Solar Panel Cost Guide in Boone, NC (Mar 2023)
- Boone Solar Installation Cost: $12,802
- 25-Year Savings: $18,662
- Payback Period: 10.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Boone
We go over average solar pricing in Boone.
The national average cost of solar panels is $2.66 per watt, but in Boone it's 2.54 per watt. The average Boone homeowner needs a 7.2-kilowatt system, which would cost about $12,802 with the federal tax credit, or $18,307 before the 30% tax credit is applied.
How much you pay can be higher or lower than the average in Boone based on a variety of factors, such as the model of solar panels you choose and the solar company you hire. But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar company in Boone for a quote for your home.
Solar savings over time in Boone
| Year | Return on Investment |
|---|---|
| 1 years | $-11,543 |
| 3 years | $-9,026 |
| 5 years | $-6,509 |
| 7 years | $-3,992 |
| 9 years | $-1,475 |
| 11 years | $1,042 |
| 13 years | $3,559 |
| 15 years | $6,076 |
| 17 years | $8,593 |
| 19 years | $11,110 |
| 21 years | $13,628 |
| 23 years | $16,145 |
| 25 years | $18,662 |
Top Solar Installers in Boone
Many homeowners opt for a solar panel company since trying to install solar panels on your own can be a lot of work. Companies can also have access to a large variety of the best solar panels and help you decide which one will be best for your home.
If you're looking for a solar installer in Boone, we've organized 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 Boone
Factors that Affect Solar Panel Costs in Boone
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Boone: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Boone, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,540 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Boone, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Boone, which can lower, or in some cases completely eliminate, your upfront costs to make 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Boone, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $15,125 | 10.6 years |
| 8 kW | $2.59 | $14,508 | $20,451 | 10.4 years |
| 10 kW | $2.54 | $17,780 | $25,919 | 10.2 years |
| 12 kW | $2.49 | $20,909 | $31,529 | 10.0 years |
| 14 kW | $2.44 | $23,896 | $37,282 | 9.8 years |
| 16 kW | $2.39 | $26,741 | $43,177 | 9.6 years |
| 18 kW | $2.34 | $29,444 | $49,214 | 9.4 years |
| 20 kW | $2.29 | $32,004 | $55,394 | 9.2 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Boone, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
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 Boone, NC Solar Cost FAQs
What is the average cost of installing solar panels in Boone?
The average cost of solar panels in Boone 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 things like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase your home value?
Solar panels can increase the value of your home 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 many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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.