Solar Panel Cost Guide in Lincolnton, NC (2023 Update)
- Lincolnton Solar Installation Cost: $12,162
- 25-Year Savings: $19,277
- Payback Period: 9.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lincolnton
Find out what the average cost of solar panel installation is in Lincolnton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lincolnton, the typical cost of a solar system is 2.54 per watt. Since a 6.8-kW system is needed to cover the energy needs of a typical home in Lincolnton, the average price of going solar will be about $12,162 after claiming the federal solar tax credit of 30%.
How much you pay can go higher or lower than the average in Lincolnton based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on energy bills.
To get a free estimate from a pre-vetted solar installer in Lincolnton, you can click the button below.
Solar savings over time in Lincolnton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,904 |
| 3 years | $-8,389 |
| 5 years | $-5,874 |
| 7 years | $-3,359 |
| 9 years | $-844 |
| 11 years | $1,672 |
| 13 years | $4,187 |
| 15 years | $6,702 |
| 17 years | $9,217 |
| 19 years | $11,732 |
| 21 years | $14,247 |
| 23 years | $16,762 |
| 25 years | $19,277 |
Top Solar Installers in Lincolnton
When going solar, many homeowners prefer to use a solar company since handling can be a difficult project. The expertise that solar companies offer can be useful as well, especially if you don't quite know what kind of solar equipment you need.
Working with a professional 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
See all of the solar companies in Lincolnton
Factors that Affect Solar Panel Costs in Lincolnton
For many Lincolnton homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Lincolnton, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,540 per kilowatt in Lincolnton. There are many different solar panel brands and the one you pick also changes the cost. In many cases, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Lincolnton to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Lincolnton is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that provide a range of services at different costs. Companies that 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 decide on the company that provides 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 | $2.64 | $11,095 | $16,475 | 10.1 years |
| 8 kW | $2.59 | $14,508 | $22,251 | 9.9 years |
| 10 kW | $2.54 | $17,780 | $28,170 | 9.7 years |
| 12 kW | $2.49 | $20,909 | $34,230 | 9.5 years |
| 14 kW | $2.44 | $23,896 | $40,433 | 9.3 years |
| 16 kW | $2.39 | $26,741 | $46,778 | 9.1 years |
| 18 kW | $2.34 | $29,444 | $53,266 | 8.9 years |
| 20 kW | $2.29 | $32,004 | $59,895 | 8.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: The brand of solar panel you want to get plays a part in which installer you should opt for, since different companies offer 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
EcoWatch's Lincolnton, NC Solar Cost FAQs
How much does it cost to install solar panels in Lincolnton?
This is a tough question to answer precisely, because the cost depends on many 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Lincolnton, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact 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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.