Solar Panel Cost Guide in Laurens, SC (Mar 2023)
- Laurens Solar Installation Cost: $15,213
- 25-Year Savings: $28,139
- Payback Period: 8.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Laurens
Let's have a look at the average cost of solar panels in Laurens.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Laurens, the typical cost of solar panels is 2.72 per watt. The average solar panel system size in Laurens is around 8.0 kilowatts, meaning a cost of about $15,213 for a solar installation, or $21,755 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Laurens depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $21,000 over 20 years on power bills.
For a customized 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 | $-13,479 |
| 3 years | $-10,011 |
| 5 years | $-6,543 |
| 7 years | $-3,075 |
| 9 years | $394 |
| 11 years | $3,862 |
| 13 years | $7,330 |
| 15 years | $10,798 |
| 17 years | $14,266 |
| 19 years | $17,734 |
| 21 years | $21,202 |
| 23 years | $24,670 |
| 25 years | $28,139 |
Top Solar Installers in Laurens
Although it's possible to install solar panels yourself, it takes extra energy and know-how. That's why almost all homeowners choose to go with a solar panel installer. Some solar installers, particularly local ones, can help you take advantage of incentives in Laurens, therefore optimizing your ROI.
If you're on the hunt for a solar company 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 (coming 2022)
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 adopt solar energy rests on 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 a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,720. The model of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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
Most solar companies in Laurens have solar loans, which reduce your upfront costs of installing solar panels. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger 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 impact the cost. Laurens' solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
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. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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?
The average cost of solar panels in Laurens 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 such as the kind of solar panels you want, what size system you need and how much energy you consume.
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 way to go if you want to maximize your savings.
Does Laurens have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Laurens?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.