Solar Panel Cost Guide in Parker, SC (2023 Update)
- Parker Solar Installation Cost: $15,374
- 25-Year Savings: $30,238
- Payback Period: 8.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Parker
Find out what the average cost of installing solar panels is in Parker.
The average cost of a solar panel system in Parker is 2.72 per watt. Using this figure, a typical 8.1-kW system would cost about $15,365 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more. With average savings of about $21,000 on power bills over 20 years, many homeowners in Parker find going solar can pay off big.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Parker
| Year | Return on Investment |
|---|---|
| 1 years | $-13,889 |
| 3 years | $-10,918 |
| 5 years | $-7,948 |
| 7 years | $-4,977 |
| 9 years | $-2,007 |
| 11 years | $964 |
| 13 years | $3,934 |
| 15 years | $6,905 |
| 17 years | $9,876 |
| 19 years | $12,846 |
| 21 years | $15,817 |
| 23 years | $18,787 |
| 25 years | $21,758 |
Top Solar Installers in Parker
Although you can install solar panels by yourself, it takes extra energy and handiness. Because of that, the majority of homeowners choose to hire a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Parker, optimizing your ROI.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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 Parker
Factors that Affect Solar Panel Costs in Parker
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Parker: 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 solar panels in Parker, one of the most crucial 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 usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,720 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Parker average.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your total costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Parker is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that offer a range of services for different budgets. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $22,012 | 8.8 years |
| 8 kW | $2.77 | $15,537 | $29,654 | 8.6 years |
| 10 kW | $2.72 | $19,040 | $37,448 | 8.4 years |
| 12 kW | $2.67 | $22,391 | $45,395 | 8.3 years |
| 14 kW | $2.61 | $25,590 | $53,493 | 8.1 years |
| 16 kW | $2.56 | $28,636 | $61,745 | 7.9 years |
| 18 kW | $2.50 | $31,530 | $70,148 | 7.8 years |
| 20 kW | $2.45 | $34,272 | $78,704 | 7.6 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Parker, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
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 Parker, SC Solar Cost FAQs
What is the average cost of installing solar panels in Parker?
The average cost of solar panels in Parker 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 things like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Parker?
You can't get solar panels for free in Parker. 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 rather 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 the value of your property by about 4%, according to research done by Zillow. The average home value in Parker is currently $114,605, which means you can expect a value of about $4,699 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Parker is a worthwhile investment.
How long do solar panels last in Parker?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.