Solar Panel Cost Guide in Glen Raven, NC (2023 Update)
- Glen Raven Solar Installation Cost: $12,375
- 25-Year Savings: $20,662
- Payback Period: 9.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Glen Raven
Let's have a look at the average cost of solar in Glen Raven.
Although the national average of solar panels is $2.66 per watt, solar panels in Glen Raven typically cost around 2.54. Using this figure, a typical 7.0-kW system would cost about $12,375 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Glen Raven based on several factors, such as the brand of solar panels you choose and the solar contractor you hire. Even with the significant initial cost, the average Glen Raven homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To get a free quote from a top solar company in Glen Raven, you can click the button below.
Solar savings over time in Glen Raven
| Year | Return on Investment |
|---|---|
| 1 years | $-11,053 |
| 3 years | $-8,410 |
| 5 years | $-5,768 |
| 7 years | $-3,125 |
| 9 years | $-482 |
| 11 years | $2,161 |
| 13 years | $4,804 |
| 15 years | $7,447 |
| 17 years | $10,090 |
| 19 years | $12,733 |
| 21 years | $15,376 |
| 23 years | $18,019 |
| 25 years | $20,662 |
Top Solar Installers in Glen Raven
Although it's possible to install solar panels yourself, it requires extra effort and expertise. That's why most people choose to go with a solar panel installer. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our recommendations for providers in Glen Raven:
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 Glen Raven
Factors that Affect Solar Panel Costs in Glen Raven
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Glen Raven to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. Though solar loans make going solar more accessible for Glen Raven homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect how much it costs. Glen Raven's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Glen Raven are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $17,378 | 9.7 years |
| 8 kW | $2.59 | $14,508 | $23,455 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,674 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $36,035 | 9.2 years |
| 14 kW | $2.44 | $23,896 | $42,539 | 9.0 years |
| 16 kW | $2.39 | $26,741 | $49,185 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $55,973 | 8.6 years |
| 20 kW | $2.29 | $32,004 | $62,904 | 8.4 years |
How to Save on Solar Panels
There are many 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:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Glen Raven, NC Solar Cost FAQs
What is the average cost of installing solar panels in Glen Raven?
The average cost of solar panels in Glen Raven 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 such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Glen Raven?
You can't get solar panels for free in Glen Raven. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Glen Raven?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of 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 continue to use 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.