Solar Panel Cost Guide in Louisburg, NC (2023 Update)
- Louisburg Solar Installation Cost: $12,535
- 25-Year Savings: $23,802
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Louisburg
We break down average solar pricing in Louisburg.
Although the national average of solar panels is $2.66 per watt, solar panels in Louisburg typically cost about 2.54. The average Louisburg homeowner needs a 7.0-kilowatt system, which would cost about $12,535 with the federal tax credit, or $17,925 before the 30% 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 use, the type of solar panels you want to get, your solar contractor and more. With average savings of about $20,000 on energy bills over 20 years, many homeowners in Louisburg find going solar can be quite rewarding.
Click the button below to get connected to a top solar installer in Louisburg for a personalized quote.
Solar savings over time in Louisburg
| Year | Return on Investment |
|---|---|
| 1 years | $-11,081 |
| 3 years | $-8,175 |
| 5 years | $-5,268 |
| 7 years | $-2,361 |
| 9 years | $546 |
| 11 years | $3,453 |
| 13 years | $6,360 |
| 15 years | $9,267 |
| 17 years | $12,174 |
| 19 years | $15,081 |
| 21 years | $17,988 |
| 23 years | $20,895 |
| 25 years | $23,802 |
Top Solar Installers in Louisburg
Many homeowners decide to hire a solar panel company since trying to put up solar panels on your own can be challenging. The expertise that solar companies provide can be helpful as well, especially if you aren't sure what kind of solar equipment you need.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Louisburg:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Louisburg
Factors that Affect Solar Panel Costs in Louisburg
Even though the average cost of a solar system in Louisburg is $12,535, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,540. The type of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Louisburg to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Louisburg is the company you choose to install your PV system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different costs. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $19,824 | 9.0 years |
| 8 kW | $2.59 | $14,508 | $26,716 | 8.8 years |
| 10 kW | $2.54 | $17,780 | $33,751 | 8.6 years |
| 12 kW | $2.49 | $20,909 | $40,928 | 8.5 years |
| 14 kW | $2.44 | $23,896 | $48,247 | 8.3 years |
| 16 kW | $2.39 | $26,741 | $55,709 | 8.1 years |
| 18 kW | $2.34 | $29,444 | $63,312 | 7.9 years |
| 20 kW | $2.29 | $32,004 | $71,058 | 7.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Louisburg, NC Solar Cost FAQs
What is the average cost of installing solar panels in Louisburg?
The average cost of solar panels in Louisburg 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Louisburg?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The drawback 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 option if you want to maximize your savings.
How will solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Louisburg is currently $132,200, so you can expect a value of about $5,420 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Louisburg is a worthwhile investment.
How often do you have to replace solar panels?
Even 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 once you've had 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.