Solar Panel Cost Guide in Honea Path, SC (2025 Update)
- Honea Path Solar Installation Cost: $19,341
- 25-Year Savings: $28,883
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Honea Path
Let’s take 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.Using this figure, a typical 8.0-kW system would cost about $19,341 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Honea Path 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 adopting solar power is a rewarding investment. The average homeowner in Honea Path can save around $21,000 on their energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Honea Path
| Year | Return on Investment |
|---|---|
| 1 years | $-17,856 |
| 3 years | $-14,885 |
| 5 years | $-11,915 |
| 7 years | $-8,944 |
| 9 years | $-5,974 |
| 11 years | $-3,003 |
| 13 years | $-33 |
| 15 years | $2,938 |
| 17 years | $5,908 |
| 19 years | $8,879 |
| 21 years | $11,849 |
| 23 years | $14,820 |
| 25 years | $17,791 |
Top Solar Installers in Honea Path
Putting up solar panels by yourself can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for your family.
If you're searching for a solar company in Honea Path, we've compiled a list of our top suggestions here:
See all of the solar companies in Honea Path
Factors that Affect Solar Panel Costs in Honea Path
There are a number of criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,450. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Honea Path to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.However, the interest on solar loans also adds to your total costs, so it’s important to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can impact how much it costs. Honea Path’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $3.59 | $15,070 | $17,993 | 11.4 years |
| 8 kW | $3.52 | $19,706 | $24,377 | 11.2 years |
| 10 kW | $3.45 | $24,150 | $30,954 | 11.0 years |
| 12 kW | $3.38 | $28,400 | $37,725 | 10.7 years |
| 14 kW | $3.31 | $32,458 | $44,688 | 10.5 years |
| 16 kW | $3.24 | $36,322 | $51,845 | 10.3 years |
| 18 kW | $3.17 | $39,992 | $59,195 | 10.1 years |
| 20 kW | $3.11 | $43,470 | $66,738 | 9.9 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. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
EcoWatch's Honea Path, SC Solar Cost FAQs
What is the average cost of installing solar panels in Honea Path?
The average cost of solar panels in Honea Path 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 certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Honea Path?
Leasing solar panels can be an attractive 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will installing solar panels impact how much my home is worth?
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 $192,111, which means you can look forward to a value of about $7,877 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Honea Path is a fruitful investment.
How long do solar panels last in Honea Path?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.