Solar Panel Cost Guide in Wade Hampton, SC (Sep 2022)

  • Wade Hampton Solar Installation Cost: $15,365
  • 25-Year Savings: $28,458
  • Payback Period: 8.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Wade Hampton

Find out how much it might cost to install solar panels in Wade Hampton.

The average cost of a solar system in Wade Hampton is $3 per watt. The average Wade Hampton homeowner needs a 8.1-kilowatt system, which would cost about $15,365, or $11,370 after the federal solar tax credit of 30% is applied.

Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar panels you choose, your solar contractor and more. Many homeowners find installing a solar panel system is a sound investment. The average homeowner in Wade Hampton can save around $21,000 on their energy bills over 20 years.

To get a free quote from a vetted solar company in Wade Hampton, you can click the button below.

Solar savings over time in Wade Hampton

Year Return on Investment
1 years $-13,612
3 years $-10,106
5 years $-6,601
7 years $-3,095
9 years $411
11 years $3,917
13 years $7,423
15 years $10,929
17 years $14,435
19 years $17,941
21 years $21,446
23 years $24,952
25 years $28,458

Top Solar Installers in Wade Hampton

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make your swap to solar power much easier. A solar installer can also help save you money in the long run by providing warranties, repairs and component replacements.

If you're searching for a solar installer in Wade Hampton, we've organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Wade Hampton

Factors that Affect Solar Panel Costs in Wade Hampton

Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Wade Hampton: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.

Solar Equipment Size

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,720 per kilowatt in Wade Hampton. The type of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to think about 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 falls within your budget.

Solar Financing Terms

If paying for solar panels out of pocket is out of reach, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. While solar loans make switching to solar energy more accessible for Wade Hampton homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar installation company you choose will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Wade Hampton know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $20,683 9.1 years
8 kW $2.77 $15,537 $27,882 8.9 years
10 kW $2.72 $19,040 $35,233 8.8 years
12 kW $2.67 $22,391 $42,737 8.6 years
14 kW $2.61 $25,590 $50,393 8.4 years
16 kW $2.56 $28,636 $58,201 8.2 years
18 kW $2.50 $31,530 $66,161 8.1 years
20 kW $2.45 $34,272 $74,274 7.9 years

Solar Incentives in Wade Hampton

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Renewable Energy and Energy Storage Property Tax Exemption
Incentive Amount 100% exemption
Website Visit here
More Info Click here

Name Solar Energy, Small Hydropower, and Geothermal Tax Credit (Corporate)
Incentive Amount 25% of eligible costs
Incentive Max In any given tax year, $3,500, or 50% of taxpayer's tax liability for that taxable year, whichever is less. If the amount of the credit exceeds $3,500 for each facility, the taxpayer may carry forward the excess for up to ten years.
Website Visit here
More Info Click here

Name Santee Cooper - Rooftop Solar Rebate Program
Incentive Amount Residential and Commercial: $1.05/W
Non-Profit: $1.30/W
Incentive Max Residential and Commercial: $6,300
Non-Profit: $7,800
Website Visit here
More Info Click here

Name Solar Energy, Small Hydropower, and Geothermal Tax Credit (Personal)
Incentive Amount 25% of eligible costs
Incentive Max In any given tax year a maximum of $3,500, or 50% of taxpayer's tax liability for that taxable year, whichever is less. If the amount of the credit exceeds $3,500 for each facility, the taxpayer may carry forward the excess for up to ten years.
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a large number of companies to choose from in Wade Hampton, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
  • Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
  • Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Wade Hampton, SC Solar Cost FAQs

What is the average cost of installing solar panels in Wade Hampton?

This is a difficult question to answer precisely, because the cost depends on a variety of 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 other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Wade Hampton?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 bang for your buck from going solar.

Can you sell solar power back to the grid in Wade Hampton?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.

How long do solar panels last in Wade Hampton?

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.

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