Solar Panel Cost Guide in Honea Path, SC (Jan 2023)

  • Honea Path Solar Installation Cost: $15,251
  • 25-Year Savings: $28,881
  • Payback Period: 8.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Honea Path

Let's have a look at the average cost of solar panels in Honea Path.

The national average cost of solar panels is $2.66 per watt, but in Honea Path it's $3 per watt. The average Honea Path homeowner needs a 8.0-kilowatt system, which would cost about $15,251, or $11,286 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. For most homeowners, the upfront investment in solar is worth paying. On average Honea Path homeowners see about $21,000 in savings on energy bills over 20 years.

To receive a free estimate from a top solar installation company in Honea Path, you can click the button below.

Solar savings over time in Honea Path

Year Return on Investment
1 years $-13,486
3 years $-9,955
5 years $-6,425
7 years $-2,894
9 years $636
11 years $4,167
13 years $7,698
15 years $11,228
17 years $14,759
19 years $18,289
21 years $21,820
23 years $25,350
25 years $28,881

Top Solar Installers in Honea Path

Although you can install solar panels by yourself, it takes extra labor and handiness. That's one of the reasons the majority of homeowners choose a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be right for you.

Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Honea Path

Factors that Affect Solar Panel Costs in Honea Path

Even though the average cost of a solar system in Honea Path is $15,251, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,720 per kilowatt in Honea Path. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

If paying for a solar system in cash is difficult, solar loans are an affordable route because they decrease your upfront costs and let you pay for your system over five to seven years on average. Even though solar loans make adopting solar energy more accessible for Honea Path homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Honea Path, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.

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 $21,182 9.0 years
8 kW $2.77 $15,537 $28,547 8.8 years
10 kW $2.72 $19,040 $36,064 8.6 years
12 kW $2.67 $22,391 $43,734 8.5 years
14 kW $2.61 $25,590 $51,556 8.3 years
16 kW $2.56 $28,636 $59,531 8.1 years
18 kW $2.50 $31,530 $67,657 7.9 years
20 kW $2.45 $34,272 $75,936 7.8 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Contract: It's important to read 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.
  • Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
  • Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Honea Path, SC Solar Cost FAQs

What is the average cost of installing solar panels in Honea Path?

This is a difficult question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Honea Path?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 savings from going solar.

How will installing solar panels impact the value of my home?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Honea Path is currently $98,200, so you can expect a value of about $4,026 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Honea Path is a rewarding investment.

How many solar panels should I get to power my home?

To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.

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