Solar Panel Cost Guide in Tyro, NC (Mar 2023)
- Tyro Solar Installation Cost: $12,268
- 25-Year Savings: $20,121
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Tyro
See how much it might cost to install solar panels in Tyro.
The national average cost of solar panels is $2.66 per watt, but in Tyro it's 2.54 per watt. The average solar panel system size in Tyro is around 6.9 kilowatts, meaning a cost of about $12,268 for a solar installation, or $17,543 before the 30% federal solar tax credit is applied.
The actual price you pay can be above or below the average in Tyro depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire. Even with the large initial cost, the average Tyro homeowner can save around $18,000 on their power bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a vetted solar installer in Tyro for a custom estimate.
Solar savings over time in Tyro
| Year | Return on Investment |
|---|---|
| 1 years | $-10,973 |
| 3 years | $-8,381 |
| 5 years | $-5,790 |
| 7 years | $-3,199 |
| 9 years | $-608 |
| 11 years | $1,983 |
| 13 years | $4,574 |
| 15 years | $7,165 |
| 17 years | $9,756 |
| 19 years | $12,348 |
| 21 years | $14,939 |
| 23 years | $17,530 |
| 25 years | $20,121 |
Top Solar Installers in Tyro
Although it's possible to install solar panels on your own, it requires extra labor and handiness. For that reason, most people choose a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Tyro
Factors that Affect Solar Panel Costs in Tyro
For many Tyro homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Tyro, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Tyro, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by about $2,540 for each additional kilowatt you need. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Tyro average.
Solar Financing Terms
Many homeowners find the average cost of solar in Tyro to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. However, the interest on solar loans also increases your overall costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can influence your pricing. Tyro's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $17,066 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,039 | 9.7 years |
| 10 kW | $2.54 | $17,780 | $29,154 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,412 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,812 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,354 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $55,038 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $61,864 | 8.5 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably influences your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: The model of solar panel you'd like to install plays a role in which company you should choose, since different companies offer different panels.
- Installation Process: When making the switch to solar power, it's crucial to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project completion timeline.
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 Tyro, NC Solar Cost FAQs
What is the average cost of installing solar panels in Tyro?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Tyro?
You can't get solar panels for free in Tyro. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after switching to solar?
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 how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.