Solar Panel Cost Guide in Stokesdale, NC (2024 Update)
- Stokesdale Solar Installation Cost: $17,128
- 25-Year Savings: $18,273
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Stokesdale
Let’s have a look at the average cost of solar panels in Stokesdale.
The average cost of solar panels in Stokesdale is 4 per watt.Since a 7.0-kW system is needed to cover the energy costs of a typical home in Stokesdale, the average price of going solar will be about $17,128 after claiming the federal solar tax credit of 0.
How much you pay can be above or below the average in Stokesdale based on several factors, such as the brand of solar panels you choose and the solar company you hire.Despite the significant initial cost, the average Stokesdale homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Stokesdale
| Year | Return on Investment |
|---|---|
| 1 years | $-15,806 |
| 3 years | $-13,162 |
| 5 years | $-10,518 |
| 7 years | $-7,873 |
| 9 years | $-5,229 |
| 11 years | $-2,585 |
| 13 years | $59 |
| 15 years | $2,704 |
| 17 years | $5,348 |
| 19 years | $7,992 |
| 21 years | $10,636 |
| 23 years | $13,281 |
| 25 years | $15,925 |
Top Solar Installers in Stokesdale
Putting up solar panels on your own can be a time-consuming project, which is why hiring a solar installation company is a good option for many homeowners. Solar warranties and repairs are usually included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Stokesdale
Factors that Affect Solar Panel Costs in Stokesdale
For many Stokesdale homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Stokesdale, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,510.There are several different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you’re looking 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
Many homeowners find the average cost of solar in Stokesdale to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Stokesdale is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for example, you’ll have no shortage of solar installers that offer a range of services at different costs.The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $11,063 | 14.5 years |
| 8 kW | $3.58 | $20,049 | $15,144 | 14.2 years |
| 10 kW | $3.51 | $24,570 | $19,421 | 14.0 years |
| 12 kW | $3.44 | $28,894 | $23,895 | 13.7 years |
| 14 kW | $3.37 | $33,022 | $28,566 | 13.4 years |
| 16 kW | $3.30 | $36,953 | $33,433 | 13.1 years |
| 18 kW | $3.23 | $40,688 | $38,497 | 12.8 years |
| 20 kW | $3.16 | $44,226 | $43,757 | 12.6 years |
How to Save on Solar Panels
Since the kind 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 pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to 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 Stokesdale, NC Solar Cost FAQs
What is the average cost of installing solar panels in Stokesdale?
This is a hard question to answer precisely, because the cost depends on many 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Stokesdale?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback 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 way to go if you want to maximize your savings.
How will having solar panels impact the value of my home?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.