Solar Panel Cost Guide in Golden Grove, SC (2023 Update)
- Golden Grove Solar Installation Cost: $15,365
- 25-Year Savings: $30,247
- Payback Period: 8.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Golden Grove
Here's how much it might cost to install solar panels in Golden Grove.
The national average cost of solar panels is $2.66 per watt, but in Golden Grove it's 2.72 per watt. Using this figure, a typical 8.1-kW system would cost about $15,365 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. With average savings of about $21,000 on power bills over 20 years, many homeowners in Golden Grove find installing solar panels can pay off big.
To get a free estimate from a top solar installer in Golden Grove, you can click the button below.
Solar savings over time in Golden Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-13,541 |
| 3 years | $-9,892 |
| 5 years | $-6,243 |
| 7 years | $-2,594 |
| 9 years | $1,055 |
| 11 years | $4,704 |
| 13 years | $8,353 |
| 15 years | $12,002 |
| 17 years | $15,651 |
| 19 years | $19,300 |
| 21 years | $22,949 |
| 23 years | $26,598 |
| 25 years | $30,247 |
Top Solar Installers in Golden Grove
When switching to solar energy, many homeowners prefer to use a solar installer since installing a solar system yourself can be a time-consuming project. Plus, if you're unsure what type of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a vetted 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
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 Golden Grove
Factors that Affect Solar Panel Costs in Golden Grove
The cost of installing a solar system in Golden Grove can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Golden Grove, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $2,720 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Golden Grove offer solar loans, which reduce your upfront costs of installing a solar system. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, 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 installation company you pick will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Some companies 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 cost more. It's best to do some research and decide on the company that offers the products, warranties and services you want and also fits 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 | $2.83 | $11,881 | $22,012 | 8.8 years |
| 8 kW | $2.77 | $15,537 | $29,654 | 8.6 years |
| 10 kW | $2.72 | $19,040 | $37,448 | 8.4 years |
| 12 kW | $2.67 | $22,391 | $45,395 | 8.3 years |
| 14 kW | $2.61 | $25,590 | $53,493 | 8.1 years |
| 16 kW | $2.56 | $28,636 | $61,745 | 7.9 years |
| 18 kW | $2.50 | $31,530 | $70,148 | 7.8 years |
| 20 kW | $2.45 | $34,272 | $78,704 | 7.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar installer, be sure to look it over 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.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
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 Golden Grove, SC Solar Cost FAQs
What is the average cost of installing solar panels in Golden Grove?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Golden Grove?
Leasing solar panels can be an appealing choice, because it typically 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 get the most savings.
How will having 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 opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 goes down 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.