Solar Panel Cost Guide in Silver Lake, NC (2025 Update)
- Silver Lake Solar Installation Cost: $15,655
- 25-Year Savings: $22,060
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Silver Lake
Let’s take a look at the average cost of solar panels in Silver Lake.
In Silver Lake, solar panels cost about 4 per watt on average.Using this figure, a typical 6.4-kW system would cost about $15,655 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar panels you want, your solar contractor and more.Despite the high initial cost, the average Silver Lake homeowner can save around $20,000 on their electricity bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a vetted solar company in your area for a custom quote.
Solar savings over time in Silver Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-14,184 |
| 3 years | $-11,242 |
| 5 years | $-8,300 |
| 7 years | $-5,358 |
| 9 years | $-2,416 |
| 11 years | $527 |
| 13 years | $3,469 |
| 15 years | $6,411 |
| 17 years | $9,353 |
| 19 years | $12,295 |
| 21 years | $15,238 |
| 23 years | $18,180 |
| 25 years | $21,122 |
Top Solar Installers in Silver Lake
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over time.
If you’d like to start using solar energy but still aren’t sure which solar company to go with, here are our suggestions for providers near you:
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 Silver Lake
Factors that Affect Solar Panel Costs in Silver Lake
For many Silver Lake homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Silver Lake, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $3,510 per kilowatt in Silver Lake.There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far 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 Silver Lake homeowners opt to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your overall costs, so it’s crucial to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can influence your pricing. Silver Lake’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that provides the products, warranties and services you want and also fits within 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 | $16,109 | 12.2 years |
| 8 kW | $3.58 | $20,049 | $21,872 | 12.0 years |
| 10 kW | $3.51 | $24,570 | $27,831 | 11.7 years |
| 12 kW | $3.44 | $28,894 | $33,987 | 11.5 years |
| 14 kW | $3.37 | $33,022 | $40,339 | 11.3 years |
| 16 kW | $3.30 | $36,953 | $46,889 | 11.0 years |
| 18 kW | $3.23 | $40,688 | $53,634 | 10.8 years |
| 20 kW | $3.16 | $44,226 | $60,576 | 10.5 years |
How to Save on Solar Panels
The solar company you go with will impact 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 several important things you should take into account, such as:
- Solar Panel Brands: The type of solar panel you’d like plays a part in which installer you should go with, since different companies have access to different panels.
- Contract: Look through the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Silver Lake, NC Solar Cost FAQs
How much does it cost to install solar panels in Silver Lake?
This is a difficult question to answer precisely, because the cost depends on a variety of 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Silver Lake?
You can’t get solar panels for free in Silver Lake. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,048.02 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.