Solar Panel Cost Guide in Swansboro, NC (2023 Update)
- Swansboro Solar Installation Cost: $11,824
- 25-Year Savings: $20,389
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Swansboro
Find out what the average cost of a solar system is in Swansboro.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Swansboro, the typical cost of a solar system is 2.54 per watt. Using this figure, a typical 6.7-kW system would cost about $11,824 before the 30% federal solar tax credit is applied.
Remember 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 equipment you want to get, your solar contractor and more. Many homeowners find installing a solar panel system is a sound investment. The average homeowner in Swansboro can save about $18,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Swansboro
| Year | Return on Investment |
|---|---|
| 1 years | $-10,535 |
| 3 years | $-7,958 |
| 5 years | $-5,381 |
| 7 years | $-2,804 |
| 9 years | $-227 |
| 11 years | $2,350 |
| 13 years | $4,927 |
| 15 years | $7,504 |
| 17 years | $10,081 |
| 19 years | $12,658 |
| 21 years | $15,235 |
| 23 years | $17,812 |
| 25 years | $20,389 |
Top Solar Installers in Swansboro
Trying to put up solar panels on your own can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
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 Swansboro
Factors that Affect Solar Panel Costs in Swansboro
The cost of installing a solar system in Swansboro can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, 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 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 around $2,540. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Swansboro, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to factor 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 remaining key cost factor you should consider is the installer you choose. Given the massive popularity of clean energy solutions in Swansboro, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have 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 | $2.64 | $11,095 | $17,975 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,252 | 9.4 years |
| 10 kW | $2.54 | $17,780 | $30,670 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $37,231 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $43,934 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $50,779 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $57,767 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $64,897 | 8.3 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The type of solar panel you'd like to install plays a role in which installer you should go with, since different companies have different panels.
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 Swansboro, NC Solar Cost FAQs
What is the average cost of installing solar panels in Swansboro?
This is a tough question to answer precisely, because the cost depends on a variety of 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 cheaper solar panels.
Are solar panels free in Swansboro?
You can't get solar panels for free in Swansboro. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Swansboro, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, solar panels can last 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 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.