Solar Panel Cost Guide in Mooresville, NC (2023 Update)
- Mooresville Solar Installation Cost: $12,268
- 25-Year Savings: $18,399
- Payback Period: 10.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mooresville
Let's have a look at the average cost of solar in Mooresville.
In Mooresville, solar panels cost about 2.54 per watt on average. The average Mooresville homeowner needs a 6.9-kilowatt system, which would cost about $12,268 with the federal tax credit, or $17,543 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Mooresville homeowners. The cost 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 large upfront cost, the average Mooresville homeowner can save around $17,000 on their power bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar installer in Mooresville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Mooresville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,041 |
| 3 years | $-8,588 |
| 5 years | $-6,135 |
| 7 years | $-3,681 |
| 9 years | $-1,228 |
| 11 years | $1,226 |
| 13 years | $3,679 |
| 15 years | $6,132 |
| 17 years | $8,586 |
| 19 years | $11,039 |
| 21 years | $13,493 |
| 23 years | $15,946 |
| 25 years | $18,399 |
Top Solar Installers in Mooresville
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make your switch to solar power much easier. The expertise that solar installers provide can be valuable as well, especially if you aren't sure what type of solar equipment you need.
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 Mooresville
Factors that Affect Solar Panel Costs in Mooresville
The cost of installing a solar system in Mooresville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,540. The kind of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Mooresville have solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also increases your overall costs, so it's vital to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you select will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $15,571 | 10.4 years |
| 8 kW | $2.59 | $14,508 | $21,045 | 10.2 years |
| 10 kW | $2.54 | $17,780 | $26,662 | 10.0 years |
| 12 kW | $2.49 | $20,909 | $32,422 | 9.8 years |
| 14 kW | $2.44 | $23,896 | $38,323 | 9.6 years |
| 16 kW | $2.39 | $26,741 | $44,367 | 9.4 years |
| 18 kW | $2.34 | $29,444 | $50,553 | 9.2 years |
| 20 kW | $2.29 | $32,004 | $56,881 | 9.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have proven 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 good reviews from previous customers.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
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 Mooresville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Mooresville?
This is a hard question to answer precisely, because the cost depends on a variety of 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 other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will having solar panels impact how much my home is worth?
Solar panels can increase your property's value significantly 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 often do you have to replace solar panels?
Even 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 the amount of energy they produce will have decreased significantly after that point. You can opt 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.