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.
In Cherryville, solar panels cost about 4 per watt on average.The average solar panel system size in Cherryville is around 6.8 kilowatts, meaning a cost of about $16,736 for a solar installation, or $23,932 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary based on a few factors, such as what size system you need, your energy usage and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $17,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar company in your area for a customized estimate.
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
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar panel installer can make switching to solar power much easier. The payback period of solar panels will vary depending on factors like your location and energy consumption, but going with a solar installer can shorten that period. Your provider will be able to help you identify incentives available in your area.
Working with a vetted solar installer can help your solar project go smoothly. 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Cherryville
Factors that Affect Solar Panel Costs in Cherryville
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Cherryville: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Cherryville, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Cherryville is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you’ll have no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Cherryville are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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 a variety of 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 more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to 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.
How will solar panels impact the value of my home?
Solar panels 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 look forward to a value of about $9,627 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Cherryville is a fruitful investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.