Solar Panel Cost Guide in Locust, NC (2024 Update)
- Locust Solar Installation Cost: $16,802
- 25-Year Savings: $19,913
- Payback Period: 13.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Locust
Find out what the average cost of installing solar panels is in Locust.
In Locust, solar panels cost about 4 per watt on average.The average solar panel system size in Locust is around 6.8 kilowatts, meaning a cost of about $16,802 for a solar installation, or $24,027 before the 0 federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you may look different based on your energy needs and what company you go with.Many homeowners find installing solar panels is a sound investment. The average homeowner in Locust can save about $18,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Locust
| Year | Return on Investment |
|---|---|
| 1 years | $-15,479 |
| 3 years | $-12,835 |
| 5 years | $-10,191 |
| 7 years | $-7,547 |
| 9 years | $-4,902 |
| 11 years | $-2,258 |
| 13 years | $386 |
| 15 years | $3,030 |
| 17 years | $5,675 |
| 19 years | $8,319 |
| 21 years | $10,963 |
| 23 years | $13,607 |
| 25 years | $16,252 |
Top Solar Installers in Locust
Trying to install solar panels on your own can be a stressful undertaking, which is why getting a solar installer is a good option for many homeowners. The expertise that solar companies offer can be useful as well, particularly if you aren’t sure what kind of solar equipment you need.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Locust
Factors that Affect Solar Panel Costs in Locust
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Locust: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of solar panels in Locust, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by around $3,510 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 get 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 power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Locust average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Locust homeowners choose to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s vital to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Locust, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $12,808 | 13.6 years |
| 8 kW | $3.58 | $20,049 | $17,470 | 13.4 years |
| 10 kW | $3.51 | $24,570 | $22,329 | 13.1 years |
| 12 kW | $3.44 | $28,894 | $27,385 | 12.8 years |
| 14 kW | $3.37 | $33,022 | $32,637 | 12.6 years |
| 16 kW | $3.30 | $36,953 | $38,086 | 12.3 years |
| 18 kW | $3.23 | $40,688 | $43,731 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $49,573 | 11.8 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 picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Warranty: If you’re concerned about the endurance of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: The type of solar panel you’d like plays a role in which installer you should choose, 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
EcoWatch's Locust, NC Solar Cost FAQs
How much does it cost to install solar panels in Locust?
The average cost of solar panels in Locust 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Locust?
Leasing solar panels can be an appealing choice, because it usually 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
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.