Solar Panel Cost Guide in Granite Quarry, NC (Mar 2023)
- Granite Quarry Solar Installation Cost: $12,215
- 25-Year Savings: $19,154
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Granite Quarry
Find out what the average cost of installing solar panels is in Granite Quarry.
The national average cost of solar panels is $2.66 per watt, but in Granite Quarry it's 2.54 per watt. To cover the typical energy needs of the average home in Granite Quarry, most homeowners require a 6.9-kilowatt system. Using the figure above, a solar installation costs around $12,215, or $17,467 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy usage and what company you go with. For most homeowners, the upfront investment in solar panels is worth paying. On average Granite Quarry homeowners see about $17,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar company in Granite Quarry for a quote for your home.
Solar savings over time in Granite Quarry
| Year | Return on Investment |
|---|---|
| 1 years | $-10,960 |
| 3 years | $-8,451 |
| 5 years | $-5,941 |
| 7 years | $-3,431 |
| 9 years | $-922 |
| 11 years | $1,588 |
| 13 years | $4,097 |
| 15 years | $6,607 |
| 17 years | $9,116 |
| 19 years | $11,626 |
| 21 years | $14,135 |
| 23 years | $16,645 |
| 25 years | $19,154 |
Top Solar Installers in Granite Quarry
Many homeowners opt for a solar panel company since trying to install solar panels on your own can be time-consuming. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Granite Quarry
Factors that Affect Solar Panel Costs in Granite Quarry
The cost of installing a solar system in Granite Quarry can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 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 extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Granite Quarry, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Granite Quarry is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that has the products, warranties and services you want and also fit into 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 | $16,300 | 10.1 years |
| 8 kW | $2.59 | $14,508 | $22,018 | 9.9 years |
| 10 kW | $2.54 | $17,780 | $27,878 | 9.7 years |
| 12 kW | $2.49 | $20,909 | $33,880 | 9.5 years |
| 14 kW | $2.44 | $23,896 | $40,025 | 9.3 years |
| 16 kW | $2.39 | $26,741 | $46,312 | 9.2 years |
| 18 kW | $2.34 | $29,444 | $52,741 | 9.0 years |
| 20 kW | $2.29 | $32,004 | $59,312 | 8.8 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good 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 Granite Quarry, NC Solar Cost FAQs
What is the average cost of installing solar panels in Granite Quarry?
The average cost of solar panels in Granite Quarry 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Granite Quarry?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside 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 option if you want to maximize your savings.
Is switching to solar power worth it?
Solar panels can be a great 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 electricity bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 buy 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.