Solar Panel Cost Guide in Woodruff, SC (2024 Update)
- Woodruff Solar Installation Cost: $19,511
- 25-Year Savings: $30,048
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Woodruff
See how much it might cost to switch to solar power in Woodruff.
The average cost of a solar system in Woodruff is 3 per watt.The average solar panel system size in Woodruff is around 8.1 kilowatts, meaning a cost of about $19,511 for a solar installation, or $27,901 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary based on several factors, such as what size system you need, your energy usage and what solar installer you go with.But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $21,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar installer in Woodruff for a custom estimate.
Solar savings over time in Woodruff
| Year | Return on Investment |
|---|---|
| 1 years | $-18,026 |
| 3 years | $-15,055 |
| 5 years | $-12,084 |
| 7 years | $-9,114 |
| 9 years | $-6,143 |
| 11 years | $-3,173 |
| 13 years | $-202 |
| 15 years | $2,768 |
| 17 years | $5,739 |
| 19 years | $8,709 |
| 21 years | $11,680 |
| 23 years | $14,650 |
| 25 years | $17,621 |
Top Solar Installers in Woodruff
Although you can install solar panels by yourself, it involves extra energy and expertise. Because of that, most people choose to hire a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are several licensed solar professionals that can install solar panels for you. 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 Woodruff
Factors that Affect Solar Panel Costs in Woodruff
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Woodruff: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Woodruff, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,450 for each additional kilowatt you need.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Woodruff homeowners decide to finance their solar panel systems to offset upfront costs.Even though solar loans make going solar more accessible for Woodruff homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect your pricing. Woodruff’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Woodruff are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $18,670 | 11.2 years |
| 8 kW | $3.52 | $19,706 | $25,279 | 11.0 years |
| 10 kW | $3.45 | $24,150 | $32,082 | 10.7 years |
| 12 kW | $3.38 | $28,400 | $39,078 | 10.5 years |
| 14 kW | $3.31 | $32,458 | $46,267 | 10.3 years |
| 16 kW | $3.24 | $36,322 | $53,650 | 10.1 years |
| 18 kW | $3.17 | $39,992 | $61,225 | 9.9 years |
| 20 kW | $3.11 | $43,470 | $68,994 | 9.7 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Solar Panel Brands: Different companies offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Woodruff, SC Solar Cost FAQs
What is the average cost of installing solar panels in Woodruff?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,124.64 per year.
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 how much 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 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.