Solar Panel Cost Guide in Golden Grove, SC (2024 Update)
- Golden Grove Solar Installation Cost: $19,500
- 25-Year Savings: $30,238
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Golden Grove
Let’s have a look at the average cost of solar in Golden Grove.
Although the national average of solar panels is $2.66 per watt, solar panels in Golden Grove typically cost about 3.To cover the typical energy needs of the average home in Golden Grove, most homeowners require a 8.1-kilowatt system. Using the figure above, a solar installation costs around $19,500, or $27,885 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $21,000 over 20 years on electricity bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Golden Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-18,015 |
| 3 years | $-15,044 |
| 5 years | $-12,074 |
| 7 years | $-9,103 |
| 9 years | $-6,133 |
| 11 years | $-3,162 |
| 13 years | $-192 |
| 15 years | $2,779 |
| 17 years | $5,749 |
| 19 years | $8,720 |
| 21 years | $11,691 |
| 23 years | $14,661 |
| 25 years | $17,632 |
Top Solar Installers in Golden Grove
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make switching to solar power much easier. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Golden Grove
Factors that Affect Solar Panel Costs in Golden Grove
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Golden Grove: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,450.The kind of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment goes beyond 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 into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Golden Grove to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Golden Grove is the company you hire to install your PV system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $18,823 | 11.1 years |
| 8 kW | $3.52 | $19,706 | $25,484 | 10.9 years |
| 10 kW | $3.45 | $24,150 | $32,338 | 10.7 years |
| 12 kW | $3.38 | $28,400 | $39,385 | 10.5 years |
| 14 kW | $3.31 | $32,458 | $46,626 | 10.3 years |
| 16 kW | $3.24 | $36,322 | $54,059 | 10.0 years |
| 18 kW | $3.17 | $39,992 | $61,686 | 9.8 years |
| 20 kW | $3.11 | $43,470 | $69,506 | 9.6 years |
How to Save on Solar Panels
There are a large number of companies available in Golden Grove, 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:
- Contract: Even though 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.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: If you’re worried about the endurance of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
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 Golden Grove, SC Solar Cost FAQs
How much does it cost to install solar panels in Golden Grove?
This is a difficult 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-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.
Can you get solar panels for free in Golden Grove?
A solar panel system isn’t free in Golden Grove, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Golden Grove?
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 utility bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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 install between 20 and 35 panels to cover 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.