Solar Panel Cost Guide in Matthews, NC (2024 Update)
- Matthews Solar Installation Cost: $16,767
- 25-Year Savings: $19,937
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Matthews
Let’s have a look at the average cost of solar in Matthews.
The average cost of solar panels in Matthews is 4 per watt.Because a 6.8-kW system is needed to cover the energy consumption of a typical home in Matthews, the average price of going solar will be about $16,767 after claiming the federal solar tax credit of 0.
The true cost of your system can go above or below the average in Matthews based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Matthews see about $18,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar panel company in Matthews for a customized estimate.
Solar savings over time in Matthews
| Year | Return on Investment |
|---|---|
| 1 years | $-15,445 |
| 3 years | $-12,801 |
| 5 years | $-10,157 |
| 7 years | $-7,513 |
| 9 years | $-4,868 |
| 11 years | $-2,224 |
| 13 years | $420 |
| 15 years | $3,064 |
| 17 years | $5,709 |
| 19 years | $8,353 |
| 21 years | $10,997 |
| 23 years | $13,641 |
| 25 years | $16,286 |
Top Solar Installers in Matthews
Installing solar panels on your own can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. Local solar installers can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Matthews
Factors that Affect Solar Panel Costs in Matthews
There are a number of factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,510. The brand of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider 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
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Matthews, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can play a part in determining the cost. Matthews’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Matthews know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $12,865 | 13.6 years |
| 8 kW | $3.58 | $20,049 | $17,547 | 13.3 years |
| 10 kW | $3.51 | $24,570 | $22,425 | 13.1 years |
| 12 kW | $3.44 | $28,894 | $27,499 | 12.8 years |
| 14 kW | $3.37 | $33,022 | $32,771 | 12.5 years |
| 16 kW | $3.30 | $36,953 | $38,238 | 12.3 years |
| 18 kW | $3.23 | $40,688 | $43,903 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $49,764 | 11.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Matthews, NC Solar Cost FAQs
What is the average cost of installing solar panels in Matthews?
The average cost of solar panels in Matthews is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Matthews?
Solar panels aren’t free in Matthews, 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 can help lower the cost.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.