Solar Panel Cost Guide in Mint Hill, NC (2023 Update)
- Mint Hill Solar Installation Cost: $12,094
- 25-Year Savings: $19,977
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mint Hill
We break down average solar pricing in Mint Hill.
Although the national average of solar panels is $2.66 per watt, solar panels in Mint Hill generally cost around 2.54. Since a 6.8-kW system is needed to cover the energy needs of a typical home in Mint Hill, the average price of going solar will be about $12,090 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Mint Hill homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the significant upfront cost, the average Mint Hill homeowner can save around $18,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar installer in Mint Hill for a quote for your home.
Solar savings over time in Mint Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-11,987 |
| 3 years | $-11,773 |
| 5 years | $-11,559 |
| 7 years | $-11,345 |
| 9 years | $-11,132 |
| 11 years | $-10,918 |
| 13 years | $-10,704 |
| 15 years | $-10,490 |
| 17 years | $-10,276 |
| 19 years | $-10,063 |
| 21 years | $-9,849 |
| 23 years | $-9,635 |
| 25 years | $-9,421 |
Top Solar Installers in Mint Hill
Although it's possible to install solar panels on your own, it takes extra effort and expertise. That's one of the reasons most people choose to hire a solar panel installer. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy usage, but going with a solar company can shorten it. Your provider will be able to help you identify incentives available in your area.
If you're on the hunt for a solar company in Mint Hill, we've compiled 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 Mint Hill
Factors that Affect Solar Panel Costs in Mint Hill
There are many factors that can affect your total 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 cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Mint Hill, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. 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 difficult. Solar loans are available from most installers in Mint Hill, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, 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 more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Mint Hill is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for instance, you'll have many options for solar installers that provide a range of services at different costs. The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down 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 | $17,195 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,212 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,370 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $35,671 | 9.2 years |
| 14 kW | $2.44 | $23,896 | $42,114 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,699 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $55,426 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $62,296 | 8.5 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Mint Hill, NC Solar Cost FAQs
How much does it cost to install solar panels in Mint Hill?
The average cost of solar panels in Mint Hill 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Mint Hill?
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 property 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 savings from going solar.
Do solar panels increase your home value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Mint Hill?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.