Solar Panel Cost Guide in Bayshore, NC (2023 Update)
- Bayshore Solar Installation Cost: $11,329
- 25-Year Savings: $18,616
- Payback Period: 9.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bayshore
Find out what the average cost of a solar system is in Bayshore.
In Bayshore, solar panels cost about 2.54 per watt on average. To account for the typical energy needs of the average home in Bayshore, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,326, or $16,196 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Bayshore 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. With average savings of about $18,000 on utility bills over 20 years, many homeowners in Bayshore find going solar can pay off big.
Click the button below to get connected to a top solar panel company in Bayshore for a customized estimate.
Solar savings over time in Bayshore
| Year | Return on Investment |
|---|---|
| 1 years | $-11,229 |
| 3 years | $-11,030 |
| 5 years | $-10,830 |
| 7 years | $-10,630 |
| 9 years | $-10,431 |
| 11 years | $-10,231 |
| 13 years | $-10,031 |
| 15 years | $-9,832 |
| 17 years | $-9,632 |
| 19 years | $-9,432 |
| 21 years | $-9,233 |
| 23 years | $-9,033 |
| 25 years | $-8,833 |
Top Solar Installers in Bayshore
When making the switch to solar, many homeowners choose to go with a solar installer since installing a solar system yourself can be a time-consuming project. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
Working with a vetted solar company can help you make the most of your investment in solar. 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 Bayshore
Factors that Affect Solar Panel Costs in Bayshore
Although the average cost of a solar system in Bayshore is $11,326, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,540. The kind of solar equipment you choose can bring your price up or down 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, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Bayshore average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your total costs, so it's crucial to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Bayshore, you'll have plenty of options to choose from, but each comes at different price points for labor and 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 come with an above-average cost. It's best to do some research and choose a company that provides the products, warranties and services you're looking for 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 | $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
There are numerous companies available in Bayshore, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of 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 thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
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 Bayshore, NC Solar Cost FAQs
How much does it cost to install solar panels in Bayshore?
The average cost of solar panels in Bayshore is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Bayshore?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your home value?
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 Bayshore is currently $271,700, which means you can look forward to a value of about $11,140 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Bayshore is a worthwhile investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.