Solar Panel Cost Guide in Tyro, NC (2023 Update)
- Tyro Solar Installation Cost: $12,270
- 25-Year Savings: $20,119
- Payback Period: 9.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Tyro
We go over average solar pricing in Tyro.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Tyro, the typical cost of solar panels is 2.54 per watt. The average Tyro homeowner needs a 6.9-kilowatt system, which would cost about $12,268 with the federal tax credit, or $17,543 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Tyro homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Even with the high initial cost, the average Tyro homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar company in Tyro for a custom estimate.
Solar savings over time in Tyro
| Year | Return on Investment |
|---|---|
| 1 years | $-10,948 |
| 3 years | $-8,303 |
| 5 years | $-5,659 |
| 7 years | $-3,015 |
| 9 years | $-371 |
| 11 years | $2,274 |
| 13 years | $4,918 |
| 15 years | $7,562 |
| 17 years | $10,206 |
| 19 years | $12,850 |
| 21 years | $15,495 |
| 23 years | $18,139 |
| 25 years | $20,783 |
Top Solar Installers in Tyro
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar company can make converting to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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
There are several criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar panel system you need for your household, 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 about $2,540. The brand and kind 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 a small roof 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 add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
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
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.