Solar Panel Cost Guide in Swansboro, NC (2023 Update)
- Swansboro Solar Installation Cost: $11,821
- 25-Year Savings: $20,391
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Swansboro
Here's how much it might cost to switch to solar power in Swansboro.
While the national average of solar panels is $2.66 per watt, solar panels in Swansboro typically cost around 2.54. Using this figure, a typical 6.7-kW system would cost about $11,824 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely vary based on the amount of energy your home requires and what company you go with. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Swansboro can save about $18,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Swansboro for a quote for your home.
Solar savings over time in Swansboro
| Year | Return on Investment |
|---|---|
| 1 years | $-11,714 |
| 3 years | $-11,499 |
| 5 years | $-11,284 |
| 7 years | $-11,069 |
| 9 years | $-10,855 |
| 11 years | $-10,640 |
| 13 years | $-10,425 |
| 15 years | $-10,210 |
| 17 years | $-9,996 |
| 19 years | $-9,781 |
| 21 years | $-9,566 |
| 23 years | $-9,351 |
| 25 years | $-9,137 |
Top Solar Installers in Swansboro
When going solar, many homeowners opt to use a solar installation company since putting up a solar system yourself can be a time-consuming project. The expertise that solar companies offer can be useful as well, particularly if you aren't sure what kind of solar equipment you need.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers near you:
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 Swansboro
Factors that Affect Solar Panel Costs in Swansboro
For many Swansboro homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Swansboro, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,540 per kilowatt in Swansboro. The kind of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on 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 into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they lower your upfront costs and let you pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Swansboro, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that provides the products, warranties and services you're looking for and also fits within your budget.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- 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.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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 Swansboro, NC Solar Cost FAQs
How much does it cost to install solar panels in Swansboro?
The average cost of solar panels in Swansboro is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like 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 Swansboro?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside 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 get the most savings.
Does Swansboro have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Swansboro?
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 amount 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.