Solar Panel Cost Guide in Henderson, NC (Feb 2023)
- Henderson Solar Installation Cost: $12,517
- 25-Year Savings: $22,334
- Payback Period: 9.0 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Henderson
We go over average solar pricing in Henderson.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Henderson, the average cost of solar panels is $3 per watt. Since a 7.0-kW system is needed to cover the energy costs of a typical home in Henderson, the average price of going solar will be about $12,517 before claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar panels you choose, your solar contractor and more. Many homeowners find adopting solar power is a sound investment. The average homeowner in Henderson can save about $19,000 on their electricity bills over 20 years.
To receive a free estimate from a highly rated solar installer in Henderson, you can click the button below.
Solar savings over time in Henderson
| Year | Return on Investment |
|---|---|
| 1 years | $-11,123 |
| 3 years | $-8,335 |
| 5 years | $-5,547 |
| 7 years | $-2,759 |
| 9 years | $29 |
| 11 years | $2,817 |
| 13 years | $5,606 |
| 15 years | $8,394 |
| 17 years | $11,182 |
| 19 years | $13,970 |
| 21 years | $16,758 |
| 23 years | $19,546 |
| 25 years | $22,334 |
Top Solar Installers in Henderson
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make your swap to solar power much easier. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for you.
If you're on the hunt for a solar company in Henderson, we've put together 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 (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 Henderson
Factors that Affect Solar Panel Costs in Henderson
The cost of installing a solar system in Henderson can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,540. There are many different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Henderson have solar loans, which reduce the initial cost of installing solar. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Henderson is the company you hire to install your PV system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Henderson 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 | $18,600 | 9.3 years |
| 8 kW | $2.59 | $14,508 | $25,084 | 9.2 years |
| 10 kW | $2.54 | $17,780 | $31,711 | 9.0 years |
| 12 kW | $2.49 | $20,909 | $38,480 | 8.8 years |
| 14 kW | $2.44 | $23,896 | $45,391 | 8.6 years |
| 16 kW | $2.39 | $26,741 | $52,445 | 8.4 years |
| 18 kW | $2.34 | $29,444 | $59,640 | 8.3 years |
| 20 kW | $2.29 | $32,004 | $66,978 | 8.1 years |
How to Save on Solar Panels
There are a lot of companies available in Henderson, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two 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 good reviews from previous customers.
- Installation Process: When making the switch to solar power, it's important to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project completion timeline.
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 Henderson, NC Solar Cost FAQs
How much does it cost to install solar panels in Henderson?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly 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 higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Henderson?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 financial benefits from going solar.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Henderson, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 amount 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.