Solar Panel Cost Guide in Valdese, NC (Mar 2023)
- Valdese Solar Installation Cost: $12,339
- 25-Year Savings: $20,276
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Valdese
Let's take a look at the average cost of solar in Valdese.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Valdese, the typical cost of a solar system is 2.54 per watt. Because a 6.9-kW system is needed to cover the energy needs of a typical home in Valdese, the average price of going solar will be about $12,339 after claiming the federal solar tax credit of 30%.
These figures are only averages, and how much solar costs for you will most likely differ based on your energy needs and what company you choose to go with. Even with the high upfront cost, the average Valdese homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar company in Valdese that can help you get a more accurate cost estimate for your home.
Solar savings over time in Valdese
| Year | Return on Investment |
|---|---|
| 1 years | $-11,035 |
| 3 years | $-8,425 |
| 5 years | $-5,816 |
| 7 years | $-3,207 |
| 9 years | $-598 |
| 11 years | $2,011 |
| 13 years | $4,621 |
| 15 years | $7,230 |
| 17 years | $9,839 |
| 19 years | $12,448 |
| 21 years | $15,058 |
| 23 years | $17,667 |
| 25 years | $20,276 |
Top Solar Installers in Valdese
When switching to solar energy, many homeowners choose to use a solar company since installing a solar system yourself can be a time-consuming project. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can take advantage of and by providing warranties and repairs.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some 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 Valdese
Factors that Affect Solar Panel Costs in Valdese
For many Valdese homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Valdese, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,540 per kilowatt in Valdese. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a 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 more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable route because they lower 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 include 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
Finally, the company you get to install your solar system can play a part in determining your pricing. Valdese's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Valdese have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $17,085 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,064 | 9.7 years |
| 10 kW | $2.54 | $17,780 | $29,186 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,450 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,856 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,404 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $55,095 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $61,927 | 8.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Valdese, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
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 Valdese, NC Solar Cost FAQs
How much does it cost to install solar panels in Valdese?
This is a hard question to answer precisely, 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Valdese?
Leasing solar panels can be an appealing choice, because it usually 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will installing solar panels impact my home value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.