Solar Panel Cost Guide in Huntersville, NC (Feb 2023)
- Huntersville Solar Installation Cost: $12,126
- 25-Year Savings: $19,289
- Payback Period: 9.7 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Huntersville
Find out what the average cost of solar panels are in Huntersville.
The national average cost of solar panels is $2.66 per watt, but in Huntersville it's $3 per watt. The average solar panel system size in Huntersville is around 6.8 kilowatts, meaning a cost of about $12,126 for a solar installation, or $8,973 after the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what installation company you go with. For many homeowners, the upfront cost of solar is worth paying. On average Huntersville homeowners see about $17,000 in savings on electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Huntersville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,869 |
| 3 years | $-8,356 |
| 5 years | $-5,843 |
| 7 years | $-3,330 |
| 9 years | $-816 |
| 11 years | $1,697 |
| 13 years | $4,210 |
| 15 years | $6,723 |
| 17 years | $9,236 |
| 19 years | $11,750 |
| 21 years | $14,263 |
| 23 years | $16,776 |
| 25 years | $19,289 |
Top Solar Installers in Huntersville
Many homeowners opt for a solar panel company since figuring out how to install solar panels yourself can be challenging. Plus, if you're unsure what brand of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar installer in Huntersville, we've organized 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 Huntersville
Factors that Affect Solar Panel Costs in Huntersville
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Huntersville: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Huntersville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,540 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Huntersville to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Huntersville have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $16,525 | 10.0 years |
| 8 kW | $2.59 | $14,508 | $22,318 | 9.8 years |
| 10 kW | $2.54 | $17,780 | $28,254 | 9.7 years |
| 12 kW | $2.49 | $20,909 | $34,331 | 9.5 years |
| 14 kW | $2.44 | $23,896 | $40,551 | 9.3 years |
| 16 kW | $2.39 | $26,741 | $46,913 | 9.1 years |
| 18 kW | $2.34 | $29,444 | $53,417 | 8.9 years |
| 20 kW | $2.29 | $32,004 | $60,063 | 8.7 years |
How to Save on Solar Panels
The solar company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Contract: Read the contract terms carefully to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The model of solar panel you want plays a role in which company you should choose, since different companies offer different panels.
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 Huntersville, NC Solar Cost FAQs
How much does it cost to install solar panels in Huntersville?
This is a difficult question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Huntersville?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 savings from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.