Solar Panel Cost Guide in Travelers Rest, SC (Mar 2023)
- Travelers Rest Solar Installation Cost: $15,365
- 25-Year Savings: $27,266
- Payback Period: 9.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Travelers Rest
We break down average solar pricing in Travelers Rest.
In Travelers Rest, solar panels cost about 2.72 per watt on average. Using this figure, a typical 8.1-kW system would cost about $15,365 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely differ based on your energy needs and what company you go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $20,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar installer in Travelers Rest for a quote for your home.
Solar savings over time in Travelers Rest
| Year | Return on Investment |
|---|---|
| 1 years | $-13,660 |
| 3 years | $-10,250 |
| 5 years | $-6,839 |
| 7 years | $-3,429 |
| 9 years | $-18 |
| 11 years | $3,392 |
| 13 years | $6,803 |
| 15 years | $10,213 |
| 17 years | $13,624 |
| 19 years | $17,034 |
| 21 years | $20,445 |
| 23 years | $23,855 |
| 25 years | $27,266 |
Top Solar Installers in Travelers Rest
Trying to put up solar panels on your own can be a time-consuming project, which is why hiring a solar installer is a good option for many homeowners. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
If you're looking for a solar company in Travelers Rest, we've put together a list of our top suggestions here:
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 Travelers Rest
Factors that Affect Solar Panel Costs in Travelers Rest
There are many factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of a solar system in Travelers Rest, 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 energy bills. Your total cost can increase by around $2,720 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Travelers Rest, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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
Many homeowners find the average cost of solar in Travelers Rest to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. However, the interest on solar loans also increases your overall costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
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 Travelers Rest, you'll have many 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 major players.
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 | $19,797 | 9.4 years |
| 8 kW | $2.77 | $15,537 | $26,701 | 9.2 years |
| 10 kW | $2.72 | $19,040 | $33,756 | 9.0 years |
| 12 kW | $2.67 | $22,391 | $40,965 | 8.8 years |
| 14 kW | $2.61 | $25,590 | $48,325 | 8.7 years |
| 16 kW | $2.56 | $28,636 | $55,838 | 8.5 years |
| 18 kW | $2.50 | $31,530 | $63,503 | 8.3 years |
| 20 kW | $2.45 | $34,272 | $71,321 | 8.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly impacts 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:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
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 Travelers Rest, SC Solar Cost FAQs
What is the average cost of installing solar panels in Travelers Rest?
The average cost of solar panels in Travelers Rest is about $13,600 for a 5-kW system and $27,200 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.