Solar Panel Cost Guide in Myrtle Beach, SC (2025 Update)
- Myrtle Beach Solar Installation Cost: $18,525
- 25-Year Savings: $30,192
- Payback Period: 10.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Myrtle Beach
Find out what the average cost of solar panels are in Myrtle Beach.
In Myrtle Beach, solar panels cost about 3 per watt on average.The average Myrtle Beach homeowner needs a 7.7-kilowatt system, which would cost about $18,525 with the federal tax credit, or $26,491 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Myrtle Beach homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the high upfront cost, the average Myrtle Beach homeowner can save about $22,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Myrtle Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-16,844 |
| 3 years | $-13,481 |
| 5 years | $-10,119 |
| 7 years | $-6,757 |
| 9 years | $-3,394 |
| 11 years | $-32 |
| 13 years | $3,330 |
| 15 years | $6,693 |
| 17 years | $10,055 |
| 19 years | $13,417 |
| 21 years | $16,779 |
| 23 years | $20,142 |
| 25 years | $23,504 |
Top Solar Installers in Myrtle Beach
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar panel installer can make converting to solar power much easier. Another advantage of utilizing a solar company is that they can help you maximize your ROI by cutting back on 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 make the switch to solar but still aren’t sure which solar company to go with, here are our recommendations for providers near you:
See all of the solar companies in Myrtle Beach
Factors that Affect Solar Panel Costs in Myrtle Beach
Even though the average cost of a solar system in Myrtle Beach is $18,525, your actual cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The solar equipment you choose can increase or decrease your cost 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, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Myrtle Beach average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over five to seven years on average.Even though solar loans make switching to solar energy more accessible for Myrtle Beach homeowners, they can also increase 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 opt for to install your solar system can influence your pricing. Myrtle Beach’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Myrtle Beach are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $19,970 | 10.8 years |
| 8 kW | $3.52 | $19,706 | $27,014 | 10.5 years |
| 10 kW | $3.45 | $24,150 | $34,250 | 10.3 years |
| 12 kW | $3.38 | $28,400 | $41,680 | 10.1 years |
| 14 kW | $3.31 | $32,458 | $49,302 | 9.9 years |
| 16 kW | $3.24 | $36,322 | $57,118 | 9.7 years |
| 18 kW | $3.17 | $39,992 | $65,128 | 9.5 years |
| 20 kW | $3.11 | $43,470 | $73,330 | 9.3 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
EcoWatch's Myrtle Beach, SC Solar Cost FAQs
How much does it cost to install solar panels in Myrtle Beach?
The average cost of solar panels in Myrtle Beach 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Myrtle Beach have a net metering program?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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 buy 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.