Solar Panel Cost Guide in Lake Wylie, SC (2024 Update)

  • Lake Wylie Solar Installation Cost: $19,570
  • 25-Year Savings: $23,911
  • Payback Period: 12.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lake Wylie

Let’s take a look at the average cost of solar panels in Lake Wylie.

In Lake Wylie, solar panels cost about 3 per watt on average.To cover the typical energy usage of the average home in Lake Wylie, most homeowners require a 8.1-kilowatt system. Using the figure above, a solar installation costs about $19,570, or $27,985 before the federal solar tax credit of 0 is applied.

These figures are only averages, and your own solar costs will most likely look different based on your energy needs and what company you want to go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Lake Wylie can save about $18,000 on their energy bills over 20 years.

Click the button below to get connected to a reputable solar company in your area for a customized estimate.

Solar savings over time in Lake Wylie

Year Return on Investment
1 years $-18,085
3 years $-15,114
5 years $-12,144
7 years $-9,173
9 years $-6,203
11 years $-3,232
13 years $-261
15 years $2,709
17 years $5,680
19 years $8,650
21 years $11,621
23 years $14,591
25 years $17,562

Top Solar Installers in Lake Wylie

Although you can install solar panels on your own, it takes extra effort and expertise. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.

If you’d like to start using solar energy but still aren’t sure which solar system installer to go with, here are our recommendations for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Lake Wylie

Factors that Affect Solar Panel Costs in Lake Wylie

The cost of installing a solar system in Lake Wylie can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,450. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Lake Wylie, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Lake Wylie to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

A final factor to consider when trying to evaluate the cost of solar for your home or business in Lake Wylie is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets.Additionally, some companies in Lake Wylie have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $14,059 12.9 years
8 kW $3.52 $19,706 $19,131 12.7 years
10 kW $3.45 $24,150 $24,397 12.4 years
12 kW $3.38 $28,400 $29,856 12.2 years
14 kW $3.31 $32,458 $35,508 11.9 years
16 kW $3.24 $36,322 $41,354 11.7 years
18 kW $3.17 $39,992 $47,392 11.4 years
20 kW $3.11 $43,470 $53,624 11.2 years

How to Save on Solar Panels

Since the model of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
  • Warranty: If you care about the endurance of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
  • Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
  • Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the completion timeline.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Lake Wylie, SC Solar Cost FAQs

How much does it cost to install solar panels in Lake Wylie?

This is a difficult 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 other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

What other factors should I consider aside from cost when buying solar panels?

The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

How much can I save on energy bills after switching to solar?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Lake Wylie, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is 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 higher amount 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.

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