Solar Panel Cost Guide in Woodfield, SC (2024 Update)
- Woodfield Solar Installation Cost: $19,102
- 25-Year Savings: $31,584
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Woodfield
Find out what the average cost of solar panel installation is in Woodfield.
The average cost of a solar system in Woodfield is 3 per watt.The average Woodfield homeowner needs a 7.9-kilowatt system, which would cost about $19,102 with the federal tax credit, or $27,316 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of equipment you want to get, your solar contractor and more.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $24,000 over 20 years on power bills.
You can click the button below to get connected with a top solar installer in Woodfield that can help you get a more accurate cost estimate for your home.
Solar savings over time in Woodfield
| Year | Return on Investment |
|---|---|
| 1 years | $-17,362 |
| 3 years | $-13,881 |
| 5 years | $-10,400 |
| 7 years | $-6,919 |
| 9 years | $-3,439 |
| 11 years | $42 |
| 13 years | $3,523 |
| 15 years | $7,004 |
| 17 years | $10,485 |
| 19 years | $13,965 |
| 21 years | $17,446 |
| 23 years | $20,927 |
| 25 years | $24,408 |
Top Solar Installers in Woodfield
Although it's possible to install solar panels by yourself, it takes extra effort and expertise. Because of that, the majority of homeowners choose to hire a solar panel installer. Another upside of using a solar installer is that they can help you optimize your return of investment by lowering your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
If you’d like to start using solar energy but still aren’t sure which solar panel company to go with, here are our recommendations for providers near you:
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 Woodfield
Factors that Affect Solar Panel Costs in Woodfield
There are several criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,450. The type of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions 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 looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Woodfield homeowners decide to finance their solar panel systems to make paying for solar more affordable.While solar loans make going solar more accessible for Woodfield homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Woodfield are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $3.59 | $15,070 | $20,312 | 10.6 years |
| 8 kW | $3.52 | $19,706 | $27,469 | 10.4 years |
| 10 kW | $3.45 | $24,150 | $34,820 | 10.2 years |
| 12 kW | $3.38 | $28,400 | $42,363 | 10.0 years |
| 14 kW | $3.31 | $32,458 | $50,100 | 9.8 years |
| 16 kW | $3.24 | $36,322 | $58,030 | 9.6 years |
| 18 kW | $3.17 | $39,992 | $66,153 | 9.4 years |
| 20 kW | $3.11 | $43,470 | $74,470 | 9.2 years |
How to Save on Solar Panels
There are many companies to choose from in Woodfield, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: The kind of solar panel you want plays a part in which company you should choose, since different companies provide different panels.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Woodfield, SC Solar Cost FAQs
What is the average cost of installing solar panels in Woodfield?
The average cost of solar panels in Woodfield is about $17,250 for a 5-kW system and $34,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Woodfield?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.