Solar Panel Cost Guide in Elon, NC (2024 Update)
- Elon Solar Installation Cost: $17,105
- 25-Year Savings: $20,051
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Elon
We break down average solar pricing in Elon.
The national average cost of solar panels is $2.66 per watt, but in Elon it’s 4 per watt.Using this figure, a typical 7.0-kW system would cost about $17,105 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs will most likely differ based on factors unique to your home and what company you want to go with.With typical savings of about $18,000 on energy bills over 20 years, many homeowners in Elon find going solar has a decent ROI.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Elon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,783 |
| 3 years | $-13,139 |
| 5 years | $-10,494 |
| 7 years | $-7,850 |
| 9 years | $-5,206 |
| 11 years | $-2,562 |
| 13 years | $83 |
| 15 years | $2,727 |
| 17 years | $5,371 |
| 19 years | $8,015 |
| 21 years | $10,660 |
| 23 years | $13,304 |
| 25 years | $15,948 |
Top Solar Installers in Elon
Although you can install solar panels by yourself, it takes extra energy and knowledge. That's why the majority of homeowners choose to hire a solar panel installer. Another great thing about going with a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
If you’d like to go solar but still aren’t sure which solar panel installer to go with, here are our suggestions for providers in Elon:
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Elon
Factors that Affect Solar Panel Costs in Elon
The cost of installing a solar system in Elon can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
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 electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,510 per kilowatt in Elon.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Elon, where sunlight is relatively 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Elon provide solar loans, which reduce your upfront costs of installing a solar system.Even though solar loans make switching to solar energy more accessible for Elon homeowners, they can also raise 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 avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Elon is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for instance, you’ll have no shortage of solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $12,617 | 13.7 years |
| 8 kW | $3.58 | $20,049 | $17,216 | 13.5 years |
| 10 kW | $3.51 | $24,570 | $22,011 | 13.2 years |
| 12 kW | $3.44 | $28,894 | $27,003 | 12.9 years |
| 14 kW | $3.37 | $33,022 | $32,191 | 12.7 years |
| 16 kW | $3.30 | $36,953 | $37,576 | 12.4 years |
| 18 kW | $3.23 | $40,688 | $43,158 | 12.1 years |
| 20 kW | $3.16 | $44,226 | $48,936 | 11.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose greatly affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two 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.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Elon, NC Solar Cost FAQs
What is the average cost of installing solar panels in Elon?
The average cost of solar panels in Elon 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Elon?
You can’t get solar panels for free in Elon. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels 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 usually 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.