Solar Panel Cost Guide in Lenoir, NC (Feb 2023)

  • Lenoir Solar Installation Cost: $12,428
  • 25-Year Savings: $20,498
  • Payback Period: 9.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lenoir

We break down average solar pricing in Lenoir.

Although the national average of solar panels is $2.66 per watt, solar panels in Lenoir generally cost about $3. Using this figure, a typical 7.0 would cost about $12,428 before the 30% federal solar tax credit is applied.

These figures are just averages, and how much solar costs for you will look different based on the amount of energy your home requires and what company you go with. With typical savings of about $18,000 on energy bills over 20 years, many homeowners in Lenoir find installing solar panels can pay off big.

Click the button below to get connected to a reputable solar panel company in Lenoir for a customized quote.

Solar savings over time in Lenoir

Year Return on Investment
1 years $-11,111
3 years $-8,477
5 years $-5,843
7 years $-3,209
9 years $-575
11 years $2,059
13 years $4,693
15 years $7,327
17 years $9,961
19 years $12,596
21 years $15,230
23 years $17,864
25 years $20,498

Top Solar Installers in Lenoir

Although you can install solar panels yourself, it requires extra energy and know-how. For that reason, almost all homeowners choose to hire a solar panel installer. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can take advantage of and by offering warranties and repairs.

You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

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 major factors that affect your total cost 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

When it comes to estimating the cost of a solar energy system in Lenoir, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $2,540 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Lenoir average.

Solar Financing Terms

Many homeowners find the average cost of solar in Lenoir to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. However, the interest on solar loans also adds to your overall costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

A final factor to consider when trying to figure out the cost of solar for your home or business in Lenoir is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.

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 $17,158 9.8 years
8 kW $2.59 $14,508 $23,162 9.6 years
10 kW $2.54 $17,780 $29,308 9.4 years
12 kW $2.49 $20,909 $35,597 9.3 years
14 kW $2.44 $23,896 $42,027 9.1 years
16 kW $2.39 $26,741 $48,600 8.9 years
18 kW $2.34 $29,444 $55,315 8.7 years
20 kW $2.29 $32,004 $62,173 8.5 years

How to Save on Solar Panels

Since the model of solar panels and the installer you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
  • Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Lenoir, NC Solar Cost FAQs

How much does it cost to install solar panels in Lenoir?

The average cost of solar panels in Lenoir 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 things such as the kind of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Lenoir?

Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.

Can solar panels completely eradicate my electricity bills?

It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Lenoir, that will require at least a 10-kW system. Not all homes 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 long do solar panels last in Lenoir?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.

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.

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