Solar Panel Cost Guide in Welcome, NC (2023 Update)
- Welcome Solar Installation Cost: $12,268
- 25-Year Savings: $21,269
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Welcome
Here's how much it might cost to make the switch to solar in Welcome.
In Welcome, solar panels cost about 2.54 per watt on average. The average solar panel system size in Welcome 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 prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary based on several factors, such as how many panels you need, your energy consumption and what company you go with. For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $18,000 in savings on electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Welcome
| Year | Return on Investment |
|---|---|
| 1 years | $-10,927 |
| 3 years | $-8,244 |
| 5 years | $-5,561 |
| 7 years | $-2,878 |
| 9 years | $-195 |
| 11 years | $2,488 |
| 13 years | $5,171 |
| 15 years | $7,854 |
| 17 years | $10,537 |
| 19 years | $13,220 |
| 21 years | $15,903 |
| 23 years | $18,586 |
| 25 years | $21,269 |
Top Solar Installers in Welcome
Many homeowners choose to hire a solar panel company since trying to install solar panels yourself can be hard. Plus, if you're not certain what kind of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you'd like to go solar but still aren't sure which solar installer to go with, here are our recommendations for providers nearby:
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 Welcome
Factors that Affect Solar Panel Costs in Welcome
For many Welcome homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Welcome, with typical prices between $20,000 to $40,000. There are several factors that greatly 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 going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,540 per kilowatt in Welcome. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Welcome, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
Many homeowners find the average cost of solar in Welcome to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Welcome is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services for different budgets. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that provides the products, warranties and services you want and also fits within your budget.
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 | $18,064 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,369 | 9.3 years |
| 10 kW | $2.54 | $17,780 | $30,817 | 9.1 years |
| 12 kW | $2.49 | $20,909 | $37,408 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $44,140 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $51,015 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $58,032 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $65,191 | 8.2 years |
How to Save on Solar Panels
The solar installer you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
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 Welcome, NC Solar Cost FAQs
How much does it cost to install solar panels in Welcome?
The average cost of solar panels in Welcome is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Welcome?
Solar panels aren't free in Welcome, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Welcome?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.