Solar Panel Cost Guide in Davidson, NC (2024 Update)
- Davidson Solar Installation Cost: $16,860
- 25-Year Savings: $18,467
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Davidson
See how much it might cost to make the switch to solar in Davidson.
The average cost of a solar panel system in Davidson is 4 per watt.The average solar panel system size in Davidson is around 6.9 kilowatts, meaning a cost of about $16,860 for a solar installation, or $24,110 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Davidson based on a variety of factors, such as the type of solar panels you choose and the solar company you hire.With average savings of about $17,000 on energy bills over 20 years, many homeowners in Davidson find going solar can pay off big.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Davidson
| Year | Return on Investment |
|---|---|
| 1 years | $-15,538 |
| 3 years | $-12,894 |
| 5 years | $-10,250 |
| 7 years | $-7,606 |
| 9 years | $-4,961 |
| 11 years | $-2,317 |
| 13 years | $327 |
| 15 years | $2,971 |
| 17 years | $5,616 |
| 19 years | $8,260 |
| 21 years | $10,904 |
| 23 years | $13,548 |
| 25 years | $16,193 |
Top Solar Installers in Davidson
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring a solar company can make switching to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you’d like to start using solar energy but still aren’t certain which solar system company to go with, here are our recommendations for providers in Davidson:
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 Davidson
Factors that Affect Solar Panel Costs in Davidson
For many Davidson homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Davidson, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,510. There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Davidson, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can play a role in determining your pricing. Davidson’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion 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 | $11,482 | 14.3 years |
| 8 kW | $3.58 | $20,049 | $15,703 | 14.0 years |
| 10 kW | $3.51 | $24,570 | $20,120 | 13.7 years |
| 12 kW | $3.44 | $28,894 | $24,734 | 13.5 years |
| 14 kW | $3.37 | $33,022 | $29,544 | 13.2 years |
| 16 kW | $3.30 | $36,953 | $34,551 | 12.9 years |
| 18 kW | $3.23 | $40,688 | $39,754 | 12.6 years |
| 20 kW | $3.16 | $44,226 | $45,154 | 12.4 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Davidson, NC Solar Cost FAQs
How much does it cost to install solar panels in Davidson?
The average cost of solar panels in Davidson is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Davidson?
You can’t get solar panels for free in Davidson. However, you may still be able to get 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.
Can you sell solar power back to the grid in Davidson?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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 household 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.