Solar Panel Cost Guide in Greenville, SC (Mar 2023)
- Greenville Solar Installation Cost: $15,365
- 25-Year Savings: $26,807
- Payback Period: 9.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Greenville
Let's have a look at the average cost of solar in Greenville.
The national average cost of solar panels is $2.66 per watt, but in Greenville it's 2.72 per watt. The average solar panel system size in Greenville is around 8.1 kilowatts, meaning a cost of about $15,365 for a solar installation, or $21,972 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Greenville homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a sound investment. The average homeowner in Greenville can save about $20,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Greenville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Greenville
| Year | Return on Investment |
|---|---|
| 1 years | $-13,678 |
| 3 years | $-10,305 |
| 5 years | $-6,931 |
| 7 years | $-3,557 |
| 9 years | $-183 |
| 11 years | $3,191 |
| 13 years | $6,564 |
| 15 years | $9,938 |
| 17 years | $13,312 |
| 19 years | $16,686 |
| 21 years | $20,060 |
| 23 years | $23,433 |
| 25 years | $26,807 |
Top Solar Installers in Greenville
Putting up solar panels yourself can be a difficult task, which is why using a solar installer is a good option for many homeowners. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Greenville
Factors that Affect Solar Panel Costs in Greenville
The cost of installing a solar system in Greenville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have 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. The brand of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Greenville homeowners choose to finance their solar panel systems to offset upfront costs. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can play a part in determining your pricing. Greenville's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that provides the products, warranties and services you're looking for and also fit into 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 | $19,456 | 9.5 years |
| 8 kW | $2.77 | $15,537 | $26,246 | 9.3 years |
| 10 kW | $2.72 | $19,040 | $33,189 | 9.1 years |
| 12 kW | $2.67 | $22,391 | $40,283 | 8.9 years |
| 14 kW | $2.61 | $25,590 | $47,530 | 8.7 years |
| 16 kW | $2.56 | $28,636 | $54,929 | 8.6 years |
| 18 kW | $2.50 | $31,530 | $62,481 | 8.4 years |
| 20 kW | $2.45 | $34,272 | $70,185 | 8.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: Before you sign a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The brand of solar panel you'd like to install plays a part in which company you should choose, since different companies have access to different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Greenville, SC Solar Cost FAQs
What is the average cost of installing solar panels in Greenville?
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 additional solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Greenville?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Greenville?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can 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 buy between 20 and 35 panels to account for 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.