Solar Panel Cost Guide in Fuquay-Varina, NC (2023 Update)
- Fuquay-Varina Solar Installation Cost: $12,392
- 25-Year Savings: $19,412
- Payback Period: 9.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fuquay-Varina
Let's take a look at the average cost of solar in Fuquay-Varina.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fuquay-Varina, the average cost of a solar system is 2.54 per watt. Using this figure, a typical 7.0-kW system would cost about $12,393 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of equipment you want to get, your solar contractor and more. Many homeowners find adopting solar power is a sound investment. The average homeowner in Fuquay-Varina can save about $17,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar installer in Fuquay-Varina for a personalized estimate.
Solar savings over time in Fuquay-Varina
| Year | Return on Investment |
|---|---|
| 1 years | $-10,921 |
| 3 years | $-7,979 |
| 5 years | $-5,037 |
| 7 years | $-2,095 |
| 9 years | $847 |
| 11 years | $3,790 |
| 13 years | $6,732 |
| 15 years | $9,674 |
| 17 years | $12,616 |
| 19 years | $15,558 |
| 21 years | $18,501 |
| 23 years | $21,443 |
| 25 years | $24,385 |
Top Solar Installers in Fuquay-Varina
Although it's possible to install solar panels yourself, it requires extra time and knowledge. That's one of the reasons most homeowners choose a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
If you're looking for a solar installer in Fuquay-Varina, the EcoWatch team has compiled a list of our top suggestions here:
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
There are several criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most important 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 energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,540 per kilowatt in Fuquay-Varina. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Fuquay-Varina offer solar loans, which reduce the initial cost of installing a solar system. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Fuquay-Varina, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Fuquay-Varina know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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
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. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
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
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 actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Fuquay-Varina?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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 bang for your buck from going solar.
Does Fuquay-Varina have a net metering program?
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 give you credit toward your future electricity bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.