913 |
| 3 years | $-10,943 |
| 5 years | $-7,972 |
| 7 years | $-5,002 |
| 9 years | $-2,031 |
| 11 years | $939 |
| 13 years | $3,910 |
| 15 years | $6,880 |
| 17 years | $9,851 |
| 19 years | $12,822 |
| 21 years | $15,792 |
| 23 years | $18,763 |
| 25 years | $21,733 |
Top Solar Installers in Gaffney
Trying to install solar panels by yourself can be a dangerous undertaking, which is why getting a solar installer is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:
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
While the average cost of a solar system in Gaffney is $15,403, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need 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 $2,720. There are several different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Gaffney provide solar loans, which reduce the initial cost of installing solar. Although solar loans make switching to solar energy more accessible for Gaffney homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Gaffney, and each can charge different 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 pricing, or you might see small, local installation companies offering deals or specials 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 | $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
Since the brand of solar panels and the company you choose considerably impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When going 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 timeline.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
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?
This is a tough 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will solar panels impact my property value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't choose 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."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 get 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.