Solar Panel Cost Guide in Lillington, NC (2024 Update)
- Lillington Solar Installation Cost: $17,067
- 25-Year Savings: $21,933
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Lillington
Let’s have a look at the average cost of solar panels in Lillington.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lillington, the average cost of a solar system is 4 per watt.Using this figure, a typical 6.9-kW system would cost about $17,067 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $19,000 over 20 years on utility bills.
Click the button below to get connected to a highly rated solar panel company in Lillington for a personalized estimate.
Solar savings over time in Lillington
| Year | Return on Investment |
|---|---|
| 1 years | $-15,596 |
| 3 years | $-12,654 |
| 5 years | $-9,712 |
| 7 years | $-6,769 |
| 9 years | $-3,827 |
| 11 years | $-885 |
| 13 years | $2,057 |
| 15 years | $4,999 |
| 17 years | $7,941 |
| 19 years | $10,884 |
| 21 years | $13,826 |
| 23 years | $16,768 |
| 25 years | $19,710 |
Top Solar Installers in Lillington
Many homeowners opt for a solar panel installer since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. The expertise that solar companies offer can be invaluable as well, particularly if you don’t quite know what kind of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Lillington
Factors that Affect Solar Panel Costs in Lillington
For many Lillington homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Lillington, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.The brand and kind of equipment you choose for your solar system can raise or lower 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Lillington provide solar loans, which reduce the initial cost of installing a solar system.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The last key 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 various price points for labor and equipment.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 promotions to compete with those major players.
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 | $14,281 | 12.9 years |
| 8 kW | $3.58 | $20,049 | $19,435 | 12.7 years |
| 10 kW | $3.51 | $24,570 | $24,785 | 12.4 years |
| 12 kW | $3.44 | $28,894 | $30,332 | 12.2 years |
| 14 kW | $3.37 | $33,022 | $36,075 | 11.9 years |
| 16 kW | $3.30 | $36,953 | $42,015 | 11.7 years |
| 18 kW | $3.23 | $40,688 | $48,151 | 11.4 years |
| 20 kW | $3.16 | $44,226 | $54,484 | 11.2 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. Since selecting a company can be difficult, 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 good reviews from past customers.
- Contract: When looking 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 like a system component breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Lillington, NC Solar Cost FAQs
How much does it cost to install solar panels in Lillington?
This is a tough question to answer precisely, 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Lillington, 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 contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Lillington?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.