Solar Panel Cost Guide in Cherryville, NC (2023 Update)
- Cherryville Solar Installation Cost: $12,108
- 25-Year Savings: $19,078
- Payback Period: 9.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Cherryville
Find out what the average cost of a solar system is in Cherryville.
In Cherryville, solar panels cost about 2.54 per watt on average. Because a 6.8-kW system is needed to cover the energy usage of a typical home in Cherryville, the average price of going solar will be about $12,108 after claiming the federal solar tax credit of 30%.
These figures are only averages, and how much solar costs for you will differ based on your specific situation and what company you want to go with. With typical savings of about $17,000 on energy bills over 20 years, many homeowners in Cherryville find investing in solar has a decent ROI.
You can click the button below to get connected with a top solar installer in Cherryville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Cherryville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,861 |
| 3 years | $-8,366 |
| 5 years | $-5,871 |
| 7 years | $-3,376 |
| 9 years | $-881 |
| 11 years | $1,614 |
| 13 years | $4,109 |
| 15 years | $6,603 |
| 17 years | $9,098 |
| 19 years | $11,593 |
| 21 years | $14,088 |
| 23 years | $16,583 |
| 25 years | $19,078 |
Top Solar Installers in Cherryville
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be time-consuming. The expertise that solar companies provide can be valuable as well, especially if you don't quite know what kind of solar equipment would be right for your home.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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
There are several factors that can determine your solar system 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
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,540 per kilowatt in Cherryville. There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. Even though solar loans make adopting solar energy more accessible for Cherryville homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can impact your pricing. Cherryville's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Cherryville know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $2.64 | $11,095 | $16,375 | 10.1 years |
| 8 kW | $2.59 | $14,508 | $22,118 | 9.9 years |
| 10 kW | $2.54 | $17,780 | $28,003 | 9.7 years |
| 12 kW | $2.49 | $20,909 | $34,031 | 9.5 years |
| 14 kW | $2.44 | $23,896 | $40,200 | 9.3 years |
| 16 kW | $2.39 | $26,741 | $46,512 | 9.1 years |
| 18 kW | $2.34 | $29,444 | $52,966 | 8.9 years |
| 20 kW | $2.29 | $32,004 | $59,563 | 8.7 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 brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Although 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.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects 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
EcoWatch's Cherryville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Cherryville?
The average cost of solar panels in Cherryville 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 such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Cherryville?
A solar panel system isn't free in Cherryville, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will installing solar panels impact how much my 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 $134,000, so you can expect a value of about $5,494 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Cherryville is a worthwhile investment.
How long do solar panels last in Cherryville?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.