Solar Panel Cost Guide in Greenville, SC (2023 Update)
- Greenville Solar Installation Cost: $15,374
- 25-Year Savings: $26,799
- Payback Period: 9.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Greenville
Here's how much it might cost to go solar in Greenville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Greenville, the typical cost of a solar system is 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.
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 consumption, the type of solar system you want, your solar contractor and more. Despite the high upfront cost, the average Greenville homeowner can save about $20,000 on their power bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a highly rated solar company in your area for a customized estimate.
Solar savings over time in Greenville
| Year | Return on Investment |
|---|---|
| 1 years | $-13,889 |
| 3 years | $-10,918 |
| 5 years | $-7,948 |
| 7 years | $-4,977 |
| 9 years | $-2,007 |
| 11 years | $964 |
| 13 years | $3,934 |
| 15 years | $6,905 |
| 17 years | $9,876 |
| 19 years | $12,846 |
| 21 years | $15,817 |
| 23 years | $18,787 |
| 25 years | $21,758 |
Top Solar Installers in Greenville
Although it's possible to install solar panels yourself, it involves extra time and knowledge. For that reason, the majority of homeowners choose to go with a solar panel installer. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're on the hunt for a solar company in Greenville, 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 Greenville
Factors that Affect Solar Panel Costs in Greenville
For many Greenville homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Greenville, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, extra products, like solar batteries, can bring your total well above the Greenville average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Greenville, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the total 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Greenville is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, you'll have many options for solar installers that offer a range of services for different budgets. Additionally, some companies in Greenville have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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
There are many companies to choose from in Greenville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project timeline.
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Warranty: If you care about the durability of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 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. 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 more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
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?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.