Solar Panel Cost Guide in Cherryville, NC (Sep 2022)

  • Cherryville Solar Installation Cost: $12,108
  • 25-Year Savings: $19,078
  • Payback Period: 9.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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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 $3 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 before 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 National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • 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 Size

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

Solar Incentives in Cherryville

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Duke Energy - NC Solar Rebate Program
Incentive Amount Residential: $0.60/W-AC
Nonresidential: $0.50/W-AC
Nonprofit: $0.75/W-AC
Incentive Max Residential: $6,000
Nonresidential: $50,000
Nonprofit: $75,000
Website Visit here
More Info Click here

Name Local Option - Financing Program for Renewable Energy and Energy Efficiency
More Info Click here

Name PSNC Energy (Gas) - Green Building Rate Discount
Incentive Amount discount/therm based on seasonal values
Website Visit here
More Info Click here

Name Property Tax Abatement for Solar Electric Systems
Incentive Amount Residential systems: 100% of the appraised value
All other systems: 80% of the appraised value
More Info Click here

Name Local Option - Green Building Incentives
More Info Click here

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 National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • 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 tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

What other factors should I consider aside from cost when buying solar panels?

The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

Does Cherryville have a net metering program?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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.

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