Solar Panel Cost Guide in Mar Mac, NC (Feb 2023)
- Mar Mac Solar Installation Cost: $12,446
- 25-Year Savings: $18,317
- Payback Period: 10.1 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Mar Mac
Let's take a look at the average cost of solar in Mar Mac.
In Mar Mac, solar panels cost about $3 per watt on average. The average Mar Mac homeowner needs a 7.0-kilowatt system, which would cost about $12,446, or $9,210 after the federal solar tax credit of 30% is applied.
These figures are only averages, and your own solar costs will most likely differ based on your specific situation and what company you choose to go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Mar Mac can save about $17,000 on their energy bills over 20 years.
To receive a free quote from a highly rated solar installer in Mar Mac, you can click the button below.
Solar savings over time in Mar Mac
| Year | Return on Investment |
|---|---|
| 1 years | $-11,215 |
| 3 years | $-8,754 |
| 5 years | $-6,293 |
| 7 years | $-3,832 |
| 9 years | $-1,371 |
| 11 years | $1,090 |
| 13 years | $3,551 |
| 15 years | $6,012 |
| 17 years | $8,473 |
| 19 years | $10,934 |
| 21 years | $13,395 |
| 23 years | $15,856 |
| 25 years | $18,317 |
Top Solar Installers in Mar Mac
Installing solar panels by yourself can be a challenging project, which is why getting a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Mar Mac
Factors that Affect Solar Panel Costs in Mar Mac
Even though the average cost of a solar system in Mar Mac is $12,446, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar system in Mar Mac, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,540 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Mar Mac, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Mar Mac, which can reduce, or in some cases completely eliminate, your upfront costs to make 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 sometimes even your APR by putting more money down.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Mar Mac, you'll have many options to choose from, but each comes at different price points for labor and equipment. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $15,291 | 10.5 years |
| 8 kW | $2.59 | $14,508 | $20,672 | 10.3 years |
| 10 kW | $2.54 | $17,780 | $26,196 | 10.1 years |
| 12 kW | $2.49 | $20,909 | $31,862 | 9.9 years |
| 14 kW | $2.44 | $23,896 | $37,670 | 9.7 years |
| 16 kW | $2.39 | $26,741 | $43,620 | 9.5 years |
| 18 kW | $2.34 | $29,444 | $49,713 | 9.3 years |
| 20 kW | $2.29 | $32,004 | $55,948 | 9.1 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 select the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
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 Mar Mac, NC Solar Cost FAQs
How much does it cost to install solar panels in Mar Mac?
The average cost of solar panels in Mar Mac is about $12,700 for a 5-kW system and $25,400 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 use.
Should I lease or buy solar panels in Mar Mac?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 financial benefits from going solar.
Is it worth going solar in Mar Mac?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Mar Mac?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.