Solar Panel Cost Guide in Statesville, NC (Mar 2023)
- Statesville Solar Installation Cost: $12,268
- 25-Year Savings: $18,876
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Statesville
Let's have a look at the average cost of solar in Statesville.
In Statesville, solar panels cost about 2.54 per watt on average. Using this figure, a typical 6.9-kW system would cost about $12,268 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more. With typical savings of about $17,000 on energy bills over 20 years, many homeowners in Statesville find investing in solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Statesville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,022 |
| 3 years | $-8,531 |
| 5 years | $-6,039 |
| 7 years | $-3,548 |
| 9 years | $-1,056 |
| 11 years | $1,435 |
| 13 years | $3,927 |
| 15 years | $6,418 |
| 17 years | $8,910 |
| 19 years | $11,401 |
| 21 years | $13,893 |
| 23 years | $16,385 |
| 25 years | $18,876 |
Top Solar Installers in Statesville
Trying to put up solar panels by yourself can be a difficult undertaking, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers provide can be invaluable as well, particularly if you aren't sure what brand of solar equipment you need.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Statesville
Factors that Affect Solar Panel Costs in Statesville
For many Statesville homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Statesville, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Statesville have solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of financing options, 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 getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can affect your pricing. Statesville'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 specific equipment options like Tesla Powerwall batteries or additional 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 | $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 impacts 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:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Before you sign a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can check 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 (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 Statesville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Statesville?
This is a tough question to answer precisely, 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Statesville?
A solar panel system isn't free in Statesville, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Statesville?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.