Solar Panel Cost Guide in Leland, NC (Mar 2023)
- Leland Solar Installation Cost: $11,379
- 25-Year Savings: $22,010
- Payback Period: 8.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Leland
We break down average solar pricing in Leland.
In Leland, solar panels cost about 2.54 per watt on average. Using this figure, a typical 6.4-kW system would cost about $11,379 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Leland homeowner. The cost 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 upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $20,000 over 20 years on power bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Leland
| Year | Return on Investment |
|---|---|
| 1 years | $-10,044 |
| 3 years | $-7,373 |
| 5 years | $-4,701 |
| 7 years | $-2,030 |
| 9 years | $641 |
| 11 years | $3,312 |
| 13 years | $5,983 |
| 15 years | $8,654 |
| 17 years | $11,325 |
| 19 years | $13,996 |
| 21 years | $16,668 |
| 23 years | $19,339 |
| 25 years | $22,010 |
Top Solar Installers in Leland
Although it's possible to install solar panels yourself, it requires extra energy and knowledge. Because of that, the majority of homeowners choose a solar panel installer. Another advantage of utilizing a solar installer is that they can help you optimize your ROI by bringing down your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our suggestions for providers in Leland:
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 Leland
Factors that Affect Solar Panel Costs in Leland
The cost of installing a solar system in Leland can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Leland, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,540 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think 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 into a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Leland offer solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also adds to your overall costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can play a part in determining how much you pay. Leland's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Leland are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $20,225 | 8.9 years |
| 8 kW | $2.59 | $14,508 | $27,251 | 8.7 years |
| 10 kW | $2.54 | $17,780 | $34,419 | 8.5 years |
| 12 kW | $2.49 | $20,909 | $41,729 | 8.3 years |
| 14 kW | $2.44 | $23,896 | $49,182 | 8.2 years |
| 16 kW | $2.39 | $26,741 | $56,777 | 8.0 years |
| 18 kW | $2.34 | $29,444 | $64,514 | 7.8 years |
| 20 kW | $2.29 | $32,004 | $72,394 | 7.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: If you care about the durability of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Leland, NC Solar Cost FAQs
How much does it cost to install solar panels in Leland?
The average cost of solar panels in Leland is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Leland?
Leasing solar panels can be an appealing choice, as it typically 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 way to go if you want to get the most savings.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
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 uses 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 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.