Solar Panel Cost Guide in Marion, NC (2023 Update)
- Marion Solar Installation Cost: $12,304
- 25-Year Savings: $20,091
- Payback Period: 9.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Marion
See how much it might cost to go solar in Marion.
Although the national average of solar panels is $2.66 per watt, solar panels in Marion generally cost around 2.54. To account for the typical energy needs of the average home in Marion, most homeowners require a 6.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,304, or $17,595 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more. For most homeowners, the upfront investment in solar panels is worth paying. On average Marion homeowners see about $18,000 in savings on electricity bills over 20 years.
To receive a free quote from a vetted solar installer in Marion, you can click the button below.
Solar savings over time in Marion
| Year | Return on Investment |
|---|---|
| 1 years | $-11,008 |
| 3 years | $-8,416 |
| 5 years | $-5,825 |
| 7 years | $-3,233 |
| 9 years | $-642 |
| 11 years | $1,950 |
| 13 years | $4,542 |
| 15 years | $7,133 |
| 17 years | $9,725 |
| 19 years | $12,316 |
| 21 years | $14,908 |
| 23 years | $17,500 |
| 25 years | $20,091 |
Top Solar Installers in Marion
When switching to solar energy, many homeowners opt to hire a solar installation company since putting up a solar system yourself can be a difficult project. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for your home.
If you're on the hunt for a solar company in Marion, we've put together a list of our top suggestions here:
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 Marion
Factors that Affect Solar Panel Costs in Marion
For many Marion homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Marion, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in Marion, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $2,540 for each additional kilowatt you need. The brand of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Marion to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Marion 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 offer a range of services at different price points. You may notice national solar installers that have lower prices because of their larger 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 | $16,996 | 9.9 years |
| 8 kW | $2.59 | $14,508 | $22,946 | 9.7 years |
| 10 kW | $2.54 | $17,780 | $29,039 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,273 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,650 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,169 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $54,830 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $61,633 | 8.5 years |
How to Save on Solar Panels
There are numerous companies to choose from in Marion, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
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 Marion, NC Solar Cost FAQs
How much does it cost to install solar panels in Marion?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Marion?
You can't get solar panels for free in Marion. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 buy between 20 and 35 panels to account for 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.