Solar Panel Cost Guide in Hickory, NC (2024 Update)
- Hickory Solar Installation Cost: $17,029
- 25-Year Savings: $20,269
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Hickory
Let’s have a look at the average cost of solar in Hickory.
Although the national average of solar panels is $2.66 per watt, solar panels in Hickory typically cost around 4.The average solar panel system size in Hickory is around 6.9 kilowatts, meaning a cost of about $17,029 for a solar installation, or $24,351 before the 0 federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Hickory depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.Even with the large upfront cost, the average Hickory homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Hickory
| Year | Return on Investment |
|---|---|
| 1 years | $-15,707 |
| 3 years | $-13,062 |
| 5 years | $-10,418 |
| 7 years | $-7,774 |
| 9 years | $-5,130 |
| 11 years | $-2,485 |
| 13 years | $159 |
| 15 years | $2,803 |
| 17 years | $5,447 |
| 19 years | $8,092 |
| 21 years | $10,736 |
| 23 years | $13,380 |
| 25 years | $16,024 |
Top Solar Installers in Hickory
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Hickory:
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 Hickory
Factors that Affect Solar Panel Costs in Hickory
There are many factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
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 uses, the larger your system will likely need to be. You can expect to pay about $3,510 per kilowatt in Hickory.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Hickory, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. 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 provided by most installers in Hickory, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Hickory, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $12,883 | 13.6 years |
| 8 kW | $3.58 | $20,049 | $17,571 | 13.3 years |
| 10 kW | $3.51 | $24,570 | $22,455 | 13.1 years |
| 12 kW | $3.44 | $28,894 | $27,535 | 12.8 years |
| 14 kW | $3.37 | $33,022 | $32,813 | 12.5 years |
| 16 kW | $3.30 | $36,953 | $38,286 | 12.3 years |
| 18 kW | $3.23 | $40,688 | $43,957 | 12.0 years |
| 20 kW | $3.16 | $44,226 | $49,824 | 11.8 years |
How to Save on Solar Panels
The solar company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
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 Hickory, NC Solar Cost FAQs
What is the average cost of installing solar panels in Hickory?
The average cost of solar panels in Hickory is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Hickory?
You can’t get solar panels for free in Hickory. 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.
Is it worth going solar in Hickory?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.