Solar Panel Cost Guide in Southern Shops, SC (2023 Update)
- Southern Shops Solar Installation Cost: $15,382
- 25-Year Savings: $28,443
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Southern Shops
We break down average solar pricing in Southern Shops.
The average cost of a solar panel system in Southern Shops is 2.72 per watt. The average solar panel system size in Southern Shops is around 8.1 kilowatts, meaning a cost of about $15,384 for a solar installation, or $21,999 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Southern Shops homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Southern Shops find installing solar panels can be quite rewarding.
You can click the button below to get connected with a vetted solar company in Southern Shops that can help you get a more accurate cost estimate for your home.
Solar savings over time in Southern Shops
| Year | Return on Investment |
|---|---|
| 1 years | $-13,897 |
| 3 years | $-10,927 |
| 5 years | $-7,956 |
| 7 years | $-4,986 |
| 9 years | $-2,015 |
| 11 years | $956 |
| 13 years | $3,926 |
| 15 years | $6,897 |
| 17 years | $9,867 |
| 19 years | $12,838 |
| 21 years | $15,808 |
| 23 years | $18,779 |
| 25 years | $21,749 |
Top Solar Installers in Southern Shops
When making the switch to solar, many homeowners opt to use a solar company since overseeing your solar installation yourself can be a difficult project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't certain which solar panel company to go with, here are our suggestions for providers in Southern Shops:
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 Southern Shops
Factors that Affect Solar Panel Costs in Southern Shops
For many Southern Shops homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Southern Shops, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,720. The model of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to decide on 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's in your budget.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total 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 securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Southern Shops, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $20,666 | 9.1 years |
| 8 kW | $2.77 | $15,537 | $27,860 | 9.0 years |
| 10 kW | $2.72 | $19,040 | $35,205 | 8.8 years |
| 12 kW | $2.67 | $22,391 | $42,704 | 8.6 years |
| 14 kW | $2.61 | $25,590 | $50,354 | 8.4 years |
| 16 kW | $2.56 | $28,636 | $58,157 | 8.2 years |
| 18 kW | $2.50 | $31,530 | $66,112 | 8.1 years |
| 20 kW | $2.45 | $34,272 | $74,219 | 7.9 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- 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.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Southern Shops, SC Solar Cost FAQs
How much does it cost to install solar panels in Southern Shops?
The average cost of solar panels in Southern Shops 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 stuff like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $1,084.91 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.