Solar Panel Cost Guide in Murrells Inlet, SC (2025 Update)
- Murrells Inlet Solar Installation Cost: $18,346
- 25-Year Savings: $32,106
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in Murrells Inlet
We go over average solar pricing in Murrells Inlet.
While the national average of solar panels is $2.66 per watt, solar panels in Murrells Inlet typically cost around 3.Since a 7.6-kW system is needed to cover the energy consumption of a typical home in Murrells Inlet, the average price of going solar will be about $18,346 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what installation company you go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $23,000 over 20 years on utility bills.
To get a free estimate from a pre-vetted solar installer in Murrells Inlet, you can click the button below.
Solar savings over time in Murrells Inlet
| Year | Return on Investment |
|---|---|
| 1 years | $-16,564 |
| 3 years | $-13,000 |
| 5 years | $-9,436 |
| 7 years | $-5,872 |
| 9 years | $-2,308 |
| 11 years | $1,256 |
| 13 years | $4,820 |
| 15 years | $8,384 |
| 17 years | $11,948 |
| 19 years | $15,512 |
| 21 years | $19,076 |
| 23 years | $22,640 |
| 25 years | $26,204 |
Top Solar Installers in Murrells Inlet
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make swapping over to solar power much easier. Another great thing about using a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Murrells Inlet
Factors that Affect Solar Panel Costs in Murrells Inlet
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Murrells Inlet: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Murrells Inlet, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $3,450 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, 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 looking into 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 Murrells Inlet 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 amount of 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 interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Murrells Inlet, and each can charge different amounts for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that has the products, warranties and services you want and also is within your budget.
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 | $21,711 | 10.2 years |
| 8 kW | $3.52 | $19,706 | $29,335 | 10.0 years |
| 10 kW | $3.45 | $24,150 | $37,151 | 9.8 years |
| 12 kW | $3.38 | $28,400 | $45,161 | 9.7 years |
| 14 kW | $3.31 | $32,458 | $53,364 | 9.5 years |
| 16 kW | $3.24 | $36,322 | $61,761 | 9.3 years |
| 18 kW | $3.17 | $39,992 | $70,350 | 9.1 years |
| 20 kW | $3.11 | $43,470 | $79,133 | 8.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Contract: Read the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
EcoWatch's Murrells Inlet, SC Solar Cost FAQs
What is the average cost of installing solar panels in Murrells Inlet?
The average cost of solar panels in Murrells Inlet 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 things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Murrells Inlet?
You can’t get solar panels for free in Murrells Inlet. However, you may still be able to get 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.
Do solar panels increase the value of your home?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose 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.