Solar Panel Cost Guide in Mount Olive, NC (2025 Update)
- Mount Olive Solar Installation Cost: $17,109
- 25-Year Savings: $19,898
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Mount Olive
Let’s have a look at the average cost of solar in Mount Olive.
The national average cost of solar panels is $2.66 per watt, but in Mount Olive it’s 4 per watt.Because a 7.0-kW system is needed to cover the energy costs of a typical home in Mount Olive, the average price of going solar will be about $17,109 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy consumption and what company you go with.With typical savings of about $18,000 on utility bills over 20 years, many homeowners in Mount Olive find going solar has a decent ROI.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Mount Olive
| Year | Return on Investment |
|---|---|
| 1 years | $-15,638 |
| 3 years | $-12,696 |
| 5 years | $-9,754 |
| 7 years | $-6,812 |
| 9 years | $-3,870 |
| 11 years | $-927 |
| 13 years | $2,015 |
| 15 years | $4,957 |
| 17 years | $7,899 |
| 19 years | $10,841 |
| 21 years | $13,784 |
| 23 years | $16,726 |
| 25 years | $19,668 |
Top Solar Installers in Mount Olive
Although it's possible to install solar panels yourself, it takes extra labor and expertise. Because of that, most homeowners choose to hire a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be best for your family.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
See all of the solar companies in Mount Olive
Factors that Affect Solar Panel Costs in Mount Olive
There are several criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar panel system you need for your household, 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 $3,510. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Mount Olive to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest.Though solar loans make switching to solar energy more accessible for Mount Olive homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Mount Olive is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $12,481 | 13.8 years |
| 8 kW | $3.58 | $20,049 | $17,034 | 13.5 years |
| 10 kW | $3.51 | $24,570 | $21,784 | 13.3 years |
| 12 kW | $3.44 | $28,894 | $26,730 | 13.0 years |
| 14 kW | $3.37 | $33,022 | $31,874 | 12.7 years |
| 16 kW | $3.30 | $36,953 | $37,213 | 12.5 years |
| 18 kW | $3.23 | $40,688 | $42,749 | 12.2 years |
| 20 kW | $3.16 | $44,226 | $48,482 | 11.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Read the contract terms thoroughly to make sure you understand the overall cost, project timeline rebates and warranties.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two 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 past customers.
EcoWatch's Mount Olive, NC Solar Cost FAQs
How much does it cost to install solar panels in Mount Olive?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Mount Olive?
Solar panels aren’t free in Mount Olive, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Mount Olive?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
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 stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.