Solar Panel Cost Guide in Lancaster, SC (2023 Update)
- Lancaster Solar Installation Cost: $15,308
- 25-Year Savings: $29,206
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lancaster
Let's have a look at the average cost of solar in Lancaster.
The national average cost of solar panels is $2.66 per watt, but in Lancaster it's 2.72 per watt. The average Lancaster homeowner needs a 8.0-kilowatt system, which would cost about $15,308 with the federal tax credit, or $21,890 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Lancaster homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a sound investment. The average homeowner in Lancaster can save about $21,000 on their energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lancaster
| Year | Return on Investment |
|---|---|
| 1 years | $-13,528 |
| 3 years | $-9,966 |
| 5 years | $-6,405 |
| 7 years | $-2,844 |
| 9 years | $717 |
| 11 years | $4,278 |
| 13 years | $7,839 |
| 15 years | $11,401 |
| 17 years | $14,962 |
| 19 years | $18,523 |
| 21 years | $22,084 |
| 23 years | $25,645 |
| 25 years | $29,206 |
Top Solar Installers in Lancaster
When making the switch to solar, many homeowners decide to hire a solar company since installing solar panels yourself can be a difficult project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't certain which solar panel installer to go with, here are our suggestions for providers nearby:
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 Lancaster
Factors that Affect Solar Panel Costs in Lancaster
For many Lancaster homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Lancaster, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Lancaster to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time due to interest. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a part in determining the cost. Lancaster's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $21,336 | 8.9 years |
| 8 kW | $2.77 | $15,537 | $28,753 | 8.8 years |
| 10 kW | $2.72 | $19,040 | $36,322 | 8.6 years |
| 12 kW | $2.67 | $22,391 | $44,044 | 8.4 years |
| 14 kW | $2.61 | $25,590 | $51,918 | 8.3 years |
| 16 kW | $2.56 | $28,636 | $59,944 | 8.1 years |
| 18 kW | $2.50 | $31,530 | $68,122 | 7.9 years |
| 20 kW | $2.45 | $34,272 | $76,453 | 7.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose greatly affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- 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 big role in the company you choose.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
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 Lancaster, SC Solar Cost FAQs
What is the average cost of installing solar panels in Lancaster?
The average cost of solar panels in Lancaster is about $13,600 for a 5-kW system and $27,200 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront 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 cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lancaster is currently $128,500, so you can look forward to a value of about $5,268 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lancaster is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.
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.