Solar Panel Cost Guide in Seven Lakes, NC (2024 Update)
- Seven Lakes Solar Installation Cost: $16,975
- 25-Year Savings: $23,165
- Payback Period: 12.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Seven Lakes
Find out how much it might cost to make the switch to solar in Seven Lakes.
The national average cost of solar panels is $2.66 per watt, but in Seven Lakes it’s 4 per watt.The average Seven Lakes homeowner needs a 6.9-kilowatt system, which would cost about $16,975 with the federal tax credit, or $24,274 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Seven Lakes homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Seven Lakes find going solar has a decent ROI.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Seven Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-15,504 |
| 3 years | $-12,561 |
| 5 years | $-9,619 |
| 7 years | $-6,677 |
| 9 years | $-3,735 |
| 11 years | $-793 |
| 13 years | $2,150 |
| 15 years | $5,092 |
| 17 years | $8,034 |
| 19 years | $10,976 |
| 21 years | $13,918 |
| 23 years | $16,861 |
| 25 years | $19,803 |
Top Solar Installers in Seven Lakes
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make your swap to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy use, but working with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Seven Lakes
Factors that Affect Solar Panel Costs in Seven Lakes
While the average cost of a solar system in Seven Lakes is $16,975, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,510 per kilowatt in Seven Lakes.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Seven Lakes, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Seven Lakes have solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of financing options, 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can influence your pricing. Seven Lakes’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $15,454 | 12.5 years |
| 8 kW | $3.58 | $20,049 | $20,999 | 12.2 years |
| 10 kW | $3.51 | $24,570 | $26,740 | 12.0 years |
| 12 kW | $3.44 | $28,894 | $32,677 | 11.7 years |
| 14 kW | $3.37 | $33,022 | $38,812 | 11.5 years |
| 16 kW | $3.30 | $36,953 | $45,142 | 11.3 years |
| 18 kW | $3.23 | $40,688 | $51,670 | 11.0 years |
| 20 kW | $3.16 | $44,226 | $58,393 | 10.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which brand 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.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Seven Lakes, NC Solar Cost FAQs
How much does it cost to install solar panels in Seven Lakes?
The average cost of solar panels in Seven Lakes is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Seven Lakes?
Leasing solar panels can be an appealing choice, because 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Is it worth going solar in Seven Lakes?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Seven Lakes?
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 level 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.