Solar Panel Cost Guide in Florence, SC (2024 Update)
- Florence Solar Installation Cost: $19,241
- 25-Year Savings: $28,605
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Florence
Find out what the average cost of a solar system is in Florence.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Florence, the average cost of solar panels is 3 per watt.The average solar panel system size in Florence is around 8.0 kilowatts, meaning a cost of about $19,241 for a solar installation, or $27,515 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what installation company you go with.Despite the large upfront cost, the average Florence homeowner can save about $21,000 on their energy bills over 20 years, which is one of the benefits of solar.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-17,683 |
| 3 years | $-14,567 |
| 5 years | $-11,451 |
| 7 years | $-8,335 |
| 9 years | $-5,219 |
| 11 years | $-2,103 |
| 13 years | $1,013 |
| 15 years | $4,129 |
| 17 years | $7,245 |
| 19 years | $10,361 |
| 21 years | $13,477 |
| 23 years | $16,593 |
| 25 years | $19,709 |
Top Solar Installers in Florence
Although you can install solar panels on your own, it involves extra energy and handiness. Because of that, most people choose to go with a solar panel installer. Another advantage of going with a solar company is that they can help you optimize your investment by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Florence
Factors that Affect Solar Panel Costs in Florence
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Florence: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
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 power your household uses, the larger your system will likely need to be. You can expect to spend about $3,450 per kilowatt in Florence.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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. Additionally, extra products, such as solar batteries, can bump up your total well above the Florence average.
Solar Financing Terms
Most solar installers in Florence offer solar loans, which reduce your upfront costs of installing a solar system.Though solar loans make switching to solar energy more accessible for Florence homeowners, they can also add to the total you pay for your system, depending on your interest rate. 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 pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $17,895 | 11.4 years |
| 8 kW | $3.52 | $19,706 | $24,247 | 11.2 years |
| 10 kW | $3.45 | $24,150 | $30,792 | 11.0 years |
| 12 kW | $3.38 | $28,400 | $37,530 | 10.8 years |
| 14 kW | $3.31 | $32,458 | $44,461 | 10.5 years |
| 16 kW | $3.24 | $36,322 | $51,585 | 10.3 years |
| 18 kW | $3.17 | $39,992 | $58,902 | 10.1 years |
| 20 kW | $3.11 | $43,470 | $66,413 | 9.9 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: When making the switch to solar, it’s necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Florence, SC Solar Cost FAQs
How much does it cost to install solar panels in Florence?
This is a tough question to answer exactly, 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Florence?
You can’t get solar panels for free in Florence. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 buy between 20 and 35 panels to account for 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.