Solar Panel Cost Guide in Tyro, NC (2024 Update)
- Tyro Solar Installation Cost: $16,956
- 25-Year Savings: $20,119
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Tyro
Let’s take a look at the average cost of solar panels in Tyro.
The national average cost of solar panels is $2.66 per watt, but in Tyro it’s 4 per watt.To cover the typical energy needs of the average home in Tyro, most homeowners require a 6.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,956, or $24,247 before the federal solar tax credit of 0 is applied.
How much you pay can go higher or lower than the average in Tyro based on a few factors, such as the model of solar panels you choose and the solar installer you hire.With average savings of about $18,000 on electricity bills over 20 years, many homeowners in Tyro find installing solar panels has a decent ROI.
Click the button below to get connected to a top solar installer in Tyro for a custom quote.
Solar savings over time in Tyro
| Year | Return on Investment |
|---|---|
| 1 years | $-15,633 |
| 3 years | $-12,989 |
| 5 years | $-10,345 |
| 7 years | $-7,701 |
| 9 years | $-5,056 |
| 11 years | $-2,412 |
| 13 years | $232 |
| 15 years | $2,876 |
| 17 years | $5,521 |
| 19 years | $8,165 |
| 21 years | $10,809 |
| 23 years | $13,453 |
| 25 years | $16,097 |
Top Solar Installers in Tyro
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your switch to solar power much easier. Another great thing about choosing a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Tyro
Factors that Affect Solar Panel Costs in Tyro
While the average cost of a solar system in Tyro is $16,956, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Tyro have solar loans, which reduce the initial cost of installing solar.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can affect how much you pay. Tyro’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.65 | $15,332 | $12,829 | 13.6 years |
| 8 kW | $3.58 | $20,049 | $17,498 | 13.3 years |
| 10 kW | $3.51 | $24,570 | $22,364 | 13.1 years |
| 12 kW | $3.44 | $28,894 | $27,427 | 12.8 years |
| 14 kW | $3.37 | $33,022 | $32,686 | 12.6 years |
| 16 kW | $3.30 | $36,953 | $38,141 | 12.3 years |
| 18 kW | $3.23 | $40,688 | $43,794 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $49,642 | 11.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably impacts 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:
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: The kind of solar panel you need to get plays a part in which installer you should choose, since different companies have access to different panels.
- Contract: When reading through your solar installer’s contract, ask questions 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: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Tyro, NC Solar Cost FAQs
How much does it cost to install solar panels in Tyro?
The average cost of solar panels in Tyro is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $938.68 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.