Solar Panel Cost Guide in Georgetown, SC (2023 Update)
- Georgetown Solar Installation Cost: $14,470
- 25-Year Savings: $29,082
- Payback Period: 8.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Georgetown
Here's how much it might cost to make the switch to solar in Georgetown.
Although the national average of solar panels is $2.66 per watt, solar panels in Georgetown generally cost about 2.72. The average solar panel system size in Georgetown is around 7.6 kilowatts, meaning a cost of about $14,470 for a solar installation, or $20,692 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Georgetown homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Even with the large initial cost, the average Georgetown homeowner can save around $22,000 on their power bills over 20 years, which is one of the benefits of solar.
To get a free quote from a highly rated solar installation company in Georgetown, you can click the button below.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-12,728 |
| 3 years | $-9,244 |
| 5 years | $-5,760 |
| 7 years | $-2,276 |
| 9 years | $1,208 |
| 11 years | $4,693 |
| 13 years | $8,177 |
| 15 years | $11,661 |
| 17 years | $15,145 |
| 19 years | $18,629 |
| 21 years | $22,113 |
| 23 years | $25,598 |
| 25 years | $29,082 |
Top Solar Installers in Georgetown
Although you can install solar panels on your own, it takes extra effort and know-how. For that reason, almost all homeowners choose a solar panel installer. Companies can also have access to quality options of the best solar panels and help you choose which one will be best for your family.
If you're looking for a solar company in Georgetown, the EcoWatch team has compiled a list of our top suggestions here:
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 Georgetown
Factors that Affect Solar Panel Costs in Georgetown
There are a number of factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most significant 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 around $2,720 per kilowatt in Georgetown. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Georgetown, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Georgetown, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. It's wise to factor 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 off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can affect how much it costs. Georgetown's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $22,516 | 8.6 years |
| 8 kW | $2.77 | $15,537 | $30,327 | 8.5 years |
| 10 kW | $2.72 | $19,040 | $38,289 | 8.3 years |
| 12 kW | $2.67 | $22,391 | $46,404 | 8.1 years |
| 14 kW | $2.61 | $25,590 | $54,671 | 8.0 years |
| 16 kW | $2.56 | $28,636 | $63,090 | 7.8 years |
| 18 kW | $2.50 | $31,530 | $71,662 | 7.6 years |
| 20 kW | $2.45 | $34,272 | $80,386 | 7.5 years |
How to Save on Solar Panels
There are a large number of companies available in Georgetown, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 Georgetown, SC Solar Cost FAQs
What is the average cost of installing solar panels in Georgetown?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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 other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons 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 electricity bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Georgetown, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 larger 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.