Solar Panel Cost Guide in Ridgeland, SC (2024 Update)
- Ridgeland Solar Installation Cost: $17,991
- 25-Year Savings: $29,436
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Ridgeland
Here’s how much it might cost to go solar in Ridgeland.
The national average cost of solar panels is $2.66 per watt, but in Ridgeland it’s 3 per watt.Using this figure, a typical 7.4-kW system would cost about $17,991 before the 0 federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you will most likely look different based on the amount of energy your home requires and what company you want to go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $23,000 over 20 years on power bills.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized estimate.
Solar savings over time in Ridgeland
| Year | Return on Investment |
|---|---|
| 1 years | $-16,251 |
| 3 years | $-12,770 |
| 5 years | $-9,289 |
| 7 years | $-5,808 |
| 9 years | $-2,327 |
| 11 years | $1,153 |
| 13 years | $4,634 |
| 15 years | $8,115 |
| 17 years | $11,596 |
| 19 years | $15,077 |
| 21 years | $18,557 |
| 23 years | $22,038 |
| 25 years | $25,519 |
Top Solar Installers in Ridgeland
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make your switch to solar power much easier. Another advantage of working with a solar company is that they can help you make the most of your ROI by reducing your future costs of repairs and replacements due to warranties and informing you of 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 National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Ridgeland
Factors that Affect Solar Panel Costs in Ridgeland
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 Ridgeland: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Ridgeland, 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 determine by looking at past electricity bills. Your overall cost can increase by around $3,450 for each additional kilowatt you need.The kind of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond 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’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your total costs, so it’s vital to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Ridgeland is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for example, you’ll have many options for solar installers that offer a range of services at different price points.The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater 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 discount can bring their pricing lower to compete with bigger names.
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 | $20,062 | 10.7 years |
| 8 kW | $3.52 | $19,706 | $27,136 | 10.5 years |
| 10 kW | $3.45 | $24,150 | $34,403 | 10.3 years |
| 12 kW | $3.38 | $28,400 | $41,863 | 10.1 years |
| 14 kW | $3.31 | $32,458 | $49,516 | 9.9 years |
| 16 kW | $3.24 | $36,322 | $57,363 | 9.7 years |
| 18 kW | $3.17 | $39,992 | $65,403 | 9.5 years |
| 20 kW | $3.11 | $43,470 | $73,636 | 9.3 years |
How to Save on Solar Panels
There are many companies to choose from in Ridgeland, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project timeline.
- Solar Panel Brands: The model of solar panel you need to get plays a role in which installer you should choose, since different companies offer different panels.
- Warranty: If you care about the durability of your solar energy system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Even though 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 the terms of the warranty.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Ridgeland, SC Solar Cost FAQs
How much does it cost to install solar panels in Ridgeland?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,250 for a 5-kW system and $34,500 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Ridgeland, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 level 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.