Introduction
South Carolina has seen tremendous growth in solar energy over the past 5 years. As of 2022, the state has over 2,800 megawatts (MW) of solar installed, up from less than 200 MW in 2017. This rapid growth is being fueled by falling solar costs and South Carolina‘s abundant sunlight. For homeowners, going solar can lead to significant long-term savings on electricity bills.
In this comprehensive guide, we analyze all the key figures related to residential solar panel installations in South Carolina. Whether you‘re just starting your research or ready to go solar, understanding these metrics is crucial for making the decision.
Average Cost of Solar Panels in South Carolina
Solar panel costs have declined substantially, making systems more affordable across the U.S. South Carolina is no exception. Today, the average solar panel cost per watt in the state is $2.35. This is slightly below the national average of $2.50 to $3.50 per watt.
For a typical 5 kilowatt (5,000 watt) residential system, South Carolinians are paying around $11,750 before incentives. For larger installs between 6-10 kilowatts, which can offset most or all of a home‘s electricity use, total pre-incentive costs range from $14,100 to $23,500.
Ultimately system size, equipment, and installation costs cause pricing to vary. But for most homes, solar panels in South Carolina cost between $2.90 and $3.30 per watt including all expenses. This makes the state a relatively affordable solar market.
Federal and State Incentives Reduce Solar Costs
The out-of-pocket cost for solar panels drops even lower when accounting for incentives. South Carolina homeowners can take advantage of:
Federal Solar Tax Credit – Covers 30% of total system cost. For a 5 kW installation costing $11,750 pre-incentive, this credit would reduce the final cost by $3,525.
South Carolina Solar Tax Credit – Covers 25% up to $3,500. Can be combined with federal credit to save $7,000 or more.
Between these two, residents can slash nearly 50% off their solar panel system cost. And some utilities like Dominion Energy even offer rebates to further offset the price.
Electricity Bill Savings with Solar in South Carolina
The main motivation for most homeowners to install solar panels is the long-term savings on electric bills. South Carolina‘s average electricity rate is 13.29 cents per kWh, higher than most states. This means higher bills, but also more opportunity for bill reduction with solar.
Over the 25+ year lifespan of a solar system, South Carolinians can expect total lifetime savings between $23,000 to $40,000 depending on array size. For a 6 kW system that offsets most or all of a home‘s electricity usage, total savings add up to $32,500.
This factors in the 30% system cost reduction from claiming the federal tax credit. After incentives, a 6 kW solar array would take about 7 years to pay off with accumulated electricity savings. Then 17+ years of pure utility bill savings follow.
Top Solar Installers in South Carolina
Finding a reputable local installer is key to getting excellent service and long-lasting solar panels on your home. When comparing companies, check their experience, warranties, certifications, customer service reputation and whether they use high-quality equipment.
Based on these criteria, here are two of the best solar power companies in South Carolina:
SunPower by Sigora Solar: Sigora is a SunPower Master Dealer, giving them access to the industry‘s highest efficiency panels. 25-year warranty on panels and 10-years on installation. Over 1,900 South Carolina projects completed.
Southern Current: One of the largest installers in SC with over 19,000 customers across southern states. Uses premium equipment like Q CELLS panels and SolarEdge power optimizers for maximum energy production.
Both Sigora and Southern Current have been recognized with awards and honors for outstanding customer satisfaction. They handle the full process in-house, from consultation to design to permitting and installation.
Key Takeaways on South Carolina Solar Panels
Installing solar in South Carolina can yield over $30,000 in energy bill savings over the system lifetime. With federal and state tax credits slashing 50% or more off solar costs, return on investment takes less than 8 years for a properly-sized system.
Use this summary table as a quick reference to all the key stats covered:
| Average Solar Cost per Watt | $2.35 |
| Avg. System Cost (after incentives) | $5,875 (5 kW) to $11,750 (10 kW) |
| Est. Lifetime Electricity Savings | $23,000 to $40,000 |
| Years to Pay Off System | 6 to 8 years |
| Top Rated Installers | Sigora Solar, Southern Current |
Ready to go solar? Reach out to our top recommended installers for a free consultation and system quote.
Frequently Asked Questions
How much do solar panels cost in South Carolina?
The average solar panel cost per watt is $2.35 in South Carolina. For a typical 5,000 watt (5kW) system, that equates to around $11,750 pre-incentive. Total costs are reduced to $5,875 (5 kW system) or $11,750 (10 kW system) on average after claiming the federal and state tax credits.
Will solar panels work with South Carolina‘s weather?
Absolutely. South Carolina averages 4-6 peak sunlight hours per day depending on location. This is on par with states like California and Arizona that lead the country in solar adoption. With the state‘s mild climate and limited extreme weather events, solar panels can reliably generate clean power year-round.
How long does it take for solar panels to pay themselves off?
Factoring in federal and state incentives that cover nearly 50% of the system cost, solar panels in SC take 6-8 years on average to pay off. After that breakeven point, the panels provide pure electricity savings for 17+ more years given their 25+ year lifespan.
What do I need to install solar in South Carolina?
You‘ll need adequate unshaded south-facing roof space for panel placement. Beyond that, work with one of our recommended top installers to have them fully assess your home‘s viability. They‘ll handle everything from permits to utility approval and installation. Expect the full process to take 4-6 weeks typically.
