Solar Panel Cost Guide in Apex, NC (2023 Update)
- Apex Solar Installation Cost: $12,435
- 25-Year Savings: $18,159
- Payback Period: 10.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Apex
Find out how much it might cost to go solar in Apex.
In Apex, solar panels cost about 2.54 per watt on average. The average Apex homeowner needs a 7.0-kilowatt system, which would cost about $12,428 with the federal tax credit, or $17,772 before the 30% tax credit is applied.
These figures are just averages, and the cost of going solar for you may vary based on the amount of energy your home requires and what company you choose to go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $17,000 over 20 years on power bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Apex
| Year | Return on Investment |
|---|---|
| 1 years | $-12,333 |
| 3 years | $-12,129 |
| 5 years | $-11,925 |
| 7 years | $-11,721 |
| 9 years | $-11,517 |
| 11 years | $-11,313 |
| 13 years | $-11,109 |
| 15 years | $-10,905 |
| 17 years | $-10,701 |
| 19 years | $-10,497 |
| 21 years | $-10,293 |
| 23 years | $-10,089 |
| 25 years | $-9,885 |
Top Solar Installers in Apex
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of an installer can make your swap to solar power much easier. In addition, if you'd like to maximize your investment in solar energy, opting for a solar company can help with that as well. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
Working with a professional solar company can make going solar easier. 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 Apex
Factors that Affect Solar Panel Costs in Apex
The cost of installing a solar system in Apex can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Apex, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,540 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Apex average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Apex homeowners decide to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, including the total 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 more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence the cost. Apex's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $15,152 | 10.6 years |
| 8 kW | $2.59 | $14,508 | $20,487 | 10.4 years |
| 10 kW | $2.54 | $17,780 | $25,965 | 10.2 years |
| 12 kW | $2.49 | $20,909 | $31,584 | 10.0 years |
| 14 kW | $2.44 | $23,896 | $37,346 | 9.8 years |
| 16 kW | $2.39 | $26,741 | $43,251 | 9.6 years |
| 18 kW | $2.34 | $29,444 | $49,297 | 9.3 years |
| 20 kW | $2.29 | $32,004 | $55,486 | 9.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The brand of solar panel you want to get plays a role in which installer you should opt for, since different companies offer different panels.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Apex, NC Solar Cost FAQs
What is the average cost of installing solar panels in Apex?
The average cost of solar panels in Apex is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Apex?
Solar panels aren't free in Apex, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Apex?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Apex?
On average, solar panels can last 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.