Solar Panel Cost Guide in Parker, SC (2023 Update)
- Parker Solar Installation Cost: $15,365
- 25-Year Savings: $30,247
- Payback Period: 8.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Parker
See how much it might cost to make the switch to solar in Parker.
While the national average of solar panels is $2.66 per watt, solar panels in Parker generally cost about 2.72. Using this figure, a typical 8.1-kW system would cost about $15,365 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Parker based on several factors, such as the kind of solar panels you choose and the solar company you hire. With average savings of about $21,000 on utility bills over 20 years, many homeowners in Parker find going solar can be quite rewarding.
Click the button below to get connected to a top solar panel company in your area for a customized quote.
Solar savings over time in Parker
| Year | Return on Investment |
|---|---|
| 1 years | $-13,541 |
| 3 years | $-9,892 |
| 5 years | $-6,243 |
| 7 years | $-2,594 |
| 9 years | $1,055 |
| 11 years | $4,704 |
| 13 years | $8,353 |
| 15 years | $12,002 |
| 17 years | $15,651 |
| 19 years | $19,300 |
| 21 years | $22,949 |
| 23 years | $26,598 |
| 25 years | $30,247 |
Top Solar Installers in Parker
Although you can install solar panels yourself, it takes extra effort and know-how. Because of that, the majority of homeowners choose to hire a solar panel installer. Another upside of working with a solar company is that they can help you maximize your return of investment by cutting back on future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
Though the average cost of a solar system in Parker is $15,365, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,720 per kilowatt in Parker. There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to install 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Parker homeowners opt to finance their solar panel systems to make paying for solar more affordable. It's a good idea to factor 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Parker, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which company you should choose, since different companies have different panels.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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?
This is a difficult question to answer exactly, because the cost depends on a few different 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
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.