Solar Panel Cost Guide in Pineville, NC (Sep 2022)
- Pineville Solar Installation Cost: $12,126
- 25-Year Savings: $19,701
- Payback Period: 9.5 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Pineville
Let's take a look at the average cost of solar in Pineville.
In Pineville, solar panels cost about $3 per watt on average. The average solar panel system size in Pineville is around 6.8 kilowatts, meaning a cost of about $12,126 for a solar installation, or $8,973 after the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar system you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Pineville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,853 |
| 3 years | $-8,307 |
| 5 years | $-5,761 |
| 7 years | $-3,214 |
| 9 years | $-668 |
| 11 years | $1,878 |
| 13 years | $4,424 |
| 15 years | $6,970 |
| 17 years | $9,516 |
| 19 years | $12,063 |
| 21 years | $14,609 |
| 23 years | $17,155 |
| 25 years | $19,701 |
Top Solar Installers in Pineville
When making the switch to solar, many homeowners prefer to use a solar installer since DIY solar panel installation can be a difficult project. Another good thing about choosing a vetted solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Pineville
Factors that Affect Solar Panel Costs in Pineville
There are several criteria that can affect 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 panels.
Solar Equipment Size
System size is one of the largest factors that determines the overall cost of installing solar panels. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The model of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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
Many homeowners find the average cost of solar in Pineville to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. While solar loans make adopting solar energy more accessible for Pineville homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Pineville, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, 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 | $16,887 | 9.9 years |
| 8 kW | $2.59 | $14,508 | $22,801 | 9.7 years |
| 10 kW | $2.54 | $17,780 | $28,857 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,055 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,395 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $47,878 | 9.0 years |
| 18 kW | $2.34 | $29,444 | $54,503 | 8.8 years |
| 20 kW | $2.29 | $32,004 | $61,270 | 8.6 years |
Solar Incentives in Pineville
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Duke Energy - NC Solar Rebate Program |
| Incentive Amount | Residential: $0.60/W-AC Nonresidential: $0.50/W-AC Nonprofit: $0.75/W-AC |
| Incentive Max | Residential: $6,000 Nonresidential: $50,000 Nonprofit: $75,000 |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Financing Program for Renewable Energy and Energy Efficiency |
| More Info | Click here |
| Name | PSNC Energy (Gas) - Green Building Rate Discount |
| Incentive Amount | discount/therm based on seasonal values |
| Website | Visit here |
| More Info | Click here |
| Name | Property Tax Abatement for Solar Electric Systems |
| Incentive Amount | Residential systems: 100% of the appraised value All other systems: 80% of the appraised value |
| More Info | Click here |
| Name | Local Option - Green Building Incentives |
| More Info | Click here |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- 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 cost.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Pineville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Pineville?
The average cost of solar panels in Pineville is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Pineville?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pineville is currently $331,377, so you could be looking at a value of about $13,586 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Pineville is a rewarding investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.
