Solar Panel Cost Guide in Leland, NC (2024 Update)
- Leland Solar Installation Cost: $15,716
- 25-Year Savings: $22,016
- Payback Period: 11.8 Years
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Average Cost of Solar Panels in Leland
Let’s have a look at the average cost of solar panels in Leland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Leland, the typical cost of solar panels is 4 per watt.Since a 6.4-kW system is needed to cover the energy usage of a typical home in Leland, the average price of going solar will be about $15,716 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what company you go with.But, once you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $20,000 over 20 years on energy bills.
Click the button below to get connected to a reputable solar installer in Leland for a custom estimate.
Solar savings over time in Leland
| Year | Return on Investment |
|---|---|
| 1 years | $-14,245 |
| 3 years | $-11,303 |
| 5 years | $-8,361 |
| 7 years | $-5,418 |
| 9 years | $-2,476 |
| 11 years | $466 |
| 13 years | $3,408 |
| 15 years | $6,350 |
| 17 years | $9,293 |
| 19 years | $12,235 |
| 21 years | $15,177 |
| 23 years | $18,119 |
| 25 years | $21,061 |
Top Solar Installers in Leland
Installing solar panels by yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. Another good thing about choosing a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
Working with a licensed solar company can help your solar project go smoothly. 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 Leland
Factors that Affect Solar Panel Costs in Leland
Even though the average cost of a solar system in Leland is $15,716, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Leland, where sunlight is abundant, efficiency can quickly pay off. Plus, 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
If paying for a solar system in cash is too expensive, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.Although solar loans make adopting solar energy more accessible for Leland homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installer you pick will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $15,988 | 12.2 years |
| 8 kW | $3.58 | $20,049 | $21,710 | 12.0 years |
| 10 kW | $3.51 | $24,570 | $27,629 | 11.8 years |
| 12 kW | $3.44 | $28,894 | $33,744 | 11.5 years |
| 14 kW | $3.37 | $33,022 | $40,056 | 11.3 years |
| 16 kW | $3.30 | $36,953 | $46,565 | 11.1 years |
| 18 kW | $3.23 | $40,688 | $53,270 | 10.8 years |
| 20 kW | $3.16 | $44,226 | $60,172 | 10.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: The brand of solar panel you’d like to get plays a part in which installer you should choose, since different companies have access to different panels.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Leland, NC Solar Cost FAQs
How much does it cost to install solar panels in Leland?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Leland?
Leasing solar panels can be an option if you can’t 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 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 bang for your buck from going solar.
How will having solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Leland is currently $382,451, which means you can look forward to a value of about $15,680 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Leland is a rewarding investment.
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 should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.