Solar Panel Cost Guide in Siler City, NC (2024 Update)
- Siler City Solar Installation Cost: $17,017
- 25-Year Savings: $21,399
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Siler City
See how much it might cost to switch to solar power in Siler City.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Siler City, the typical cost of solar panels is 4 per watt.Using this figure, a typical 6.9-kW system would cost about $17,017 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of equipment you want, your solar contractor and more.With average savings of about $18,000 on power bills over 20 years, many homeowners in Siler City find installing solar panels can pay off big.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Siler City
| Year | Return on Investment |
|---|---|
| 1 years | $-15,545 |
| 3 years | $-12,603 |
| 5 years | $-9,661 |
| 7 years | $-6,719 |
| 9 years | $-3,777 |
| 11 years | $-834 |
| 13 years | $2,108 |
| 15 years | $5,050 |
| 17 years | $7,992 |
| 19 years | $10,934 |
| 21 years | $13,876 |
| 23 years | $16,819 |
| 25 years | $19,761 |
Top Solar Installers in Siler City
Putting up solar panels by yourself can be a dangerous task, which is why getting a solar installation company is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your location and energy usage, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
You can get a free estimate from a local solar installer 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
See all of the solar companies in Siler City
Factors that Affect Solar Panel Costs in Siler City
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Siler City: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,510.There are a lot of different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Siler City to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a role in determining your pricing. Siler City’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $3.65 | $15,332 | $13,875 | 13.1 years |
| 8 kW | $3.58 | $20,049 | $18,893 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $24,108 | 12.6 years |
| 12 kW | $3.44 | $28,894 | $29,519 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $35,126 | 12.1 years |
| 16 kW | $3.30 | $36,953 | $40,931 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,932 | 11.6 years |
| 20 kW | $3.16 | $44,226 | $53,129 | 11.4 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 picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Siler City, NC Solar Cost FAQs
What is the average cost of installing solar panels in Siler City?
The average cost of solar panels in Siler City 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 like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Siler City, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Even though 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 their energy production will have decreased significantly after that point. You can opt to 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.