Solar Panel Cost Guide in Hickory, NC (Jan 2023)
- Hickory Solar Installation Cost: $12,322
- 25-Year Savings: $20,270
- Payback Period: 9.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated January 20, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Hickory
See how much it might cost to make the switch to solar in Hickory.
In Hickory, solar panels cost about $3 per watt on average. Using this figure, a typical 6.9 would cost about $12,322 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Hickory can save around $18,000 on their power bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Hickory
| Year | Return on Investment |
|---|---|
| 1 years | $-11,018 |
| 3 years | $-8,411 |
| 5 years | $-5,803 |
| 7 years | $-3,196 |
| 9 years | $-589 |
| 11 years | $2,019 |
| 13 years | $4,626 |
| 15 years | $7,234 |
| 17 years | $9,841 |
| 19 years | $12,448 |
| 21 years | $15,056 |
| 23 years | $17,663 |
| 25 years | $20,270 |
Top Solar Installers in Hickory
Installing solar panels on your own can be a stressful task, which is why getting a solar installer is a good option for many homeowners. Plus, if you're unsure what kind of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
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 Hickory
Factors that Affect Solar Panel Costs in Hickory
There are several criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 spend around $2,540 per kilowatt in Hickory. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Hickory, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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 available from most installers in Hickory, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. It's wise to add 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
The solar installation company you pick will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. 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 with an above-average cost. It's best to do some research and go with the 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 | $17,120 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,111 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,245 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,520 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,938 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,499 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $55,201 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $62,046 | 8.5 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Contract: Read the contract terms thoroughly to make sure you understand the overall cost, completion timeline incentives and warranties.
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 Hickory, NC Solar Cost FAQs
What is the average cost of installing solar panels in Hickory?
This is a difficult question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $940.50 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.