Solar Panel Cost Guide in Salisbury, NC (2024 Update)
- Salisbury Solar Installation Cost: $16,881
- 25-Year Savings: $19,035
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Salisbury
Let’s take a look at the average cost of solar in Salisbury.
In Salisbury, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Salisbury, most homeowners require a 6.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,881, or $24,140 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy consumption and what company you go with.But, once you've paid the initial cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on power bills.
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Solar savings over time in Salisbury
| Year | Return on Investment |
|---|---|
| 1 years | $-15,559 |
| 3 years | $-12,914 |
| 5 years | $-10,270 |
| 7 years | $-7,626 |
| 9 years | $-4,982 |
| 11 years | $-2,337 |
| 13 years | $307 |
| 15 years | $2,951 |
| 17 years | $5,595 |
| 19 years | $8,240 |
| 21 years | $10,884 |
| 23 years | $13,528 |
| 25 years | $16,172 |
Top Solar Installers in Salisbury
Although it's possible to install solar panels yourself, it requires extra labor and knowledge. For that reason, the majority of homeowners choose to go with a solar panel installer. Plus, if you’re unsure what type of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Salisbury:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Salisbury
Factors that Affect Solar Panel Costs in Salisbury
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Salisbury: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,510.There are a lot of different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Salisbury, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Salisbury, and each can charge varying amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $11,960 | 14.0 years |
| 8 kW | $3.58 | $20,049 | $16,339 | 13.8 years |
| 10 kW | $3.51 | $24,570 | $20,916 | 13.5 years |
| 12 kW | $3.44 | $28,894 | $25,689 | 13.2 years |
| 14 kW | $3.37 | $33,022 | $30,658 | 13.0 years |
| 16 kW | $3.30 | $36,953 | $35,824 | 12.7 years |
| 18 kW | $3.23 | $40,688 | $41,186 | 12.4 years |
| 20 kW | $3.16 | $44,226 | $46,745 | 12.2 years |
How to Save on Solar Panels
The solar company you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Warranty: If you’re concerned about the durability of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you prefer a specific brand, make sure the solar 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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Salisbury, NC Solar Cost FAQs
How much does it cost to install solar panels in Salisbury?
This is a hard 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Salisbury?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Is it worth going solar in Salisbury?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.