Solar Panel Cost Guide in Marvin, NC (2024 Update)

  • Marvin Solar Installation Cost: $16,657
  • 25-Year Savings: $20,024
  • Payback Period: 13.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Marvin

We go over average solar pricing in Marvin.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Marvin, the average cost of a solar system is 4 per watt.The average solar panel system size in Marvin is around 6.8 kilowatts, meaning a cost of about $16,657 for a solar installation, or $23,820 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $18,000 over 20 years on electricity bills.

To receive a free estimate from a vetted solar company in Marvin, you can click the button below.

Solar savings over time in Marvin

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 Marvin

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make switching to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.

There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Marvin

Factors that Affect Solar Panel Costs in Marvin

There are several factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,510. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Marvin, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.Though solar loans make adopting solar energy more accessible for Marvin homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Finally, the company you opt for to install your solar panels can influence how much it costs. Marvin’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount 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 $13,058 13.5 years
8 kW $3.58 $20,049 $17,804 13.2 years
10 kW $3.51 $24,570 $22,746 13.0 years
12 kW $3.44 $28,894 $27,885 12.7 years
14 kW $3.37 $33,022 $33,220 12.5 years
16 kW $3.30 $36,953 $38,752 12.2 years
18 kW $3.23 $40,688 $44,481 11.9 years
20 kW $3.16 $44,226 $50,406 11.7 years

How to Save on Solar Panels

The solar installer you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:

  • Contract: Before you sign a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
  • Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project timeline.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Marvin, NC Solar Cost FAQs

How much does it cost to install solar panels in Marvin?

The average cost of solar panels in Marvin is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in Marvin?

Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback 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.

Can you sell solar power back to the grid in Marvin?

Each state has some kind 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 power bills.

How long do solar panels last in Marvin?

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 choose to replace them after having them for that long or you can continue to use 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.

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