Solar Panel Cost Guide in Asheboro, NC (2024 Update)
- Asheboro Solar Installation Cost: $16,982
- 25-Year Savings: $20,222
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Asheboro
Let’s have a look at the average cost of solar panels in Asheboro.
The average cost of solar panels in Asheboro is 4 per watt.To cover the typical energy needs of the average home in Asheboro, most homeowners require a 6.9-kilowatt system. Using the figure above, a solar installation costs around $16,982, or $24,284 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Asheboro homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a rewarding investment. The average homeowner in Asheboro can save about $18,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Asheboro
| Year | Return on Investment |
|---|---|
| 1 years | $-15,511 |
| 3 years | $-12,569 |
| 5 years | $-9,627 |
| 7 years | $-6,684 |
| 9 years | $-3,742 |
| 11 years | $-800 |
| 13 years | $2,142 |
| 15 years | $5,084 |
| 17 years | $8,027 |
| 19 years | $10,969 |
| 21 years | $13,911 |
| 23 years | $16,853 |
| 25 years | $19,795 |
Top Solar Installers in Asheboro
When switching to solar energy, many homeowners decide to go with a solar company since putting up a solar system yourself can be a time-consuming project. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are various licensed solar professionals that can help you install your solar system. 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 Asheboro
Factors that Affect Solar Panel Costs in Asheboro
Although the average cost of a solar system in Asheboro is $16,982, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.There are many different solar panel brands and the one you choose also changes the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Asheboro offer solar loans, which reduce your upfront costs of installing solar panels.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $3.65 | $15,332 | $12,891 | 13.6 years |
| 8 kW | $3.58 | $20,049 | $17,581 | 13.3 years |
| 10 kW | $3.51 | $24,570 | $22,467 | 13.1 years |
| 12 kW | $3.44 | $28,894 | $27,551 | 12.8 years |
| 14 kW | $3.37 | $33,022 | $32,830 | 12.5 years |
| 16 kW | $3.30 | $36,953 | $38,307 | 12.3 years |
| 18 kW | $3.23 | $40,688 | $43,979 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $49,849 | 11.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
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 Asheboro, NC Solar Cost FAQs
How much does it cost to install solar panels in Asheboro?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Asheboro?
A solar panel system isn’t free in Asheboro, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact how much my home is worth?
Solar panels can increase your home value remarkably 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% with a solar installation."
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.