Solar Panel Cost Guide in Cornelius, NC (2024 Update)
- Cornelius Solar Installation Cost: $16,767
- 25-Year Savings: $19,282
- Payback Period: 13.3 Years
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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 4 per watt.The average solar panel system size in Cornelius is around 6.8 kilowatts, meaning a cost of about $16,767 for a solar installation, or $23,977 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will look different based on your specific situation and what company you choose to go with.Despite the large initial cost, the average Cornelius homeowner can save around $17,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar company in Cornelius for a personalized estimate.
Solar savings over time in Cornelius
| Year | Return on Investment |
|---|---|
| 1 years | $-15,445 |
| 3 years | $-12,801 |
| 5 years | $-10,157 |
| 7 years | $-7,513 |
| 9 years | $-4,868 |
| 11 years | $-2,224 |
| 13 years | $420 |
| 15 years | $3,064 |
| 17 years | $5,709 |
| 19 years | $8,353 |
| 21 years | $10,997 |
| 23 years | $13,641 |
| 25 years | $16,286 |
Top Solar Installers in Cornelius
When switching to solar energy, many homeowners prefer to hire a solar installer since handling can be a challenging project. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're searching for a solar company in Cornelius, we've put together a list of our top suggestions here:
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 Cornelius
Factors that Affect Solar Panel Costs in Cornelius
The cost of installing a solar system in Cornelius can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation 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.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Cornelius average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Cornelius homeowners decide to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of 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 discount can bring their pricing lower to compete with bigger 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 | $12,289 | 13.9 years |
| 8 kW | $3.58 | $20,049 | $16,778 | 13.6 years |
| 10 kW | $3.51 | $24,570 | $21,464 | 13.3 years |
| 12 kW | $3.44 | $28,894 | $26,346 | 13.1 years |
| 14 kW | $3.37 | $33,022 | $31,425 | 12.8 years |
| 16 kW | $3.30 | $36,953 | $36,701 | 12.5 years |
| 18 kW | $3.23 | $40,688 | $42,173 | 12.3 years |
| 20 kW | $3.16 | $44,226 | $47,841 | 12.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
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 Cornelius, NC Solar Cost FAQs
How much does it cost to install solar panels in Cornelius?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Cornelius?
You can’t get solar panels for free in Cornelius. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
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 $496,325, so you can expect a value of about $20,349 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Cornelius is a rewarding investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.