Solar Panel Cost Guide in Walterboro, SC (2024 Update)
- Walterboro Solar Installation Cost: $18,467
- 25-Year Savings: $35,241
- Payback Period: 9.3 Years
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Average Cost of Solar Panels in Walterboro
See how much it might cost to go solar in Walterboro.
The average cost of a solar system in Walterboro is 3 per watt.To account for the typical energy needs of the average home in Walterboro, most homeowners require a 7.6-kilowatt system. Using the figure above, a solar installation costs about $18,467, or $26,408 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Walterboro homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Even with the high initial cost, the average Walterboro homeowner can save around $26,000 on their power bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Walterboro
| Year | Return on Investment |
|---|---|
| 1 years | $-16,726 |
| 3 years | $-13,245 |
| 5 years | $-9,765 |
| 7 years | $-6,284 |
| 9 years | $-2,803 |
| 11 years | $678 |
| 13 years | $4,159 |
| 15 years | $7,640 |
| 17 years | $11,120 |
| 19 years | $14,601 |
| 21 years | $18,082 |
| 23 years | $21,563 |
| 25 years | $25,044 |
Top Solar Installers in Walterboro
Installing solar panels by yourself can be a stressful project, which is why using a solar installation company is a good option for many homeowners. The payback period on a solar system will vary depending on factors like your location and energy consumption, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Walterboro
Factors that Affect Solar Panel Costs in Walterboro
Though the average cost of a solar system in Walterboro is $18,467, your final cost may differ. 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
One of the most significant 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay around $3,450 per kilowatt in Walterboro.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Walterboro average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Walterboro homeowners opt to finance their solar panel systems to offset upfront costs.Although solar loans make adopting solar energy more accessible for Walterboro homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Walterboro, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $3.59 | $15,070 | $24,007 | 9.6 years |
| 8 kW | $3.52 | $19,706 | $32,395 | 9.5 years |
| 10 kW | $3.45 | $24,150 | $40,977 | 9.3 years |
| 12 kW | $3.38 | $28,400 | $49,752 | 9.1 years |
| 14 kW | $3.31 | $32,458 | $58,720 | 8.9 years |
| 16 kW | $3.24 | $36,322 | $67,882 | 8.7 years |
| 18 kW | $3.17 | $39,992 | $77,236 | 8.5 years |
| 20 kW | $3.11 | $43,470 | $86,784 | 8.3 years |
How to Save on Solar Panels
The solar company you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Contract: When reading through your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Walterboro, SC Solar Cost FAQs
What is the average cost of installing solar panels in Walterboro?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $17,250 for a 5-kW system and $34,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Walterboro?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Is making the switch to solar worth it?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Walterboro?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.