Solar Panel Cost Guide in Lillington, NC (2024 Update)
- Lillington Solar Installation Cost: $17,067
- 25-Year Savings: $21,933
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Lillington
Let’s have a look at the average cost of solar panels in Lillington.
In Lillington, solar panels cost about 4 per watt on average.Using this figure, a typical 6.9-kW system would cost about $17,067 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $19,000 over 20 years on utility bills.
Click the button below to get connected to a highly rated solar panel company in Lillington for a personalized quote.
Solar savings over time in Lillington
| Year | Return on Investment |
|---|---|
| 1 years | $-15,596 |
| 3 years | $-12,654 |
| 5 years | $-9,712 |
| 7 years | $-6,769 |
| 9 years | $-3,827 |
| 11 years | $-885 |
| 13 years | $2,057 |
| 15 years | $4,999 |
| 17 years | $7,941 |
| 19 years | $10,884 |
| 21 years | $13,826 |
| 23 years | $16,768 |
| 25 years | $19,710 |
Top Solar Installers in Lillington
Many homeowners opt for a solar panel installer since trying to put up solar panels on your own can be hard. The expertise that solar installers offer can be invaluable as well, particularly if you aren’t sure what type of solar equipment you need.
If you’d like to make the switch to solar but still aren’t certain which solar panel installer to go with, here are our suggestions for providers nearby:
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 Lillington
Factors that Affect Solar Panel Costs in Lillington
Though the average cost of a solar system in Lillington is $17,067, your final cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Lillington, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $3,510 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Lillington average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Lillington, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Lillington, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Lillington are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $3.65 | $15,332 | $14,281 | 12.9 years |
| 8 kW | $3.58 | $20,049 | $19,435 | 12.7 years |
| 10 kW | $3.51 | $24,570 | $24,785 | 12.4 years |
| 12 kW | $3.44 | $28,894 | $30,332 | 12.2 years |
| 14 kW | $3.37 | $33,022 | $36,075 | 11.9 years |
| 16 kW | $3.30 | $36,953 | $42,015 | 11.7 years |
| 18 kW | $3.23 | $40,688 | $48,151 | 11.4 years |
| 20 kW | $3.16 | $44,226 | $54,484 | 11.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should choose, since different companies provide different panels.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Lillington, NC Solar Cost FAQs
What is the average cost of installing solar panels in Lillington?
The average cost of solar panels in Lillington 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $987.10 per year.
How long do solar panels last in Lillington?
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 amount 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.