Solar Panel Cost Guide in Waxhaw, NC (2025 Update)
- Waxhaw Solar Installation Cost: $16,657
- 25-Year Savings: $16,396
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Waxhaw
Let’s take a look at the average cost of solar in Waxhaw.
While the national average of solar panels is $2.66 per watt, solar panels in Waxhaw typically cost around 4.Because a 6.8-kW system is needed to cover the energy usage of a typical home in Waxhaw, the average price of going solar will be about $16,657 after claiming the federal solar tax credit of 0.
These figures are only estimates, and your own solar costs will most likely look different based on your energy needs and what company you want to go with.Despite the significant initial cost, the average Waxhaw homeowner can save about $19,000 on their energy bills over 20 years, which is one of the positives of solar.
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Solar savings over time in Waxhaw
| Year | Return on Investment |
|---|---|
| 1 years | $-15,335 |
| 3 years | $-12,691 |
| 5 years | $-10,047 |
| 7 years | $-7,403 |
| 9 years | $-4,758 |
| 11 years | $-2,114 |
| 13 years | $530 |
| 15 years | $3,174 |
| 17 years | $5,819 |
| 19 years | $8,463 |
| 21 years | $11,107 |
| 23 years | $13,751 |
| 25 years | $16,396 |
Top Solar Installers in Waxhaw
When going solar, many homeowners prefer to go with a solar installer since handling can be a challenging project. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Waxhaw
Factors that Affect Solar Panel Costs in Waxhaw
Though the average cost of a solar system in Waxhaw is $16,657, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,510.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Waxhaw, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Waxhaw, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.Although solar loans make adopting solar energy more accessible for Waxhaw homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Waxhaw, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $14,311 | 12.9 years |
| 8 kW | $3.58 | $20,049 | $19,475 | 12.7 years |
| 10 kW | $3.51 | $24,570 | $24,835 | 12.4 years |
| 12 kW | $3.44 | $28,894 | $30,392 | 12.2 years |
| 14 kW | $3.37 | $33,022 | $36,145 | 11.9 years |
| 16 kW | $3.30 | $36,953 | $42,095 | 11.7 years |
| 18 kW | $3.23 | $40,688 | $48,241 | 11.4 years |
| 20 kW | $3.16 | $44,226 | $54,584 | 11.2 years |
How to Save on Solar Panels
There are many companies to choose from in Waxhaw, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Waxhaw, NC Solar Cost FAQs
What is the average cost of installing solar panels in Waxhaw?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Waxhaw?
Leasing solar panels can be an appealing choice, because it typically 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 option if you want to maximize your savings.
Is it worth going solar in Waxhaw?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last 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 higher level 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.