Solar Panel Cost Guide in Cherryville, NC (2024 Update)
- Cherryville Solar Installation Cost: $16,736
- 25-Year Savings: $19,075
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Cherryville
Let’s have a look at the average cost of solar panels in Cherryville.
While the national average of solar panels is $2.66 per watt, solar panels in Cherryville typically cost about 4.Using this figure, a typical 6.8-kW system would cost about $16,736 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Cherryville homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar company in Cherryville for a customized quote.
Solar savings over time in Cherryville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,414 |
| 3 years | $-12,770 |
| 5 years | $-10,125 |
| 7 years | $-7,481 |
| 9 years | $-4,837 |
| 11 years | $-2,193 |
| 13 years | $452 |
| 15 years | $3,096 |
| 17 years | $5,740 |
| 19 years | $8,384 |
| 21 years | $11,029 |
| 23 years | $13,673 |
| 25 years | $16,317 |
Top Solar Installers in Cherryville
Although it's possible to install solar panels on your own, it involves extra energy and know-how. That's one of the reasons most homeowners choose to hire a solar panel installer. Some solar installers, particularly local ones, can help you make the most of incentives in Cherryville, optimizing your ROI.
There are several licensed solar professionals that can help you install your solar panels. 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 Cherryville
Factors that Affect Solar Panel Costs in Cherryville
For many Cherryville homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Cherryville, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The type of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your all-in costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Cherryville is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services at different costs.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $3.65 | $15,332 | $12,138 | 14.0 years |
| 8 kW | $3.58 | $20,049 | $16,578 | 13.7 years |
| 10 kW | $3.51 | $24,570 | $21,213 | 13.4 years |
| 12 kW | $3.44 | $28,894 | $26,046 | 13.1 years |
| 14 kW | $3.37 | $33,022 | $31,075 | 12.9 years |
| 16 kW | $3.30 | $36,953 | $36,300 | 12.6 years |
| 18 kW | $3.23 | $40,688 | $41,722 | 12.3 years |
| 20 kW | $3.16 | $44,226 | $47,341 | 12.1 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project timeline incentives and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
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 Cherryville, NC Solar Cost FAQs
How much does it cost to install solar panels in Cherryville?
This is a hard question to answer exactly, because the cost depends on many 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. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
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 Cherryville is currently $234,807, so you can expect a value of about $9,627 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cherryville is a rewarding investment.
How many solar panels should I get to power 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 usually produce about 250 to 400 watt-hours per hour, the average house 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.