Solar Panel Cost Guide in Lancaster, SC (2024 Update)
- Lancaster Solar Installation Cost: $19,418
- 25-Year Savings: $29,205
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Lancaster
We break down average solar pricing in Lancaster.
The national average cost of solar panels is $2.66 per watt, but in Lancaster it’s 3 per watt.To account for the typical energy needs of the average home in Lancaster, most homeowners require a 8.0-kilowatt system. Using the figure above, a solar installation costs around $19,418, or $27,768 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with.Many homeowners find going solar is a sound investment. The average homeowner in Lancaster can save around $21,000 on their power bills over 20 years.
To get a free quote from a highly rated solar installer in Lancaster, you can click the button below.
Solar savings over time in Lancaster
| Year | Return on Investment |
|---|---|
| 1 years | $-17,933 |
| 3 years | $-14,962 |
| 5 years | $-11,992 |
| 7 years | $-9,021 |
| 9 years | $-6,050 |
| 11 years | $-3,080 |
| 13 years | $-109 |
| 15 years | $2,861 |
| 17 years | $5,832 |
| 19 years | $8,802 |
| 21 years | $11,773 |
| 23 years | $14,743 |
| 25 years | $17,714 |
Top Solar Installers in Lancaster
Many homeowners opt for a solar panel company since trying to put up solar panels yourself can be time-consuming. Another benefit of going with a solar company is that they can help you maximize your return of investment by reducing your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
If you’d like to make the switch to solar but still aren’t sure which solar panel installer to go with, here are our suggestions for providers in Lancaster:
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 Lancaster
Factors that Affect Solar Panel Costs in Lancaster
There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Lancaster, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.Even though solar loans make switching to solar energy more accessible for Lancaster homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can impact how much you pay. Lancaster’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $18,148 | 11.3 years |
| 8 kW | $3.52 | $19,706 | $24,583 | 11.1 years |
| 10 kW | $3.45 | $24,150 | $31,212 | 10.9 years |
| 12 kW | $3.38 | $28,400 | $38,034 | 10.7 years |
| 14 kW | $3.31 | $32,458 | $45,050 | 10.5 years |
| 16 kW | $3.24 | $36,322 | $52,258 | 10.3 years |
| 18 kW | $3.17 | $39,992 | $59,660 | 10.0 years |
| 20 kW | $3.11 | $43,470 | $67,255 | 9.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Look through the contract terms closely to make sure you understand the overall cost, project timeline rebates and warranties.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
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 Lancaster, SC Solar Cost FAQs
How much does it cost to install solar panels in Lancaster?
This is a hard question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or more efficient 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 less efficient solar panels.
Should I lease or buy solar panels in Lancaster?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Lancaster?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
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 how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.