Solar Panel Cost Guide in Elizabethtown, NC (2023 Update)
- Elizabethtown Solar Installation Cost: $12,126
- 25-Year Savings: $21,417
- Payback Period: 9.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Elizabethtown
We go over average solar pricing in Elizabethtown.
While the national average of solar panels is $2.66 per watt, solar panels in Elizabethtown typically cost about 2.54. The average solar panel system size in Elizabethtown is around 6.8 kilowatts, meaning a cost of about $12,126 for a solar installation, or $17,340 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely vary based on the amount of energy your home requires and what company you go with. Many homeowners find going solar is a solid investment. The average homeowner in Elizabethtown can save about $19,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Elizabethtown for a quote for your home.
Solar savings over time in Elizabethtown
| Year | Return on Investment |
|---|---|
| 1 years | $-10,784 |
| 3 years | $-8,101 |
| 5 years | $-5,417 |
| 7 years | $-2,734 |
| 9 years | $-51 |
| 11 years | $2,633 |
| 13 years | $5,316 |
| 15 years | $8,000 |
| 17 years | $10,683 |
| 19 years | $13,367 |
| 21 years | $16,050 |
| 23 years | $18,733 |
| 25 years | $21,417 |
Top Solar Installers in Elizabethtown
Putting up solar panels by yourself can be a difficult undertaking, which is why getting a solar installer is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you pick which one will be best for your home.
If you're searching for a solar company in Elizabethtown, we've compiled a list of our top suggestions here:
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 Elizabethtown
Factors that Affect Solar Panel Costs in Elizabethtown
For many Elizabethtown homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Elizabethtown, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Elizabethtown, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Elizabethtown homeowners opt to finance their solar panel systems to offset upfront costs. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Elizabethtown is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, you'll have many options for solar installers that provide a range of services for different budgets. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $18,407 | 9.4 years |
| 8 kW | $2.59 | $14,508 | $24,827 | 9.2 years |
| 10 kW | $2.54 | $17,780 | $31,389 | 9.0 years |
| 12 kW | $2.49 | $20,909 | $38,093 | 8.9 years |
| 14 kW | $2.44 | $23,896 | $44,940 | 8.7 years |
| 16 kW | $2.39 | $26,741 | $51,929 | 8.5 years |
| 18 kW | $2.34 | $29,444 | $59,060 | 8.3 years |
| 20 kW | $2.29 | $32,004 | $66,334 | 8.1 years |
How to Save on Solar Panels
There are a large number of companies available in Elizabethtown, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
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 Elizabethtown, NC Solar Cost FAQs
How much does it cost to install solar panels in Elizabethtown?
This is a difficult question to answer exactly, 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Elizabethtown?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How will having solar panels impact the value of my home?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.