Solar Panel Cost Guide in Shallotte, NC (Mar 2023)
- Shallotte Solar Installation Cost: $11,379
- 25-Year Savings: $22,010
- Payback Period: 8.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Shallotte
Find out how much it might cost to go solar in Shallotte.
In Shallotte, solar panels cost about 2.54 per watt on average. The average Shallotte homeowner needs a 6.4-kilowatt system, which would cost about $11,379 with the federal tax credit, or $16,272 before the 30% tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely vary based on the amount of energy your home requires and what company you go with. Many homeowners find going solar is a solid investment. The average homeowner in Shallotte can save around $20,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Shallotte
| Year | Return on Investment |
|---|---|
| 1 years | $-10,044 |
| 3 years | $-7,373 |
| 5 years | $-4,701 |
| 7 years | $-2,030 |
| 9 years | $641 |
| 11 years | $3,312 |
| 13 years | $5,983 |
| 15 years | $8,654 |
| 17 years | $11,325 |
| 19 years | $13,996 |
| 21 years | $16,668 |
| 23 years | $19,339 |
| 25 years | $22,010 |
Top Solar Installers in Shallotte
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar panel installer can make switching to solar power much easier. The expertise that solar companies offer can be helpful as well, especially if you aren't sure what kind of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 Shallotte
Factors that Affect Solar Panel Costs in Shallotte
There are many factors that can affect your total 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
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Shallotte, where sunlight is abundant, efficiency can quickly pay off. Plus, 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
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over five to seven years on average. 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're only able to 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 getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installer you choose will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $20,225 | 8.9 years |
| 8 kW | $2.59 | $14,508 | $27,251 | 8.7 years |
| 10 kW | $2.54 | $17,780 | $34,419 | 8.5 years |
| 12 kW | $2.49 | $20,909 | $41,729 | 8.3 years |
| 14 kW | $2.44 | $23,896 | $49,182 | 8.2 years |
| 16 kW | $2.39 | $26,741 | $56,777 | 8.0 years |
| 18 kW | $2.34 | $29,444 | $64,514 | 7.8 years |
| 20 kW | $2.29 | $32,004 | $72,394 | 7.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on 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:
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Shallotte, NC Solar Cost FAQs
What is the average cost of installing solar panels in Shallotte?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Shallotte?
You can't get solar panels for free in Shallotte. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Does Shallotte have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.