Solar Panel Cost Guide in Shelby, NC (Mar 2023)
- Shelby Solar Installation Cost: $12,090
- 25-Year Savings: $19,635
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Shelby
Find out what the average cost of solar panels are in Shelby.
Although the national average of solar panels is $2.66 per watt, solar panels in Shelby generally cost about 2.54. The average Shelby homeowner needs a 6.8-kilowatt system, which would cost about $12,090 with the federal tax credit, or $17,289 before the 30% tax credit is applied.
The actual price you pay can be higher or lower than the average in Shelby depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront cost of solar panels is worth paying. On average Shelby homeowners see about $18,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Shelby
| Year | Return on Investment |
|---|---|
| 1 years | $-10,821 |
| 3 years | $-8,283 |
| 5 years | $-5,745 |
| 7 years | $-3,207 |
| 9 years | $-669 |
| 11 years | $1,869 |
| 13 years | $4,407 |
| 15 years | $6,945 |
| 17 years | $9,483 |
| 19 years | $12,021 |
| 21 years | $14,559 |
| 23 years | $17,097 |
| 25 years | $19,635 |
Top Solar Installers in Shelby
When switching to solar energy, many homeowners opt to hire a solar company since putting up solar panels yourself can be a time-consuming project. Plus, if you're not certain what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Shelby
Factors that Affect Solar Panel Costs in Shelby
For many Shelby homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Shelby, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,540. The kind of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Shelby to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time because of interest. You'll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Shelby, and each can charge different amounts for labor and equipment. 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 access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $16,880 | 9.9 years |
| 8 kW | $2.59 | $14,508 | $22,791 | 9.7 years |
| 10 kW | $2.54 | $17,780 | $28,844 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,039 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,377 | 9.2 years |
| 16 kW | $2.39 | $26,741 | $47,857 | 9.0 years |
| 18 kW | $2.34 | $29,444 | $54,479 | 8.8 years |
| 20 kW | $2.29 | $32,004 | $61,243 | 8.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
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 Shelby, NC Solar Cost FAQs
How much does it cost to install solar panels in Shelby?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
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 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 way to go if you want to get the most savings.
Is it worth going solar in Shelby?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
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 how much energy they produce will have decreased significantly after that point. You can replace them after having 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.