Solar Panel Cost Guide in Georgetown, SC (2024 Update)
- Georgetown Solar Installation Cost: $18,346
- 25-Year Savings: $29,088
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Georgetown
We break down average solar pricing in Georgetown.
The national average cost of solar panels is $2.66 per watt, but in Georgetown it’s 3 per watt.To account for the typical energy needs of the average home in Georgetown, most homeowners require a 7.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $18,346, or $26,235 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of equipment you want, your solar contractor and more.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $22,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar installer in your area for a personalized estimate.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-16,617 |
| 3 years | $-13,159 |
| 5 years | $-9,700 |
| 7 years | $-6,242 |
| 9 years | $-2,783 |
| 11 years | $675 |
| 13 years | $4,134 |
| 15 years | $7,592 |
| 17 years | $11,051 |
| 19 years | $14,509 |
| 21 years | $17,968 |
| 23 years | $21,426 |
| 25 years | $24,885 |
Top Solar Installers in Georgetown
When switching to solar energy, many homeowners choose to use a solar company since DIY solar panel installation can be a difficult project. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
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 near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Georgetown
Factors that Affect Solar Panel Costs in Georgetown
The cost of installing a solar system in Georgetown can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,450. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only 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 considerably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating in Georgetown, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $19,328 | 11.0 years |
| 8 kW | $3.52 | $19,706 | $26,157 | 10.7 years |
| 10 kW | $3.45 | $24,150 | $33,179 | 10.5 years |
| 12 kW | $3.38 | $28,400 | $40,394 | 10.3 years |
| 14 kW | $3.31 | $32,458 | $47,803 | 10.1 years |
| 16 kW | $3.24 | $36,322 | $55,405 | 9.9 years |
| 18 kW | $3.17 | $39,992 | $63,200 | 9.7 years |
| 20 kW | $3.11 | $43,470 | $71,188 | 9.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Georgetown, SC Solar Cost FAQs
What is the average cost of installing solar panels in Georgetown?
The average cost of solar panels in Georgetown 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 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 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.
Is it worth going solar in Georgetown?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
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.