Solar Panel Cost Guide in Canton, NC (2023 Update)
- Canton Solar Installation Cost: $12,562
- 25-Year Savings: $22,817
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Canton
Let's take a look at the average cost of solar panels in Canton.
Although the national average of solar panels is $2.66 per watt, solar panels in Canton typically cost about 2.54. The average solar panel system size in Canton is around 7.1 kilowatts, meaning a cost of about $12,570 for a solar installation, or $17,975 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely differ based on your energy needs and what company you choose to go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Canton can save about $19,000 on their electricity bills over 20 years.
To receive a free estimate from a vetted solar installer in Canton, you can click the button below.
Solar savings over time in Canton
| Year | Return on Investment |
|---|---|
| 1 years | $-12,444 |
| 3 years | $-12,208 |
| 5 years | $-11,973 |
| 7 years | $-11,737 |
| 9 years | $-11,501 |
| 11 years | $-11,265 |
| 13 years | $-11,029 |
| 15 years | $-10,793 |
| 17 years | $-10,557 |
| 19 years | $-10,322 |
| 21 years | $-10,086 |
| 23 years | $-9,850 |
| 25 years | $-9,614 |
Top Solar Installers in Canton
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make switching to solar power much easier. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar installer in Canton, 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
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 Canton
Factors that Affect Solar Panel Costs in Canton
There are a number of factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely 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. On the other hand, higher efficiency could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Canton average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the amount of 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 more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installation company you select will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $2.64 | $11,095 | $18,949 | 9.2 years |
| 8 kW | $2.59 | $14,508 | $25,550 | 9.1 years |
| 10 kW | $2.54 | $17,780 | $32,293 | 8.9 years |
| 12 kW | $2.49 | $20,909 | $39,179 | 8.7 years |
| 14 kW | $2.44 | $23,896 | $46,206 | 8.5 years |
| 16 kW | $2.39 | $26,741 | $53,376 | 8.3 years |
| 18 kW | $2.34 | $29,444 | $60,688 | 8.2 years |
| 20 kW | $2.29 | $32,004 | $68,143 | 8.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which company you should go with, since different companies provide different panels.
- Warranty: If you care about the longevity of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Companies that have been operating for many years likely have a solid 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.
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 Canton, NC Solar Cost FAQs
What is the average cost of installing solar panels in Canton?
The average cost of solar panels in Canton 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 consume.
Should I lease or buy solar panels in Canton?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Canton have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs 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 household 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.