Solar Panel Cost Guide in Mullins, SC (2023 Update)
- Mullins Solar Installation Cost: $15,251
- 25-Year Savings: $29,934
- Payback Period: 8.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mullins
See how much it might cost to install solar panels in Mullins.
Although the national average of solar panels is $2.66 per watt, solar panels in Mullins typically cost around 2.72. The average Mullins homeowner needs a 8.0-kilowatt system, which would cost about $15,251 with the federal tax credit, or $21,809 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Mullins see about $21,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Mullins for a quote for your home.
Solar savings over time in Mullins
| Year | Return on Investment |
|---|---|
| 1 years | $-13,444 |
| 3 years | $-9,829 |
| 5 years | $-6,214 |
| 7 years | $-2,599 |
| 9 years | $1,016 |
| 11 years | $4,630 |
| 13 years | $8,245 |
| 15 years | $11,860 |
| 17 years | $15,475 |
| 19 years | $19,090 |
| 21 years | $22,705 |
| 23 years | $26,319 |
| 25 years | $29,934 |
Top Solar Installers in Mullins
Many homeowners opt for a solar installer since trying to put up solar panels yourself can be challenging. Some solar companies, particularly local ones, can help you better understand incentives in Mullins, thereby optimizing your ROI.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Mullins
Factors that Affect Solar Panel Costs in Mullins
There are many factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use 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 type of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Mullins homeowners opt to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of financing options, 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 finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Mullins is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Mullins know more 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 help you save 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 brand of solar panels and the company you choose greatly 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:
- Warranty: If you care about the durability of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Well-established 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 quality aftercare and customer support, such as part repairs and replacements.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Mullins, SC Solar Cost FAQs
What is the average cost of installing solar panels in Mullins?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly 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 more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Mullins?
You can't get solar panels for free in Mullins. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Mullins, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having 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.