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.
In Albemarle, solar panels cost about 4 per watt on average.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.
The true cost of your system can go higher or lower than the average in Albemarle depending on a few factors, such as the type of solar panels you choose and the solar company you hire.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Albemarle can save about $18,000 on their power bills over 20 years.
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 installing solar panels yourself can be hard. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
For many Albemarle homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Albemarle, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Albemarle, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Albemarle provide solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to 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 considerably.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Albemarle, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Some companies only sell high-efficiency and high-priced 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 decide on the 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 | $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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- 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: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Warranty: If you’re worried about the durability of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Companies that have been in business 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 adequate aftercare and customer support, such as part repairs and replacements.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
How much does it cost to install 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 actual cost will depend on things such as the kind 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 appealing 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 option if you want to get the most savings.
How will having solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Albemarle is currently $232,635, so you could be looking at a value of about $9,538 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Albemarle is a worthwhile investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.