Solar Panel Cost Guide in Lillington, NC (Dec 2022)

  • Lillington Solar Installation Cost: $12,357
  • 25-Year Savings: $21,927
  • Payback Period: 9.0 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Lillington

We break down average solar pricing in Lillington.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Lillington, the typical cost of a solar system is $3 per watt. Because a 7.0-kW system is needed to cover the energy consumption of a typical home in Lillington, the average price of going solar will be about $12,357 before claiming the federal solar tax credit of 30%.

These figures are just estimates, and how much solar costs for you may vary based on the amount of energy your home requires and what company you choose to go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $19,000 over 20 years on energy bills.

Click the button below to get connected to a vetted solar installer in your area for a personalized estimate.

Solar savings over time in Lillington

Year Return on Investment
1 years $-10,986
3 years $-8,243
5 years $-5,500
7 years $-2,758
9 years $-15
11 years $2,728
13 years $5,470
15 years $8,213
17 years $10,956
19 years $13,699
21 years $16,441
23 years $19,184
25 years $21,927

Top Solar Installers in Lillington

Many homeowners choose to use a solar installation company since installing solar panels on your own can be challenging. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.

If you're searching for a solar installer in Lillington, the EcoWatch team has put together a list of our top suggestions here:

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 Lillington

Factors that Affect Solar Panel Costs in Lillington

The cost of installing a solar system in Lillington can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment

When it comes to estimating the cost of solar panels in Lillington, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,540 for each additional kilowatt you need. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 raise the cost.

Solar Financing Terms

Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Lillington homeowners opt to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The last significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Lillington, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Lillington are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 $18,518 9.4 years
8 kW $2.59 $14,508 $24,976 9.2 years
10 kW $2.54 $17,780 $31,575 9.0 years
12 kW $2.49 $20,909 $38,317 8.8 years
14 kW $2.44 $23,896 $45,201 8.6 years
16 kW $2.39 $26,741 $52,227 8.5 years
18 kW $2.34 $29,444 $59,395 8.3 years
20 kW $2.29 $32,004 $66,706 8.1 years

How to Save on Solar Panels

There are a large number of companies available in Lillington, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:

  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
  • Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
  • Solar Panel Brands: Different companies have different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.

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 Lillington, NC Solar Cost FAQs

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

This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Lillington?

Leasing solar panels can be an attractive choice, as it commonly 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.

Is switching to solar power worth it?

Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.

How long do solar panels last in Lillington?

On average, solar panels can last 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 larger amount 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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