Solar Panel Cost Guide in Farmville, NC (Mar 2023)
- Farmville Solar Installation Cost: $12,428
- 25-Year Savings: $20,914
- Payback Period: 9.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Farmville
Let's have a look at the average cost of solar panels in Farmville.
While the national average of solar panels is $2.66 per watt, solar panels in Farmville typically cost around 2.54. Using this figure, a typical 7.0-kW system would cost about $12,428 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Farmville homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $18,000 over 20 years on energy bills.
To get a free estimate from a top solar installation company in Farmville, you can click the button below.
Solar savings over time in Farmville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,095 |
| 3 years | $-8,427 |
| 5 years | $-5,760 |
| 7 years | $-3,092 |
| 9 years | $-425 |
| 11 years | $2,242 |
| 13 years | $4,910 |
| 15 years | $7,577 |
| 17 years | $10,245 |
| 19 years | $12,912 |
| 21 years | $15,579 |
| 23 years | $18,247 |
| 25 years | $20,914 |
Top Solar Installers in Farmville
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be hard. The expertise that solar installers offer can be useful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our recommendations for providers in Farmville:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Farmville
Factors that Affect Solar Panel Costs in Farmville
For many Farmville homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Farmville, 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
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,540 per kilowatt in Farmville. The kind of solar equipment you choose can increase or decrease your cost 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. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Farmville average.
Solar Financing Terms
Many homeowners find the average cost of solar in Farmville to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's important to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Farmville is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $17,542 | 9.7 years |
| 8 kW | $2.59 | $14,508 | $23,674 | 9.5 years |
| 10 kW | $2.54 | $17,780 | $29,948 | 9.3 years |
| 12 kW | $2.49 | $20,909 | $36,365 | 9.1 years |
| 14 kW | $2.44 | $23,896 | $42,923 | 8.9 years |
| 16 kW | $2.39 | $26,741 | $49,624 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $56,467 | 8.6 years |
| 20 kW | $2.29 | $32,004 | $63,452 | 8.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Farmville, NC Solar Cost FAQs
How much does it cost to install solar panels in Farmville?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your property's value 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 a solar system."
How many solar panels should I get 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 usually produce about 250 to 400 watt-hours per hour, the average home 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.