Solar Panel Cost Guide in Tega Cay, SC (2023 Update)
- Tega Cay Solar Installation Cost: $15,422
- 25-Year Savings: $23,918
- Payback Period: 9.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Tega Cay
Let's take a look at the average cost of solar panels in Tega Cay.
The average cost of a solar system in Tega Cay is 2.72 per watt. Using this figure, a typical 8.1-kW system would cost about $15,422 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Tega Cay depending on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire. But, once you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar installer in Tega Cay for a quote for your home.
Solar savings over time in Tega Cay
| Year | Return on Investment |
|---|---|
| 1 years | $-13,849 |
| 3 years | $-10,702 |
| 5 years | $-7,554 |
| 7 years | $-4,407 |
| 9 years | $-1,260 |
| 11 years | $1,887 |
| 13 years | $5,035 |
| 15 years | $8,182 |
| 17 years | $11,329 |
| 19 years | $14,476 |
| 21 years | $17,623 |
| 23 years | $20,771 |
| 25 years | $23,918 |
Top Solar Installers in Tega Cay
Putting up solar panels on your own can be a time-consuming task, which is why getting a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
There are various 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 Tega Cay
Factors that Affect Solar Panel Costs in Tega Cay
The cost of installing a solar system in Tega Cay can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $2,720 per kilowatt in Tega Cay. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Tega Cay, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system 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. 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Tega Cay is the company you choose to install your PV system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Tega Cay have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $17,247 | 10.2 years |
| 8 kW | $2.77 | $15,537 | $23,301 | 10.0 years |
| 10 kW | $2.72 | $19,040 | $29,507 | 9.8 years |
| 12 kW | $2.67 | $22,391 | $35,865 | 9.6 years |
| 14 kW | $2.61 | $25,590 | $42,376 | 9.4 years |
| 16 kW | $2.56 | $28,636 | $49,039 | 9.2 years |
| 18 kW | $2.50 | $31,530 | $55,854 | 9.0 years |
| 20 kW | $2.45 | $34,272 | $62,822 | 8.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: The brand of solar panel you'd like to install plays a part in which installer you should go with, since different companies have access to different panels.
- Warranty: If you're worried about the longevity of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Tega Cay, SC Solar Cost FAQs
What is the average cost of installing solar panels in Tega Cay?
This is a difficult question to answer precisely, 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Tega Cay, 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.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.