Solar Panel Cost Guide in Wade Hampton, SC (2023 Update)
- Wade Hampton Solar Installation Cost: $15,365
- 25-Year Savings: $28,458
- Payback Period: 8.8 Years
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Updated March 14, 2023
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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 panel system in Wade Hampton is 2.72 per watt. The average Wade Hampton homeowner needs a 8.1-kilowatt system, which would cost about $15,365 with the federal tax credit, or $21,972 before the 30% tax credit is applied.
These figures are just averages, and how much solar costs for you may differ based on your energy needs and what company you choose to go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Wade Hampton can save around $21,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar expert, 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
Many homeowners choose to use a solar installer since trying to install solar panels by yourself can be hard. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.
If you'd like to switch to solar energy but still aren't certain which solar panel installer to go with, here are our recommendations for providers nearby:
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 Wade Hampton
Factors that Affect Solar Panel Costs in Wade Hampton
Even though the average cost of a solar system in Wade Hampton is $15,365, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Wade Hampton, 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 consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $2,720 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Wade Hampton average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over five to seven years on average. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Wade Hampton, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk 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 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 | $20,683 | 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 |
How to Save on Solar Panels
There are a lot of companies available in Wade Hampton, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The type of solar panel you want to install plays a role in which company you should opt for, since different companies have different panels.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Wade Hampton, SC Solar Cost FAQs
What is the average cost of installing solar panels in Wade Hampton?
This is a hard 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Wade Hampton?
Solar panels aren't free in Wade Hampton, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact my home value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Wade Hampton?
On average, solar panels can last 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.