Solar Panel Cost Guide in Siler City, NC (2024 Update)
- Siler City Solar Installation Cost: $17,017
- 25-Year Savings: $21,399
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Siler City
See how much it might cost to switch to solar power in Siler City.
Although the national average of solar panels is $2.66 per watt, solar panels in Siler City generally cost around 4.The average Siler City homeowner needs a 6.9-kilowatt system, which would cost about $17,017 with the federal tax credit, or $24,334 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar panels you choose, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in Siler City can save around $18,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Siler City for a quote for your home.
Solar savings over time in Siler City
| Year | Return on Investment |
|---|---|
| 1 years | $-15,545 |
| 3 years | $-12,603 |
| 5 years | $-9,661 |
| 7 years | $-6,719 |
| 9 years | $-3,777 |
| 11 years | $-834 |
| 13 years | $2,108 |
| 15 years | $5,050 |
| 17 years | $7,992 |
| 19 years | $10,934 |
| 21 years | $13,876 |
| 23 years | $16,819 |
| 25 years | $19,761 |
Top Solar Installers in Siler City
When making the switch to solar, many homeowners decide to go with a solar installer since putting up solar panels yourself can be a difficult project. Also, if you’d like to maximize your investment in solar power, opting for a solar company can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Siler City
Factors that Affect Solar Panel Costs in Siler City
Although the average cost of a solar system in Siler City is $17,017, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need 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.The type of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Siler City, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Siler City is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for instance, you’ll have no shortage of solar installers that provide a range of services at different price points.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $13,875 | 13.1 years |
| 8 kW | $3.58 | $20,049 | $18,893 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $24,108 | 12.6 years |
| 12 kW | $3.44 | $28,894 | $29,519 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $35,126 | 12.1 years |
| 16 kW | $3.30 | $36,953 | $40,931 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,932 | 11.6 years |
| 20 kW | $3.16 | $44,226 | $53,129 | 11.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Siler City, NC Solar Cost FAQs
What is the average cost of installing solar panels in Siler City?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels eliminate my energy 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 $973.55 per year.
How often do you have to replace solar panels?
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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.