Solar Panel Cost Guide in Granite Falls, NC (2023 Update)
- Granite Falls Solar Installation Cost: $12,428
- 25-Year Savings: $20,487
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Granite Falls
Let's have a look at the average cost of solar panels in Granite Falls.
The national average cost of solar panels is $2.66 per watt, but in Granite Falls it's 2.54 per watt. The average Granite Falls homeowner needs a 7.0-kilowatt system, which would cost about $12,428 with the federal tax credit, or $17,772 before the 30% tax credit is applied.
These figures are just estimates, and how much solar costs for you may vary based on your specific situation and what company you choose to go with. With average savings of about $18,000 on power bills over 20 years, many homeowners in Granite Falls find going solar can be quite rewarding.
You can click the button below to get connected with a pre-vetted solar company in Granite Falls for a quote for your home.
Solar savings over time in Granite Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-11,112 |
| 3 years | $-8,478 |
| 5 years | $-5,845 |
| 7 years | $-3,212 |
| 9 years | $-579 |
| 11 years | $2,054 |
| 13 years | $4,688 |
| 15 years | $7,321 |
| 17 years | $9,954 |
| 19 years | $12,587 |
| 21 years | $15,220 |
| 23 years | $17,854 |
| 25 years | $20,487 |
Top Solar Installers in Granite Falls
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring an installer can make your swap to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Granite Falls
Factors that Affect Solar Panel Costs in Granite Falls
There are a number of 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 does the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Granite Falls, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Granite Falls, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can impact your pricing. Granite Falls' solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that provides the products, warranties and services you want and also is within your budget.
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 | $17,149 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,150 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,293 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $35,578 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $42,005 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,575 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $55,287 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $62,141 | 8.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers 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 choose.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
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 Granite Falls, NC Solar Cost FAQs
What is the average cost of installing solar panels in Granite Falls?
This is a tough 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Granite Falls?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Granite Falls have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can 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 install 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.