Solar Panel Cost Guide in Oxford, NC (2024 Update)

  • Oxford Solar Installation Cost: $17,284
  • 25-Year Savings: $21,829
  • Payback Period: 12.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 24, 2025

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Oxford

Let’s have a look at the average cost of solar panels in Oxford.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Oxford, the average cost of solar panels is 4 per watt.The average solar panel system size in Oxford is around 7.0 kilowatts, meaning a cost of about $17,284 for a solar installation, or $24,716 before the 0 federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more.But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on energy bills.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Oxford

YearReturn on Investment
1 years$-15,813
3 years$-12,871
5 years$-9,929
7 years$-6,987
9 years$-4,044
11 years$-1,102
13 years$1,840
15 years$4,782
17 years$7,724
19 years$10,666
21 years$13,609
23 years$16,551
25 years$19,493

Top Solar Installers in Oxford

When making the switch to solar, many homeowners prefer to hire a solar installation company since handling can be a challenging project. In addition, if you’d like to maximize your investment in solar energy, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.

Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:

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Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

See all of the solar companies in Oxford

Factors that Affect Solar Panel Costs in Oxford

For many Oxford homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Oxford, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major 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 raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.The brand and type of equipment you choose 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 have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Oxford homeowners decide to finance their solar panel systems to offset upfront costs.It’s wise to add 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 off the loan.

Solar Panel Installation Company

The solar company you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Oxford, and each can charge varying amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to 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 sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.65$15,332$13,95413.1 years
8 kW$3.58$20,049$18,99912.8 years
10 kW$3.51$24,570$24,24012.6 years
12 kW$3.44$28,894$29,67812.3 years
14 kW$3.37$33,022$35,31212.1 years
16 kW$3.30$36,953$41,14211.8 years
18 kW$3.23$40,688$47,17011.6 years
20 kW$3.16$44,226$53,39411.3 years

How to Save on Solar Panels

Since the kind of solar panels and the installation company you choose significantly influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
  • Contract: Review the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
  • Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

EcoWatch's Oxford, NC Solar Cost FAQs

What is the average cost of installing solar panels in Oxford?

This is a difficult question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Oxford?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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 bang for your buck from going solar.

Is going solar worth it?

Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.

How long do solar panels last in Oxford?

Although 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 their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.