Solar Panel Cost Guide in Maiden, NC (2023 Update)
- Maiden Solar Installation Cost: $12,179
- 25-Year Savings: $19,831
- Payback Period: 9.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Maiden
Let's have a look at the average cost of solar panels in Maiden.
The average cost of a solar system in Maiden is 2.54 per watt. To account for the typical energy usage of the average home in Maiden, most homeowners require a 6.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,179, or $17,416 before the federal solar tax credit of 30% is applied.
The true cost of your system can go above or below the average in Maiden depending on several factors, such as the brand of solar panels you choose and the solar company you hire. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Maiden can save around $18,000 on their electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Maiden
| Year | Return on Investment |
|---|---|
| 1 years | $-10,899 |
| 3 years | $-8,338 |
| 5 years | $-5,777 |
| 7 years | $-3,216 |
| 9 years | $-656 |
| 11 years | $1,905 |
| 13 years | $4,466 |
| 15 years | $7,027 |
| 17 years | $9,588 |
| 19 years | $12,148 |
| 21 years | $14,709 |
| 23 years | $17,270 |
| 25 years | $19,831 |
Top Solar Installers in Maiden
Although it's possible to install solar panels yourself, it requires extra effort and expertise. That's one of the reasons most homeowners choose to go with a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you choose which one will be right for you.
Working with a licensed solar installer 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 Maiden
Factors that Affect Solar Panel Costs in Maiden
Even though the average cost of a solar system in Maiden is $12,179, your final cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Maiden, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can influence the cost. Maiden's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also fit into 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 | $16,946 | 9.9 years |
| 8 kW | $2.59 | $14,508 | $22,879 | 9.7 years |
| 10 kW | $2.54 | $17,780 | $28,954 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,172 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,532 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,034 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $54,678 | 8.8 years |
| 20 kW | $2.29 | $32,004 | $61,464 | 8.6 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: Long-running companies likely have a good 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.
- Contract: Before signing a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Maiden, NC Solar Cost FAQs
How much does it cost to install solar panels in Maiden?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Maiden?
Leasing solar panels can be an appealing choice, as it often 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 way to go if you want to maximize your savings.
Does Maiden have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.