Solar Panel Cost Guide in Statesville, NC (2023 Update)
- Statesville Solar Installation Cost: $12,269
- 25-Year Savings: $18,875
- Payback Period: 9.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Statesville
Find out what the average cost of solar panel installation is in Statesville.
In Statesville, solar panels cost about 2.54 per watt on average. Since a 6.9-kW system is needed to cover the energy usage of a typical home in Statesville, the average price of going solar will be about $12,268 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar panels you choose, your solar contractor and more. But, once you've paid the initial cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $17,000 over 20 years on power bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Statesville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,947 |
| 3 years | $-8,303 |
| 5 years | $-5,658 |
| 7 years | $-3,014 |
| 9 years | $-370 |
| 11 years | $2,274 |
| 13 years | $4,919 |
| 15 years | $7,563 |
| 17 years | $10,207 |
| 19 years | $12,851 |
| 21 years | $15,496 |
| 23 years | $18,140 |
| 25 years | $20,784 |
Top Solar Installers in Statesville
Trying to install solar panels yourself can be a time-consuming undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you pick which one will be best for your home.
If you're searching for a solar installer in Statesville, the EcoWatch team has organized 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 Statesville
Factors that Affect Solar Panel Costs in Statesville
The cost of installing a solar system in Statesville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,540. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Statesville average.
Solar Financing Terms
Many homeowners find the average cost of solar in Statesville to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. You'll have to consider the long-term cost of financing options, including the amount of 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you select will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $15,985 | 10.2 years |
| 8 kW | $2.59 | $14,508 | $21,598 | 10.0 years |
| 10 kW | $2.54 | $17,780 | $27,353 | 9.8 years |
| 12 kW | $2.49 | $20,909 | $33,251 | 9.7 years |
| 14 kW | $2.44 | $23,896 | $39,290 | 9.5 years |
| 16 kW | $2.39 | $26,741 | $45,472 | 9.3 years |
| 18 kW | $2.34 | $29,444 | $51,796 | 9.1 years |
| 20 kW | $2.29 | $32,004 | $58,263 | 8.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before deciding.
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 Statesville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Statesville?
The average cost of solar panels in Statesville is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Statesville?
Leasing solar panels can be an appealing choice, as it typically 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is it worth going solar in Statesville?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Statesville?
On average, the lifespan of solar panels is 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.