Solar Panel Cost Guide in Swannanoa, NC (2023 Update)
- Swannanoa Solar Installation Cost: $12,393
- 25-Year Savings: $19,554
- Payback Period: 9.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Swannanoa
Find out what the average cost of solar panels are in Swannanoa.
In Swannanoa, solar panels cost about 2.54 per watt on average. Because a 7.0-kW system is needed to cover the energy usage of a typical home in Swannanoa, the average price of going solar will be about $12,393 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and your own solar costs will vary based on factors unique to your home and what company you choose to go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on utility bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Swannanoa
| Year | Return on Investment |
|---|---|
| 1 years | $-11,115 |
| 3 years | $-8,559 |
| 5 years | $-6,003 |
| 7 years | $-3,448 |
| 9 years | $-892 |
| 11 years | $1,664 |
| 13 years | $4,219 |
| 15 years | $6,775 |
| 17 years | $9,331 |
| 19 years | $11,886 |
| 21 years | $14,442 |
| 23 years | $16,998 |
| 25 years | $19,554 |
Top Solar Installers in Swannanoa
Many homeowners choose to hire a solar panel installer since installing solar panels yourself can be a labor-intensive endeavor. The expertise that solar installers offer can be useful as well, particularly if you don't quite know what type of solar equipment you need.
If you're looking for a solar company in Swannanoa, we've 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 Swannanoa
Factors that Affect Solar Panel Costs in Swannanoa
While the average cost of a solar system in Swannanoa is $12,393, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,540. The kind of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Swannanoa to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar panel installer you select will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions 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 | $16,422 | 10.1 years |
| 8 kW | $2.59 | $14,508 | $22,181 | 9.9 years |
| 10 kW | $2.54 | $17,780 | $28,081 | 9.7 years |
| 12 kW | $2.49 | $20,909 | $34,124 | 9.5 years |
| 14 kW | $2.44 | $23,896 | $40,310 | 9.3 years |
| 16 kW | $2.39 | $26,741 | $46,637 | 9.1 years |
| 18 kW | $2.34 | $29,444 | $53,107 | 8.9 years |
| 20 kW | $2.29 | $32,004 | $59,719 | 8.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: The model of solar panel you'd like to install plays a role in which installer you should opt for, since different companies provide different panels.
- Warranty: If you care about the durability of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Swannanoa, NC Solar Cost FAQs
How much does it cost to install solar panels in Swannanoa?
This is a tough question to answer exactly, because the cost depends on many factors. Generally 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 extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Swannanoa?
Leasing solar panels can be an attractive 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will solar panels impact my property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.