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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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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

Find out what the average cost of installing solar panels is in Oxford.

The national average cost of solar panels is $2.66 per watt, but in Oxford it's $3 per watt. To cover the typical energy usage of the average home in Oxford, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,499, or $9,249 after the federal solar tax credit of 30% is applied.

The actual price you pay can go above or below the average in Oxford depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Oxford find installing solar panels can pay off big.

To receive a free estimate from a highly rated solar company in Oxford, you can click the button below.

Solar savings over time in Oxford

Year Return on Investment
1 years $-11,126
3 years $-8,379
5 years $-5,632
7 years $-2,885
9 years $-138
11 years $2,609
13 years $5,356
15 years $8,103
17 years $10,850
19 years $13,597
21 years $16,344
23 years $19,090
25 years $21,837

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:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

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.

Solar Equipment

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.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Oxford, NC Solar Cost FAQs

How much does it cost to install solar panels in Oxford?

The average cost of solar panels in Oxford 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 stuff like the type of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in Oxford?

Solar panels aren't free in Oxford, 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 solar panels eliminate my power bills?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $976.20 per year.

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 stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose 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.

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.

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