Cost For Solar Panel Installation Sc

A solar payback period is the amount of time it takes for property owners who install solar panels to recover their initial investment through electricity savings.

Cost for solar panel installation sc.

As of september 2020 the average solar panel cost in south carolina is 3 14 w. Given a solar panel system size of 5 kilowatts kw an average solar installation in south carolina ranges in cost from 13 345 to 18 055 with the average gross price for solar in south carolina coming in at 15 700. Solar panel cost data south carolina 2020 updated. South carolinians with sufficient tax liability can take advantage of federal and state tax credits for the purchase and installation of a solar electric system to reduce the cost.

The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. How long does it take to earn back your initial investment in solar panels. Solar electric systems cost on average 3 to 5 per watt installed but new technologies are bringing the costs down every year. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

This is higher than the average price of residential solar power systems across the united states which is currently 2 60. In south carolina the average solar payback period is 7 94 years. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. On a cost per watt w basis a solar panel installation in south carolina ranges in price from 2 67 to 3 61.