Solar Panel Cost Guide in Laurens, SC (2023 Update)
- Laurens Solar Installation Cost: $15,209
- 25-Year Savings: $28,143
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Laurens
Find out what the average cost of installing solar panels is in Laurens.
While the national average of solar panels is $2.66 per watt, solar panels in Laurens typically cost around 2.72. Since a 8.0-kW system is needed to cover the energy costs of a typical home in Laurens, the average price of going solar will be about $15,213 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and the cost of going solar for you will vary based on your specific situation and what company you choose to go with. With average savings of about $21,000 on electricity bills over 20 years, many homeowners in Laurens find investing in solar can be quite rewarding.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Laurens
| Year | Return on Investment |
|---|---|
| 1 years | $-15,064 |
| 3 years | $-14,775 |
| 5 years | $-14,486 |
| 7 years | $-14,197 |
| 9 years | $-13,908 |
| 11 years | $-13,619 |
| 13 years | $-13,330 |
| 15 years | $-13,041 |
| 17 years | $-12,752 |
| 19 years | $-12,463 |
| 21 years | $-12,174 |
| 23 years | $-11,885 |
| 25 years | $-11,596 |
Top Solar Installers in Laurens
Many homeowners decide to hire a solar installer since installing solar panels on your own can be hard. The payback period on a solar system will vary based on factors like your location and energy use, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
If you're looking for a solar installer in Laurens, the EcoWatch team has organized a list of our top suggestions here:
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 Laurens
Factors that Affect Solar Panel Costs in Laurens
For many Laurens homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Laurens, with typical prices between $20,000 to $40,000. There are numerous 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 influences the overall cost of going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Laurens homeowners decide to finance their solar panel systems to make paying for solar more affordable. Although solar loans make switching to solar energy more accessible for Laurens homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Laurens have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $2.83 | $11,881 | $20,682 | 9.1 years |
| 8 kW | $2.77 | $15,537 | $27,881 | 8.9 years |
| 10 kW | $2.72 | $19,040 | $35,232 | 8.8 years |
| 12 kW | $2.67 | $22,391 | $42,735 | 8.6 years |
| 14 kW | $2.61 | $25,590 | $50,391 | 8.4 years |
| 16 kW | $2.56 | $28,636 | $58,199 | 8.2 years |
| 18 kW | $2.50 | $31,530 | $66,159 | 8.1 years |
| 20 kW | $2.45 | $34,272 | $74,272 | 7.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: If you're concerned about the endurance of your solar system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a good reputation as a company and have proven 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.
- Solar Panel Brands: The brand of solar panel you'd like plays a part in which installer you should choose, since different companies offer different panels.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
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 Laurens, SC Solar Cost FAQs
How much does it cost to install solar panels in Laurens?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Laurens?
Leasing solar panels can be an appealing choice, because it often 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 option if you want to maximize your savings.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Laurens, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.