Solar Panel Cost Guide in Marvin, NC (2023 Update)
- Marvin Solar Installation Cost: $12,054
- 25-Year Savings: $20,024
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Marvin
Find out what the average cost of a solar system is in Marvin.
The average cost of solar panels in Marvin is 2.54 per watt. Because a 6.8-kW system is needed to cover the energy consumption of a typical home in Marvin, the average price of going solar will be about $12,055 after claiming the federal solar tax credit of 30%.
The actual price you pay can be above or below the average in Marvin based on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. With average savings of about $18,000 on energy bills over 20 years, many homeowners in Marvin find investing in solar can pay off big.
To get a free estimate from a highly rated solar company in Marvin, you can click the button below.
Solar savings over time in Marvin
| Year | Return on Investment |
|---|---|
| 1 years | $-11,947 |
| 3 years | $-11,733 |
| 5 years | $-11,519 |
| 7 years | $-11,306 |
| 9 years | $-11,092 |
| 11 years | $-10,878 |
| 13 years | $-10,664 |
| 15 years | $-10,450 |
| 17 years | $-10,236 |
| 19 years | $-10,022 |
| 21 years | $-9,809 |
| 23 years | $-9,595 |
| 25 years | $-9,381 |
Top Solar Installers in Marvin
Although it's possible to install solar panels by yourself, it requires extra effort and handiness. For that reason, almost all homeowners choose a solar panel installer. Another advantage of utilizing a solar company is that they can help you maximize your investment by bringing down your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Marvin
Factors that Affect Solar Panel Costs in Marvin
The cost of installing a solar system in Marvin can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Marvin average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the massive popularity of clean energy solutions in Marvin, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. The company's size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access 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 promotion 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 | $17,295 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,344 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,536 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $35,870 | 9.2 years |
| 14 kW | $2.44 | $23,896 | $42,346 | 9.0 years |
| 16 kW | $2.39 | $26,741 | $48,965 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $55,725 | 8.6 years |
| 20 kW | $2.29 | $32,004 | $62,628 | 8.5 years |
How to Save on Solar Panels
The solar company you go with will affect 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 keep in mind, such as:
- Solar Panel Brands: The type of solar panel you want to get plays a part in which company you should choose, since different companies have different panels.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Marvin, NC Solar Cost FAQs
What is the average cost of installing solar panels in Marvin?
The average cost of solar panels in Marvin 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 like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Marvin?
Solar panels aren't free in Marvin, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Marvin have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 the amount of 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.