Solar Panel Cost Guide in Selma, NC (2024 Update)
- Selma Solar Installation Cost: $17,148
- 25-Year Savings: $19,932
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Selma
Find out what the average cost of solar panels are in Selma.
In Selma, solar panels cost about 4 per watt on average.Since a 7.0-kW system is needed to cover the energy needs of a typical home in Selma, the average price of going solar will be about $17,148 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 multiple factors, such as how many panels you need, your energy consumption and what installation company you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $18,000 in savings on utility bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Selma
| Year | Return on Investment |
|---|---|
| 1 years | $-15,677 |
| 3 years | $-12,735 |
| 5 years | $-9,793 |
| 7 years | $-6,851 |
| 9 years | $-3,908 |
| 11 years | $-966 |
| 13 years | $1,976 |
| 15 years | $4,918 |
| 17 years | $7,860 |
| 19 years | $10,803 |
| 21 years | $13,745 |
| 23 years | $16,687 |
| 25 years | $19,629 |
Top Solar Installers in Selma
Although you can install solar panels on your own, it involves extra labor and expertise. Because of that, most homeowners choose to go with a solar panel installer. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Selma
Factors that Affect Solar Panel Costs in Selma
There are several factors that can influence your 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
When it comes to estimating the price of solar panels in Selma, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,510 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. Typically, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your total costs, so it’s crucial to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Selma is the company you get to install your solar system. As with choosing a company to install new cabinets, for instance, you’ll have many options for solar installers that provide a range of services at different costs.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that has the products, warranties and services you’re looking for and also is within your budget.
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 | $12,471 | 13.8 years |
| 8 kW | $3.58 | $20,049 | $17,021 | 13.5 years |
| 10 kW | $3.51 | $24,570 | $21,768 | 13.3 years |
| 12 kW | $3.44 | $28,894 | $26,712 | 13.0 years |
| 14 kW | $3.37 | $33,022 | $31,851 | 12.7 years |
| 16 kW | $3.30 | $36,953 | $37,188 | 12.5 years |
| 18 kW | $3.23 | $40,688 | $42,721 | 12.2 years |
| 20 kW | $3.16 | $44,226 | $48,450 | 11.9 years |
How to Save on Solar Panels
There are numerous companies available in Selma, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Warranties that cover panel repairs and maintenance 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 mark of a quality company.
- 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 likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Selma, NC Solar Cost FAQs
How much does it cost to install solar panels in Selma?
The average cost of solar panels in Selma is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Selma?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Selma, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt 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.