Solar Panel Cost Guide in Selma, NC (2025 Update)
- Selma Solar Installation Cost: $17,148
- 25-Year Savings: $19,932
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Selma
Find out what the average cost of solar panels are in Selma.
Although the national average of solar panels is $2.66 per watt, solar panels in Selma generally cost about 4.Since a 7.0-kW system is needed to cover the energy needs of a typical home in Selma, the average price of going solar will be about $17,148 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Selma homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on power bills.
To receive a free estimate from a top solar installer in Selma, you can click the button below.
Solar savings over time in Selma
| Year | Return on Investment |
|---|---|
| 1 years | $-15,677 |
| 3 years | $-12,735 |
| 5 years | $-9,793 |
| 7 years | $-6,851 |
| 9 years | $-3,908 |
| 11 years | $-966 |
| 13 years | $1,976 |
| 15 years | $4,918 |
| 17 years | $7,860 |
| 19 years | $10,803 |
| 21 years | $13,745 |
| 23 years | $16,687 |
| 25 years | $19,629 |
Top Solar Installers in Selma
When switching to solar energy, many homeowners opt to use a solar company since overseeing your solar installation yourself can be a challenging project. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor as well, which can save you more money after your initial investment.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Selma
Factors that Affect Solar Panel Costs in Selma
The cost of installing a solar system in Selma can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,510. The type 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. However, more efficient panels could save you more over time on your power bills. In addition, extra products, like solar batteries, can bring your total well above the Selma average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Selma, you’ll have many options to choose from, but each comes at different price points for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,471 | 13.8 years |
| 8 kW | $3.58 | $20,049 | $17,021 | 13.5 years |
| 10 kW | $3.51 | $24,570 | $21,768 | 13.3 years |
| 12 kW | $3.44 | $28,894 | $26,712 | 13.0 years |
| 14 kW | $3.37 | $33,022 | $31,851 | 12.7 years |
| 16 kW | $3.30 | $36,953 | $37,188 | 12.5 years |
| 18 kW | $3.23 | $40,688 | $42,721 | 12.2 years |
| 20 kW | $3.16 | $44,226 | $48,450 | 11.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: If you care about the longevity of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Installation Process: When making the switch to solar, it’s important to maintain an open line of communication with your solar installer. Make sure you understand how the installation process works and the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Selma, NC Solar Cost FAQs
How much does it cost to install solar panels in Selma?
The average cost of solar panels in Selma 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 certain factors such as the kind 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 Selma?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $926.76 per year.
How long do solar panels last in Selma?
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 how much energy they produce 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.