Solar Panel Cost Guide in Shelby, NC (2024 Update)
- Shelby Solar Installation Cost: $16,719
- 25-Year Savings: $16,334
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Shelby
Find out what the average cost of solar panels are in Shelby.
In Shelby, solar panels cost about 4 per watt on average.The average Shelby homeowner needs a 6.8-kilowatt system, which would cost about $16,719 with the federal tax credit, or $23,908 before the 0 tax credit is applied.
These figures are only averages, and the cost of going solar for you will differ based on your specific situation and what company you go with.But, once you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar installer in Shelby for a quote for your home.
Solar savings over time in Shelby
| Year | Return on Investment |
|---|---|
| 1 years | $-15,397 |
| 3 years | $-12,753 |
| 5 years | $-10,108 |
| 7 years | $-7,464 |
| 9 years | $-4,820 |
| 11 years | $-2,176 |
| 13 years | $469 |
| 15 years | $3,113 |
| 17 years | $5,757 |
| 19 years | $8,401 |
| 21 years | $11,046 |
| 23 years | $13,690 |
| 25 years | $16,334 |
Top Solar Installers in Shelby
When making the switch to solar, many homeowners decide to hire a solar installation company since installing solar panels yourself can be a time-consuming project. Another good thing about going with a top solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
If you’d like to make the switch to solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Shelby
Factors that Affect Solar Panel Costs in Shelby
Even though the average cost of a solar system in Shelby is $16,719, your final cost may be higher or lower than that. There are quite a few 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
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Shelby, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Shelby homeowners choose to finance their solar panel systems to offset upfront costs.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Shelby, and each can charge varying amounts for labor and equipment.Additionally, some companies in Shelby have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $12,643 | 13.7 years |
| 8 kW | $3.58 | $20,049 | $17,250 | 13.4 years |
| 10 kW | $3.51 | $24,570 | $22,054 | 13.2 years |
| 12 kW | $3.44 | $28,894 | $27,054 | 12.9 years |
| 14 kW | $3.37 | $33,022 | $32,251 | 12.6 years |
| 16 kW | $3.30 | $36,953 | $37,645 | 12.4 years |
| 18 kW | $3.23 | $40,688 | $43,235 | 12.1 years |
| 20 kW | $3.16 | $44,226 | $49,021 | 11.9 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Shelby, NC Solar Cost FAQs
How much does it cost to install solar panels in Shelby?
The average cost of solar panels in Shelby 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Shelby?
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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Shelby?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.