Solar Panel Cost Guide in Shelby, NC (2023 Update)
- Shelby Solar Installation Cost: $12,099
- 25-Year Savings: $19,627
- Payback Period: 9.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Shelby
Find out how much it might cost to switch to solar power in Shelby.
The national average cost of solar panels is $2.66 per watt, but in Shelby it's 2.54 per watt. 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.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of equipment you want, your solar contractor and more. Despite the significant upfront cost, the average Shelby homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To get a free quote from a highly rated solar company in Shelby, you can click the button below.
Solar savings over time in Shelby
| Year | Return on Investment |
|---|---|
| 1 years | $-10,776 |
| 3 years | $-8,132 |
| 5 years | $-5,488 |
| 7 years | $-2,844 |
| 9 years | $-199 |
| 11 years | $2,445 |
| 13 years | $5,089 |
| 15 years | $7,733 |
| 17 years | $10,377 |
| 19 years | $13,022 |
| 21 years | $15,666 |
| 23 years | $18,310 |
| 25 years | $20,954 |
Top Solar Installers in Shelby
Trying to put up solar panels yourself can be a time-consuming project, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar companies offer can be valuable as well, especially if you don't quite know what kind of solar equipment you need.
If you're on the hunt for a solar installer in Shelby, we've compiled a list of our top suggestions here:
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 Shelby
Factors that Affect Solar Panel Costs in Shelby
While the average cost of a solar system in Shelby is $12,090, your final cost may differ. There are quite a few factors that can have a sizable 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 significant 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,540 per kilowatt in Shelby. The type of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond 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 searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Shelby homeowners decide to finance their solar panel systems to make paying for solar more affordable. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Shelby, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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
Since the model of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
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 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 many factors. Broadly 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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Shelby?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is it worth going solar in Shelby?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Shelby?
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 higher 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.