Solar Panel Cost Guide in Moncks Corner, SC (2024 Update)
- Moncks Corner Solar Installation Cost: $18,511
- 25-Year Savings: $31,901
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in Moncks Corner
Find out what the average cost of installing solar panels is in Moncks Corner.
While the national average of solar panels is $2.66 per watt, solar panels in Moncks Corner generally cost around 3.Using this figure, a typical 7.7-kW system would cost about $18,511 before the 0 federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you may look different based on factors unique to your home and what company you want to go with.With typical savings of about $24,000 on power bills over 20 years, many homeowners in Moncks Corner find investing in solar can be quite rewarding.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Moncks Corner
| Year | Return on Investment |
|---|---|
| 1 years | $-16,771 |
| 3 years | $-13,290 |
| 5 years | $-9,809 |
| 7 years | $-6,328 |
| 9 years | $-2,848 |
| 11 years | $633 |
| 13 years | $4,114 |
| 15 years | $7,595 |
| 17 years | $11,076 |
| 19 years | $14,556 |
| 21 years | $18,037 |
| 23 years | $21,518 |
| 25 years | $24,999 |
Top Solar Installers in Moncks Corner
Although you can install solar panels yourself, it takes extra time and expertise. For that reason, most homeowners choose to go with a solar panel installer. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Moncks Corner
Factors that Affect Solar Panel Costs in Moncks Corner
Although the average cost of a solar system in Moncks Corner is $18,511, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,450. The kind of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond 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 looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea 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
Finally, the company you hire to install your solar system can play a part in determining the cost. Moncks Corner’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Moncks Corner have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $3.59 | $15,070 | $21,325 | 10.4 years |
| 8 kW | $3.52 | $19,706 | $28,820 | 10.2 years |
| 10 kW | $3.45 | $24,150 | $36,508 | 10.0 years |
| 12 kW | $3.38 | $28,400 | $44,389 | 9.8 years |
| 14 kW | $3.31 | $32,458 | $52,464 | 9.6 years |
| 16 kW | $3.24 | $36,322 | $60,731 | 9.4 years |
| 18 kW | $3.17 | $39,992 | $69,192 | 9.2 years |
| 20 kW | $3.11 | $43,470 | $77,846 | 9.0 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your overall 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 take into account, such as:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Moncks Corner, SC Solar Cost FAQs
How much does it cost to install solar panels in Moncks Corner?
The average cost of solar panels in Moncks Corner 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 kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Moncks Corner?
Leasing solar panels can be an attractive choice, as it usually 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How will having solar panels impact the value of my home?
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 Moncks Corner is currently $353,759, which means you could be looking at a value of about $14,504 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Moncks Corner is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.