Solar Panel Cost Guide in Locust, NC (2023 Update)
- Locust Solar Installation Cost: $12,158
- 25-Year Savings: $19,913
- Payback Period: 9.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Locust
Let's have a look at the average cost of solar panels in Locust.
Although the national average of solar panels is $2.66 per watt, solar panels in Locust typically cost about 2.54. The average Locust homeowner needs a 6.8-kilowatt system, which would cost about $12,162 with the federal tax credit, or $17,392 before the 30% tax credit is applied.
How much you pay can go higher or lower than the average in Locust depending on several factors, such as the brand of solar panels you choose and the solar contractor you hire. Even with the significant initial cost, the average Locust homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Locust
| Year | Return on Investment |
|---|---|
| 1 years | $-12,051 |
| 3 years | $-11,838 |
| 5 years | $-11,624 |
| 7 years | $-11,410 |
| 9 years | $-11,196 |
| 11 years | $-10,982 |
| 13 years | $-10,769 |
| 15 years | $-10,555 |
| 17 years | $-10,341 |
| 19 years | $-10,127 |
| 21 years | $-9,913 |
| 23 years | $-9,700 |
| 25 years | $-9,486 |
Top Solar Installers in Locust
Although it's possible to install solar panels by yourself, it takes extra effort and handiness. For that reason, the majority of homeowners choose a solar panel installer. Plus, if you're unsure what type of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on how much solar panels 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
See all of the solar companies in Locust
Factors that Affect Solar Panel Costs in Locust
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Locust: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,540 per kilowatt in Locust. There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Locust homeowners decide to finance their solar panel systems to make paying for solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating in Locust, and each can charge different amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to 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 | $17,045 | 9.9 years |
| 8 kW | $2.59 | $14,508 | $23,011 | 9.7 years |
| 10 kW | $2.54 | $17,780 | $29,119 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,370 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,763 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,298 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $54,975 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $61,795 | 8.5 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
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 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 $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 certain factors 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 Locust?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Locust?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 continue to use 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.