Solar Panel Cost Guide in Lake Wylie, SC (2024 Update)
- Lake Wylie Solar Installation Cost: $19,570
- 25-Year Savings: $23,911
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Lake Wylie
Let’s take a look at the average cost of solar panels in Lake Wylie.
In Lake Wylie, solar panels cost about 3 per watt on average.The average Lake Wylie homeowner needs a 8.1-kilowatt system, which would cost about $19,570 with the federal tax credit, or $27,985 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Lake Wylie homeowners. 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.With typical savings of about $18,000 on energy bills over 20 years, many homeowners in Lake Wylie find going solar can pay off big.
You can click the button below to get connected with a pre-vetted solar company in Lake Wylie for a quote for your home.
Solar savings over time in Lake Wylie
| Year | Return on Investment |
|---|---|
| 1 years | $-18,085 |
| 3 years | $-15,114 |
| 5 years | $-12,144 |
| 7 years | $-9,173 |
| 9 years | $-6,203 |
| 11 years | $-3,232 |
| 13 years | $-261 |
| 15 years | $2,709 |
| 17 years | $5,680 |
| 19 years | $8,650 |
| 21 years | $11,621 |
| 23 years | $14,591 |
| 25 years | $17,562 |
Top Solar Installers in Lake Wylie
Many homeowners opt for a solar installer since trying to install solar panels on your own can be challenging. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Lake Wylie
Factors that Affect Solar Panel Costs in Lake Wylie
For many Lake Wylie homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Lake Wylie, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,450. 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 energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Lake Wylie average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Lake Wylie, and each can charge different amounts for labor and equipment.Companies that only sell high-efficiency and high-priced 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 choose a company that provides the products, warranties and services you want 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 | $3.59 | $15,070 | $14,059 | 12.9 years |
| 8 kW | $3.52 | $19,706 | $19,131 | 12.7 years |
| 10 kW | $3.45 | $24,150 | $24,397 | 12.4 years |
| 12 kW | $3.38 | $28,400 | $29,856 | 12.2 years |
| 14 kW | $3.31 | $32,458 | $35,508 | 11.9 years |
| 16 kW | $3.24 | $36,322 | $41,354 | 11.7 years |
| 18 kW | $3.17 | $39,992 | $47,392 | 11.4 years |
| 20 kW | $3.11 | $43,470 | $53,624 | 11.2 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy 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.
- Warranty: If you’re worried about the longevity of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lake Wylie, SC Solar Cost FAQs
What is the average cost of installing solar panels in Lake Wylie?
The average cost of solar panels in Lake Wylie 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.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $970.94 per year.
How long do solar panels last in Lake Wylie?
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 larger level 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.
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.