Solar Panel Cost Guide in Apex, NC (Mar 2023)
- Apex Solar Installation Cost: $12,428
- 25-Year Savings: $18,165
- Payback Period: 10.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Apex
We break down average solar pricing in Apex.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Apex, the average cost of a solar system is 2.54 per watt. The average solar panel system size in Apex is around 7.0 kilowatts, meaning a cost of about $12,428 for a solar installation, or $17,772 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of installing solar panels can vary based on several factors, such as what size system you need, your energy usage and what installation company you go with. Even with the high upfront cost, the average Apex homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a vetted solar company in Apex for a quote for your home.
Solar savings over time in Apex
| Year | Return on Investment |
|---|---|
| 1 years | $-11,204 |
| 3 years | $-8,757 |
| 5 years | $-6,310 |
| 7 years | $-3,862 |
| 9 years | $-1,415 |
| 11 years | $1,033 |
| 13 years | $3,480 |
| 15 years | $5,928 |
| 17 years | $8,375 |
| 19 years | $10,823 |
| 21 years | $13,270 |
| 23 years | $15,718 |
| 25 years | $18,165 |
Top Solar Installers in Apex
Although you can install solar panels yourself, it requires extra time and handiness. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Some solar installers, especially local ones, can help you better understand incentives in Apex, thereby optimizing your ROI.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
While the average cost of a solar system in Apex is $12,428, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Apex, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your all-in costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect the cost. Apex's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally 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 | $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 kind of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- 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 big role in the company you opt for.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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.