Solar Panel Cost Guide in Hanahan, SC (2024 Update)
- Hanahan Solar Installation Cost: $18,511
- 25-Year Savings: $31,976
- Payback Period: 9.9 Years
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Average Cost of Solar Panels in Hanahan
See how much it might cost to switch to solar power in Hanahan.
In Hanahan, solar panels cost about 3 per watt on average.To account for the typical energy needs of the average home in Hanahan, most homeowners require a 7.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $18,511, or $26,471 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Hanahan based on several factors, such as the type of solar panels you choose and the solar installer you hire.For many homeowners, the upfront cost of solar power is worth paying. On average Hanahan homeowners see about $24,000 in savings on electricity bills over 20 years.
To receive a free quote from a pre-vetted solar installer in Hanahan, you can click the button below.
Solar savings over time in Hanahan
| Year | Return on Investment |
|---|---|
| 1 years | $-16,771 |
| 3 years | $-13,290 |
| 5 years | $-9,809 |
| 7 years | $-6,328 |
| 9 years | $-2,848 |
| 11 years | $633 |
| 13 years | $4,114 |
| 15 years | $7,595 |
| 17 years | $11,076 |
| 19 years | $14,556 |
| 21 years | $18,037 |
| 23 years | $21,518 |
| 25 years | $24,999 |
Top Solar Installers in Hanahan
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your switch to solar power much easier. The expertise that solar installers provide can be useful as well, particularly if you aren’t sure what type of solar equipment would be right for your home.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Hanahan
Factors that Affect Solar Panel Costs in Hanahan
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Hanahan: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production 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 $3,450.There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want 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
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they cut back your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your total costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Hanahan, and each can charge varying amounts for labor and equipment.Additionally, some companies in Hanahan know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $3.59 | $15,070 | $21,384 | 10.3 years |
| 8 kW | $3.52 | $19,706 | $28,898 | 10.1 years |
| 10 kW | $3.45 | $24,150 | $36,605 | 9.9 years |
| 12 kW | $3.38 | $28,400 | $44,506 | 9.7 years |
| 14 kW | $3.31 | $32,458 | $52,600 | 9.5 years |
| 16 kW | $3.24 | $36,322 | $60,887 | 9.3 years |
| 18 kW | $3.17 | $39,992 | $69,367 | 9.1 years |
| 20 kW | $3.11 | $43,470 | $78,041 | 8.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Hanahan, SC Solar Cost FAQs
How much does it cost to install solar panels in Hanahan?
The average cost of solar panels in Hanahan is about $17,250 for a 5-kW system and $34,500 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Hanahan?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How will installing solar panels impact my home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go 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 solar panels."
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 the amount of sunlight your roof gets. You can take a 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 install 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.