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.The average solar panel system size in Elon is around 7.0 kilowatts, meaning a cost of about $17,105 for a solar installation, or $24,460 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Elon homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the high initial cost, the average Elon homeowner can save around $18,000 on their energy bills over 20 years, which is one of the positives of solar.
To receive a free quote from a pre-vetted solar installer in Elon, you can 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
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make switching to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.
If you're looking for a solar installer in Elon, the EcoWatch team has compiled 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 Elon
Factors that Affect Solar Panel Costs in Elon
There are several criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Elon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $3,510 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Elon to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you want and also fits within your budget.
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
There are a lot of companies to choose from in Elon, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
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 Elon, NC Solar Cost FAQs
How much does it cost to install 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 kind 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 making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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.