Solar Panel Cost Guide in Silver Lake, NC (Feb 2023)
- Silver Lake Solar Installation Cost: $11,326
- 25-Year Savings: $22,063
- Payback Period: 8.5 Years
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Top Solar Installers in Silver Lake
When going solar, many homeowners decide to go with a solar installer since DIY solar panel installation can be a difficult project. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you'd like to switch to solar energy but still aren't certain which solar installer to go with, here are our suggestions for providers nearby:
See all of the solar companies in Silver Lake
Factors that Affect Solar Panel Costs in Silver Lake
There are a number of criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
When it comes to estimating the price of a solar panel system in Silver Lake, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $2,540 for each additional kilowatt you need. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Silver Lake, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. Even though solar loans make going solar more accessible for Silver Lake homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Silver Lake, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Silver Lake are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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||$2.64||$11,095||$20,346||8.8 years|
|8 kW||$2.59||$14,508||$27,412||8.7 years|
|10 kW||$2.54||$17,780||$34,621||8.5 years|
|12 kW||$2.49||$20,909||$41,972||8.3 years|
|14 kW||$2.44||$23,896||$49,465||8.1 years|
|16 kW||$2.39||$26,741||$57,101||8.0 years|
|18 kW||$2.34||$29,444||$64,878||7.8 years|
|20 kW||$2.29||$32,004||$72,798||7.6 years|
How to Save on Solar Panels
There are a lot of companies to choose from in Silver Lake, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- 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 should know with your solar company, such as what permits you should acquire and how long the project will take.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
EcoWatch's Silver Lake, NC Solar Cost FAQs
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.