Solar Panel Cost Guide in Red Hill, SC (2023 Update)
- Red Hill Solar Installation Cost: $14,604
- 25-Year Savings: $31,562
- Payback Period: 7.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Red Hill
Let's have a look at the average cost of solar panels in Red Hill.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Red Hill, the average cost of a solar system is 2.72 per watt. Using this figure, a typical 7.7-kW system would cost about $14,604 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Red Hill based on several factors, such as the kind of solar panels you choose and the solar company you hire. Even with the large upfront cost, the average Red Hill homeowner can save about $23,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar company in your area for a customized estimate.
Solar savings over time in Red Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-12,757 |
| 3 years | $-9,064 |
| 5 years | $-5,370 |
| 7 years | $-1,677 |
| 9 years | $2,016 |
| 11 years | $5,709 |
| 13 years | $9,403 |
| 15 years | $13,096 |
| 17 years | $16,789 |
| 19 years | $20,482 |
| 21 years | $24,176 |
| 23 years | $27,869 |
| 25 years | $31,562 |
Top Solar Installers in Red Hill
Trying to install solar panels by yourself can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Red Hill
Factors that Affect Solar Panel Costs in Red Hill
Although the average cost of a solar system in Red Hill is $14,604, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar energy system in Red Hill, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by about $2,720 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Red Hill homeowners opt to finance their solar panel systems to offset upfront costs. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can impact how much it costs. Red Hill's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $24,230 | 8.2 years |
| 8 kW | $2.77 | $15,537 | $32,611 | 8.1 years |
| 10 kW | $2.72 | $19,040 | $41,144 | 7.9 years |
| 12 kW | $2.67 | $22,391 | $49,830 | 7.8 years |
| 14 kW | $2.61 | $25,590 | $58,668 | 7.6 years |
| 16 kW | $2.56 | $28,636 | $67,658 | 7.4 years |
| 18 kW | $2.50 | $31,530 | $76,801 | 7.3 years |
| 20 kW | $2.45 | $34,272 | $86,096 | 7.1 years |
How to Save on Solar Panels
There are many companies available in Red Hill, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide good-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
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Red Hill, SC Solar Cost FAQs
How much does it cost to install solar panels in Red Hill?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally 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 higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Red Hill?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,203.68 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.