Solar Panel Cost Guide in Albemarle, NC (2023 Update)
- Albemarle Solar Installation Cost: $12,122
- 25-Year Savings: $20,725
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Albemarle
Find out what the average cost of installing solar panels is in Albemarle.
While the national average of solar panels is $2.66 per watt, solar panels in Albemarle typically cost around 2.54. Using this figure, a typical 6.8-kW system would cost about $12,126 before the 30% 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 a few factors, such as what size system you need, your energy usage and what solar installer you go with. Even with the significant initial cost, the average Albemarle homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the positives of solar.
To get a free quote from a pre-vetted solar installation company in Albemarle, you can click the button below.
Solar savings over time in Albemarle
| Year | Return on Investment |
|---|---|
| 1 years | $-12,012 |
| 3 years | $-11,793 |
| 5 years | $-11,574 |
| 7 years | $-11,355 |
| 9 years | $-11,136 |
| 11 years | $-10,917 |
| 13 years | $-10,698 |
| 15 years | $-10,479 |
| 17 years | $-10,260 |
| 19 years | $-10,041 |
| 21 years | $-9,822 |
| 23 years | $-9,603 |
| 25 years | $-9,384 |
Top Solar Installers in Albemarle
Although it's possible to install solar panels by yourself, it involves extra energy and knowledge. That's one of the reasons most homeowners choose to go with a solar panel installer. The expertise that solar installers offer can be invaluable as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Albemarle
Factors that Affect Solar Panel Costs in Albemarle
The cost of installing a solar system in Albemarle can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Albemarle, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the massive popularity of clean energy solutions in Albemarle, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that provides the products, warranties and services you want and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $17,813 | 9.6 years |
| 8 kW | $2.59 | $14,508 | $24,035 | 9.4 years |
| 10 kW | $2.54 | $17,780 | $30,399 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $36,906 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $43,555 | 8.9 years |
| 16 kW | $2.39 | $26,741 | $50,346 | 8.7 years |
| 18 kW | $2.34 | $29,444 | $57,279 | 8.5 years |
| 20 kW | $2.29 | $32,004 | $64,355 | 8.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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 Albemarle, NC Solar Cost FAQs
What is the average cost of installing solar panels in Albemarle?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Albemarle?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
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 amount of 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 get 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.