Solar Panel Cost Guide in Seven Lakes, NC (2024 Update)

  • Seven Lakes Solar Installation Cost: $16,975
  • 25-Year Savings: $23,165
  • Payback Period: 12.0 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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Average Cost of Solar Panels in Seven Lakes

Find out how much it might cost to make the switch to solar in Seven Lakes.

In Seven Lakes, solar panels cost about 4 per watt on average.The average solar panel system size in Seven Lakes is around 6.9 kilowatts, meaning a cost of about $16,975 for a solar installation, or $24,274 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.With average savings of about $19,000 on utility bills over 20 years, many homeowners in Seven Lakes find investing in solar has a decent ROI.

Click the button below to get connected to a vetted solar company in your area for a custom estimate.

Solar savings over time in Seven Lakes

Year Return on Investment
1 years $-15,504
3 years $-12,561
5 years $-9,619
7 years $-6,677
9 years $-3,735
11 years $-793
13 years $2,150
15 years $5,092
17 years $8,034
19 years $10,976
21 years $13,918
23 years $16,861
25 years $19,803

Top Solar Installers in Seven Lakes

Installing solar panels on your own can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. In addition, if you’d like to maximize your investment in solar power, using a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.

Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:

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 Seven Lakes

Factors that Affect Solar Panel Costs in Seven Lakes

There are several criteria that can play into your total 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

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $3,510 per kilowatt in Seven Lakes.There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose 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

Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Seven Lakes homeowners choose to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar installer you pick will impact your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for and also fit into your budget.

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 $15,454 12.5 years
8 kW $3.58 $20,049 $20,999 12.2 years
10 kW $3.51 $24,570 $26,740 12.0 years
12 kW $3.44 $28,894 $32,677 11.7 years
14 kW $3.37 $33,022 $38,812 11.5 years
16 kW $3.30 $36,953 $45,142 11.3 years
18 kW $3.23 $40,688 $51,670 11.0 years
20 kW $3.16 $44,226 $58,393 10.8 years

How to Save on Solar Panels

The solar panel company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:

  • Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
  • Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.

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 Seven Lakes, NC Solar Cost FAQs

What is the average cost of installing solar panels in Seven Lakes?

The average cost of solar panels in Seven Lakes 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 like the model of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Seven Lakes?

Leasing solar panels can be an appealing choice, as it typically 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 Seven Lakes?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.

How often do you have to replace solar panels?

Although 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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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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