Solar Panel Cost Guide in Oxford, NC (Jan 2023)
- Oxford Solar Installation Cost: $12,499
- 25-Year Savings: $21,837
- Payback Period: 9.1 Years
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Top Solar Installers in Oxford
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make swapping over to solar power much easier. Local solar companies can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Oxford
Factors that Affect Solar Panel Costs in Oxford
There are a number of factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use 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. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Oxford, which can reduce, 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can influence how much you pay. Oxford's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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||$2.64||$11,095||$18,191||9.5 years|
|8 kW||$2.59||$14,508||$24,539||9.3 years|
|10 kW||$2.54||$17,780||$31,030||9.1 years|
|12 kW||$2.49||$20,909||$37,663||8.9 years|
|14 kW||$2.44||$23,896||$44,437||8.7 years|
|16 kW||$2.39||$26,741||$51,355||8.6 years|
|18 kW||$2.34||$29,444||$58,414||8.4 years|
|20 kW||$2.29||$32,004||$65,616||8.2 years|
How to Save on Solar Panels
Since the model of solar panels and the company you choose greatly influences your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: The brand of solar panel you want to get plays a role in which installer you should go with, since different companies provide different panels.
EcoWatch's Oxford, NC Solar Cost FAQs
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.