Solar Panel Cost Guide in Fuquay Varina, NC (Mar 2023)
- Fuquay Varina Solar Installation Cost: $12,393
- 25-Year Savings: $19,412
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Fuquay Varina
We break down average solar pricing in Fuquay Varina.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fuquay Varina, the average cost of solar panels is 2.54 per watt. The average Fuquay Varina homeowner needs a 7.0-kilowatt system, which would cost about $12,393 with the federal tax credit, or $17,722 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. Despite the large upfront cost, the average Fuquay Varina homeowner can save about $17,000 on their power bills over 20 years, which is one of the positives of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Fuquay Varina
| Year | Return on Investment |
|---|---|
| 1 years | $-11,120 |
| 3 years | $-8,576 |
| 5 years | $-6,032 |
| 7 years | $-3,487 |
| 9 years | $-943 |
| 11 years | $1,601 |
| 13 years | $4,146 |
| 15 years | $6,690 |
| 17 years | $9,234 |
| 19 years | $11,779 |
| 21 years | $14,323 |
| 23 years | $16,867 |
| 25 years | $19,412 |
Top Solar Installers in Fuquay Varina
Although it's possible to install solar panels on your own, it involves extra effort and know-how. Because of that, almost all homeowners choose to hire a solar panel installer. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Fuquay Varina:
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 Fuquay Varina
Factors that Affect Solar Panel Costs in Fuquay Varina
For many Fuquay Varina homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Fuquay Varina, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Fuquay Varina, 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 gauge by looking at past electricity bills. Your total cost can increase by around $2,540 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Fuquay Varina homeowners decide to finance their solar panel systems to make paying for solar more affordable. Even though solar loans make switching to solar energy more accessible for Fuquay Varina homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Fuquay Varina, and each can charge different amounts for labor and equipment. The company's size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $16,284 | 10.1 years |
| 8 kW | $2.59 | $14,508 | $21,996 | 9.9 years |
| 10 kW | $2.54 | $17,780 | $27,851 | 9.7 years |
| 12 kW | $2.49 | $20,909 | $33,848 | 9.5 years |
| 14 kW | $2.44 | $23,896 | $39,987 | 9.4 years |
| 16 kW | $2.39 | $26,741 | $46,268 | 9.2 years |
| 18 kW | $2.34 | $29,444 | $52,692 | 9.0 years |
| 20 kW | $2.29 | $32,004 | $59,258 | 8.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
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 Fuquay Varina, NC Solar Cost FAQs
How much does it cost to install solar panels in Fuquay Varina?
The average cost of solar panels in Fuquay Varina is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Fuquay Varina?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.