Solar Panel Cost Guide in Albemarle, NC (2024 Update)
- Albemarle Solar Installation Cost: $16,751
- 25-Year Savings: $20,725
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Albemarle
Find out what the average cost of solar panel installation is in Albemarle.
Although the national average of solar panels is $2.66 per watt, solar panels in Albemarle generally cost about 4.The average solar panel system size in Albemarle is around 6.8 kilowatts, meaning a cost of about $16,751 for a solar installation, or $23,954 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Albemarle find installing solar panels has a decent ROI.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Albemarle
| Year | Return on Investment |
|---|---|
| 1 years | $-15,329 |
| 3 years | $-12,486 |
| 5 years | $-9,644 |
| 7 years | $-6,801 |
| 9 years | $-3,958 |
| 11 years | $-1,115 |
| 13 years | $1,728 |
| 15 years | $4,571 |
| 17 years | $7,414 |
| 19 years | $10,257 |
| 21 years | $13,099 |
| 23 years | $15,942 |
| 25 years | $18,785 |
Top Solar Installers in Albemarle
Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be time-consuming. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
Working with a professional 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Albemarle
Factors that Affect Solar Panel Costs in Albemarle
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Albemarle: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,510. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Albemarle, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Albemarle is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services at different costs.The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $13,576 | 13.3 years |
| 8 kW | $3.58 | $20,049 | $18,494 | 13.0 years |
| 10 kW | $3.51 | $24,570 | $23,609 | 12.7 years |
| 12 kW | $3.44 | $28,894 | $28,921 | 12.5 years |
| 14 kW | $3.37 | $33,022 | $34,429 | 12.2 years |
| 16 kW | $3.30 | $36,953 | $40,134 | 12.0 years |
| 18 kW | $3.23 | $40,688 | $46,035 | 11.7 years |
| 20 kW | $3.16 | $44,226 | $52,133 | 11.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Albemarle, NC Solar Cost FAQs
What is the average cost of installing solar panels in Albemarle?
The average cost of solar panels in Albemarle is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Albemarle?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Albemarle?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.