Solar Panel Cost Guide in Hickory, NC (2025 Update)
- Hickory Solar Installation Cost: $17,029
- 25-Year Savings: $20,269
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Hickory
Let’s have a look at the average cost of solar in Hickory.
Although the national average of solar panels is $2.66 per watt, solar panels in Hickory generally cost about 4.Because a 6.9-kW system is needed to cover the energy costs of a typical home in Hickory, the average price of going solar will be about $17,029 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Hickory homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on power bills.
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Solar savings over time in Hickory
Year | Return on Investment |
---|---|
1 years | $-15,707 |
3 years | $-13,062 |
5 years | $-10,418 |
7 years | $-7,774 |
9 years | $-5,130 |
11 years | $-2,485 |
13 years | $159 |
15 years | $2,803 |
17 years | $5,447 |
19 years | $8,092 |
21 years | $10,736 |
23 years | $13,380 |
25 years | $16,024 |
Top Solar Installers in Hickory
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with a solar panel installer can make your switch to solar power much easier. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for you.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Hickory
Factors that Affect Solar Panel Costs in Hickory
Even though the average cost of a solar system in Hickory is $17,029, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.The model of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.While solar loans make going solar more accessible for Hickory homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Hickory, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that has the products, warranties and services you’re looking for 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 | $3.65 | $15,332 | $12,883 | 13.6 years |
8 kW | $3.58 | $20,049 | $17,571 | 13.3 years |
10 kW | $3.51 | $24,570 | $22,455 | 13.1 years |
12 kW | $3.44 | $28,894 | $27,535 | 12.8 years |
14 kW | $3.37 | $33,022 | $32,813 | 12.5 years |
16 kW | $3.30 | $36,953 | $38,286 | 12.3 years |
18 kW | $3.23 | $40,688 | $43,957 | 12.0 years |
20 kW | $3.16 | $44,226 | $49,824 | 11.8 years |
How to Save on Solar Panels
There are many companies to choose from in Hickory, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Hickory, NC Solar Cost FAQs
What is the average cost of installing solar panels in Hickory?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Hickory?
You can’t get solar panels for free in Hickory. However, you may still be able to get 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.
Is it worth going solar in Hickory?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.