Solar Panel Cost Guide in Fuquay-Varina, NC (2024 Update)
- Fuquay-Varina Solar Installation Cost: $17,125
- 25-Year Savings: $19,412
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Fuquay-Varina
Find out what the average cost of solar panel installation is in Fuquay-Varina.
The national average cost of solar panels is $2.66 per watt, but in Fuquay-Varina it’s 4 per watt.Using this figure, a typical 7.0-kW system would cost about $17,125 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more.But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Fuquay-Varina
| Year | Return on Investment |
|---|---|
| 1 years | $-15,654 |
| 3 years | $-12,712 |
| 5 years | $-9,769 |
| 7 years | $-6,827 |
| 9 years | $-3,885 |
| 11 years | $-943 |
| 13 years | $1,999 |
| 15 years | $4,941 |
| 17 years | $7,884 |
| 19 years | $10,826 |
| 21 years | $13,768 |
| 23 years | $16,710 |
| 25 years | $19,652 |
Top Solar Installers in Fuquay-Varina
When switching to solar energy, many homeowners decide to hire a solar installer since DIY solar panel installation can be a difficult project. The expertise that solar companies provide can be useful as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Fuquay-Varina
Factors that Affect Solar Panel Costs in Fuquay-Varina
Even though the average cost of a solar system in Fuquay-Varina is $17,125, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Fuquay-Varina, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Fuquay-Varina provide solar loans, which reduce the initial cost of installing solar panels.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Fuquay-Varina, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete 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 | $12,047 | 14.0 years |
| 8 kW | $3.58 | $20,049 | $16,456 | 13.7 years |
| 10 kW | $3.51 | $24,570 | $21,061 | 13.5 years |
| 12 kW | $3.44 | $28,894 | $25,863 | 13.2 years |
| 14 kW | $3.37 | $33,022 | $30,861 | 12.9 years |
| 16 kW | $3.30 | $36,953 | $36,056 | 12.7 years |
| 18 kW | $3.23 | $40,688 | $41,448 | 12.4 years |
| 20 kW | $3.16 | $44,226 | $47,036 | 12.1 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Fuquay-Varina, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar company. Make sure you understand how the installation process will go and the project completion timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Fuquay-Varina, NC Solar Cost FAQs
What is the average cost of installing solar panels in Fuquay-Varina?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, 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 Fuquay-Varina?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Fuquay-Varina?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Fuquay-Varina?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.