Solar Panel Cost Guide in Lenoir, NC (2024 Update)
- Lenoir Solar Installation Cost: $17,180
- 25-Year Savings: $15,873
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Lenoir
Let’s have a look at the average cost of solar in Lenoir.
Although the national average of solar panels is $2.66 per watt, solar panels in Lenoir generally cost about 4.The average Lenoir homeowner needs a 7.0-kilowatt system, which would cost about $17,180 with the federal tax credit, or $24,567 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you choose, your solar contractor and more.Many homeowners find going solar is a rewarding investment. The average homeowner in Lenoir can save around $18,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lenoir
| Year | Return on Investment |
|---|---|
| 1 years | $-15,858 |
| 3 years | $-13,214 |
| 5 years | $-10,570 |
| 7 years | $-7,925 |
| 9 years | $-5,281 |
| 11 years | $-2,637 |
| 13 years | $7 |
| 15 years | $2,652 |
| 17 years | $5,296 |
| 19 years | $7,940 |
| 21 years | $10,584 |
| 23 years | $13,229 |
| 25 years | $15,873 |
Top Solar Installers in Lenoir
When going solar, many homeowners opt to hire a solar installer since handling can be a time-consuming project. Another upside of utilizing a solar installer is that they can help you make the most of your investment by lowering your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Lenoir
Factors that Affect Solar Panel Costs in Lenoir
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Lenoir: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,510. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Lenoir offer solar loans, which reduce your upfront costs of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you select will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Some companies 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 find a company that has the products, warranties and services you want and also fits 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 | $3.65 | $15,332 | $12,921 | 13.6 years |
| 8 kW | $3.58 | $20,049 | $17,622 | 13.3 years |
| 10 kW | $3.51 | $24,570 | $22,518 | 13.0 years |
| 12 kW | $3.44 | $28,894 | $27,612 | 12.8 years |
| 14 kW | $3.37 | $33,022 | $32,902 | 12.5 years |
| 16 kW | $3.30 | $36,953 | $38,388 | 12.3 years |
| 18 kW | $3.23 | $40,688 | $44,071 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $49,951 | 11.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: The kind of solar panel you’d like to get plays a part in which installer you should opt for, since different companies have different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Lenoir, NC Solar Cost FAQs
What is the average cost of installing solar panels in Lenoir?
The average cost of solar panels in Lenoir is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Lenoir, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out how many solar panels 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.