Solar Panel Cost Guide in Cornelius, NC (Oct 2022)

  • Cornelius Solar Installation Cost: $12,126
  • 25-Year Savings: $19,289
  • 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 Cornelius

Let's take a look at the average cost of solar panels in Cornelius.

The national average cost of solar panels is $2.66 per watt, but in Cornelius it's $3 per watt. The average solar panel system size in Cornelius is around 6.8 kilowatts, meaning a cost of about $12,126 for a solar installation, or $8,973 after the 30% federal solar tax credit is applied.

How much you pay can be higher or lower than the average in Cornelius depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire. For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $17,000 in savings on electricity bills over 20 years.

To get a free estimate from a top solar company in Cornelius, you can click the button below.

Solar savings over time in Cornelius

Year Return on Investment
1 years $-10,869
3 years $-8,356
5 years $-5,843
7 years $-3,330
9 years $-816
11 years $1,697
13 years $4,210
15 years $6,723
17 years $9,236
19 years $11,750
21 years $14,263
23 years $16,776
25 years $19,289

Top Solar Installers in Cornelius

Although you can install solar panels on your own, it requires extra energy and expertise. That's one of the reasons most people choose to hire a solar panel installer. The expertise that solar installers provide can be useful as well, especially if you don't quite know what type of solar equipment would be right for your home.

Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:

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 Cornelius

Factors that Affect Solar Panel Costs in Cornelius

There are many factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment Size

The size of the system you need is one of the largest factors that affects the overall cost of installing solar panels. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about 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

Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Cornelius homeowners choose to finance their solar panel systems to offset upfront costs. Although solar loans make switching to solar energy more accessible for Cornelius homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The final major cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Cornelius, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.

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 $16,525 10.0 years
8 kW $2.59 $14,508 $22,318 9.8 years
10 kW $2.54 $17,780 $28,254 9.7 years
12 kW $2.49 $20,909 $34,331 9.5 years
14 kW $2.44 $23,896 $40,551 9.3 years
16 kW $2.39 $26,741 $46,913 9.1 years
18 kW $2.34 $29,444 $53,417 8.9 years
20 kW $2.29 $32,004 $60,063 8.7 years

Solar Incentives in Cornelius

Name Duke Energy - NC Solar Rebate Program
Website Visit here
More Info Click here

Name Property Tax Abatement for Solar Electric Systems
More Info Click here

Name Active Solar Heating and Cooling Systems Exemption
More Info Click here

Name EnergyUnited (Electric) Residential Energy Efficiency Program
Website Visit here
More Info Click here

Name Duke Energy (Electric) - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name NC GreenPower Production Incentive
Website Visit here
More Info Click here

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

Name Local Option - Green Building Incentives
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:

  • Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
  • Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
  • Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
  • Solar Panel Brands: Different companies offer various brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.

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 Cornelius, NC Solar Cost FAQs

How much does it cost to install solar panels in Cornelius?

This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Cornelius?

Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

How will installing solar panels impact the value of my home?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Cornelius is currently $306,175, so you could be looking at a value of about $12,553 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cornelius is a worthwhile 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 usage and the average daily 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 cover 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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