Solar Financing Options in South Carolina
Compare the best ways to finance a solar installation in South Carolina. Based on average local electricity costs of 14.5¢/kWh and a typical monthly bill of $155, here is how each financing option stacks up over 25 years.
System Cost
$19,440
After Credits
$8,748
Federal Credit (30%)
$5,832
State Credit
$4,860
Financing Calculator for South Carolina
Net after credits: $8,748
| Method | Monthly Cost | Upfront Cost | 25-Year Total | 25-Year Savings | Own System |
|---|---|---|---|---|---|
Cash PurchaseBest Value | $0/mo | $8,748 | $12,498 | $56,029 | Yes |
Solar Loan | $65/mo | $0 | $16,403 | $48,373 | Yes |
Solar Lease | $124/mo | $0 | $53,545 | $13,740 | No |
Power Purchase Agreement | $81/mo | $0 | $24,189 | $43,096 | No |
Cash Purchase
Best ValueMonthly
$0
Upfront
$8,748
25-Year Total
$12,498
25-Year Savings
$56,029
Solar Loan
Monthly
$65
Upfront
$0
25-Year Total
$16,403
25-Year Savings
$48,373
Solar Lease
Monthly
$124
Upfront
$0
25-Year Total
$53,545
25-Year Savings
$13,740
Power Purchase Agreement
Monthly
$81
Upfront
$0
25-Year Total
$24,189
25-Year Savings
$43,096
Estimates based on average electricity costs in South Carolina. Actual savings vary based on system size, energy usage, and local utility rates. Loan calculations assume fixed-rate financing. Consult a solar advisor for a personalized quote.
Understanding Your Financing Options in South Carolina
Cash Purchase
Pay upfront after tax credits and own your system outright. This option delivers the highest long-term savings since there are no interest payments. Your net cost in South Carolina is $8,748 after all credits.
Solar Loan
Finance your system with $0 down and own it from day one. Monthly loan payments are often lower than your current electricity bill. Typical loan terms in South Carolina range from 10 to 25 years.
Solar Lease
Lease a system with no upfront cost and pay a fixed monthly amount that is typically 20% less than your current bill. The installer owns and maintains the system for the 25-year term.
Power Purchase Agreement (PPA)
Pay only for the energy your panels produce at a rate lower than the utility. No upfront cost and no maintenance responsibilities. A great option if you want guaranteed savings with zero commitment.
Best Value in South Carolina: Cash Purchase
Based on average electricity costs, the cash purchase option offers the highest 25-year savings of $56,029 for homeowners in South Carolina. Adjust the calculator above to see how different interest rates and loan terms change the comparison.
Related Solar Resources for South Carolina
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Our solar advisors can help you find the perfect financing option for your South Carolina home. Compare real loan rates, lease terms, and PPA offers — all in one free consultation.
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