Solar Panel Cost Guide in Asheboro, NC (2024 Update)
- Asheboro Solar Installation Cost: $16,982
- 25-Year Savings: $20,222
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Asheboro
Let’s have a look at the average cost of solar panels in Asheboro.
The national average cost of solar panels is $2.66 per watt, but in Asheboro it’s 4 per watt.To account for the typical energy usage of the average home in Asheboro, most homeowners require a 6.9-kilowatt system. Using the figure above, a solar installation costs about $16,982, or $24,284 before the federal solar tax credit of 0 is applied.
The actual price you pay can be above or below the average in Asheboro depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire.Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Asheboro can save about $18,000 on their energy bills over 20 years.
Click the button below to get connected to a top solar installer in your area for a personalized estimate.
Solar savings over time in Asheboro
| Year | Return on Investment |
|---|---|
| 1 years | $-15,511 |
| 3 years | $-12,569 |
| 5 years | $-9,627 |
| 7 years | $-6,684 |
| 9 years | $-3,742 |
| 11 years | $-800 |
| 13 years | $2,142 |
| 15 years | $5,084 |
| 17 years | $8,027 |
| 19 years | $10,969 |
| 21 years | $13,911 |
| 23 years | $16,853 |
| 25 years | $19,795 |
Top Solar Installers in Asheboro
Although you can install solar panels on your own, it requires extra effort and know-how. That's one of the reasons the majority of homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Asheboro
Factors that Affect Solar Panel Costs in Asheboro
There are a number of factors that can determine your 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
One of the most significant 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 pay around $3,510 per kilowatt in Asheboro.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. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Asheboro average.
Solar Financing Terms
Many homeowners find the average cost of solar in Asheboro to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s important to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $12,891 | 13.6 years |
| 8 kW | $3.58 | $20,049 | $17,581 | 13.3 years |
| 10 kW | $3.51 | $24,570 | $22,467 | 13.1 years |
| 12 kW | $3.44 | $28,894 | $27,551 | 12.8 years |
| 14 kW | $3.37 | $33,022 | $32,830 | 12.5 years |
| 16 kW | $3.30 | $36,953 | $38,307 | 12.3 years |
| 18 kW | $3.23 | $40,688 | $43,979 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $49,849 | 11.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Asheboro, NC Solar Cost FAQs
How much does it cost to install solar panels in Asheboro?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly 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 extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Asheboro?
Solar panels aren’t free in Asheboro, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Asheboro is currently $229,544, so you could be looking at a value of about $9,411 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Asheboro is a worthwhile investment.
How long do solar panels last in Asheboro?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to 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.