Solar Panel Cost Guide in Bayshore, NC (Mar 2023)
- Bayshore Solar Installation Cost: $11,326
- 25-Year Savings: $18,619
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Bayshore
Find out what the average cost of solar panel installation is in Bayshore.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bayshore, the average cost of a solar system is 2.54 per watt. The average Bayshore homeowner needs a 6.4-kilowatt system, which would cost about $11,326 with the federal tax credit, or $16,196 before the 30% tax credit is applied.
The true cost of your system can go higher or lower than the average in Bayshore based on a few factors, such as the brand of solar panels you choose and the solar company you hire. Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Bayshore can save around $18,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Bayshore
| Year | Return on Investment |
|---|---|
| 1 years | $-10,128 |
| 3 years | $-7,733 |
| 5 years | $-5,337 |
| 7 years | $-2,941 |
| 9 years | $-546 |
| 11 years | $1,850 |
| 13 years | $4,245 |
| 15 years | $6,641 |
| 17 years | $9,036 |
| 19 years | $11,432 |
| 21 years | $13,828 |
| 23 years | $16,223 |
| 25 years | $18,619 |
Top Solar Installers in Bayshore
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make swapping over to solar power much easier. Some solar companies, especially local ones, can help you better understand incentives in Bayshore, optimizing your ROI.
If you're on the hunt for a solar company in Bayshore, the EcoWatch team has compiled a list of our top suggestions here:
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 Bayshore
Factors that Affect Solar Panel Costs in Bayshore
The cost of installing a solar system in Bayshore can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Bayshore, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $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 choose 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 Bayshore average.
Solar Financing Terms
Many homeowners find the average cost of solar in Bayshore to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. 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 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
Finally, the company you hire to install your solar panel system can influence the cost. Bayshore's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also fit into 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 | $2.64 | $11,095 | $17,103 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,088 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,215 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,485 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,897 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,452 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $55,148 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $61,987 | 8.5 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Bayshore, NC Solar Cost FAQs
What is the average cost of installing solar panels in Bayshore?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Bayshore?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.