Solar Panel Cost Guide in Marion, SC (2023 Update)
- Marion Solar Installation Cost: $15,251
- 25-Year Savings: $29,934
- Payback Period: 8.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Marion
See how much it might cost to make the switch to solar in Marion.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Marion, the typical cost of a solar system is 2.72 per watt. Using this figure, a typical 8.0-kW system would cost about $15,251 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will differ based on your energy needs and what company you want to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Marion can save around $21,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized quote.
Solar savings over time in Marion
| Year | Return on Investment |
|---|---|
| 1 years | $-15,100 |
| 3 years | $-14,799 |
| 5 years | $-14,498 |
| 7 years | $-14,197 |
| 9 years | $-13,895 |
| 11 years | $-13,594 |
| 13 years | $-13,293 |
| 15 years | $-12,992 |
| 17 years | $-12,690 |
| 19 years | $-12,389 |
| 21 years | $-12,088 |
| 23 years | $-11,787 |
| 25 years | $-11,485 |
Top Solar Installers in Marion
Installing solar panels yourself can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be right for you.
If you're searching for a solar installer in Marion, the EcoWatch team has put together 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 Marion
Factors that Affect Solar Panel Costs in Marion
There are many factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation 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. There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Marion, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Marion, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Marion have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $21,966 | 8.8 years |
| 8 kW | $2.77 | $15,537 | $29,592 | 8.6 years |
| 10 kW | $2.72 | $19,040 | $37,371 | 8.4 years |
| 12 kW | $2.67 | $22,391 | $45,302 | 8.3 years |
| 14 kW | $2.61 | $25,590 | $53,385 | 8.1 years |
| 16 kW | $2.56 | $28,636 | $61,621 | 7.9 years |
| 18 kW | $2.50 | $31,530 | $70,009 | 7.8 years |
| 20 kW | $2.45 | $34,272 | $78,550 | 7.6 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which company you should choose, since different companies have access to different panels.
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 Marion, SC Solar Cost FAQs
What is the average cost of installing solar panels in Marion?
This is a difficult question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Marion?
Leasing solar panels can be an appealing choice, as 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 get the most savings.
Can you sell solar power back to the grid in Marion?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.