Solar Panel Cost Guide in Boiling Spring Lakes, NC (2024 Update)
- Boiling Spring Lakes Solar Installation Cost: $15,716
- 25-Year Savings: $22,016
- Payback Period: 11.8 Years
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Average Cost of Solar Panels in Boiling Spring Lakes
Let’s take a look at the average cost of solar in Boiling Spring Lakes.
In Boiling Spring Lakes, solar panels cost about 4 per watt on average.The average solar panel system size in Boiling Spring Lakes is around 6.4 kilowatts, meaning a cost of about $15,716 for a solar installation, or $22,474 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what company you go with.Many homeowners find adopting solar power is a sound investment. The average homeowner in Boiling Spring Lakes can save about $20,000 on their electricity bills over 20 years.
To get a free quote from a top solar installer in Boiling Spring Lakes, you can click the button below.
Solar savings over time in Boiling Spring Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-14,245 |
| 3 years | $-11,303 |
| 5 years | $-8,361 |
| 7 years | $-5,418 |
| 9 years | $-2,476 |
| 11 years | $466 |
| 13 years | $3,408 |
| 15 years | $6,350 |
| 17 years | $9,293 |
| 19 years | $12,235 |
| 21 years | $15,177 |
| 23 years | $18,119 |
| 25 years | $21,061 |
Top Solar Installers in Boiling Spring Lakes
Many homeowners choose to hire a solar panel installer since installing solar panels yourself can be time-consuming. The payback period of solar panels will vary depending on factors like your location and energy consumption, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Boiling Spring Lakes
Factors that Affect Solar Panel Costs in Boiling Spring Lakes
For many Boiling Spring Lakes homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Boiling Spring Lakes, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need 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 a lot of different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only 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 Boiling Spring Lakes to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Boiling Spring Lakes, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $15,988 | 12.2 years |
| 8 kW | $3.58 | $20,049 | $21,710 | 12.0 years |
| 10 kW | $3.51 | $24,570 | $27,629 | 11.8 years |
| 12 kW | $3.44 | $28,894 | $33,744 | 11.5 years |
| 14 kW | $3.37 | $33,022 | $40,056 | 11.3 years |
| 16 kW | $3.30 | $36,953 | $46,565 | 11.1 years |
| 18 kW | $3.23 | $40,688 | $53,270 | 10.8 years |
| 20 kW | $3.16 | $44,226 | $60,172 | 10.6 years |
How to Save on Solar Panels
There are many companies available in Boiling Spring Lakes, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: If you’re concerned about the longevity of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
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 Boiling Spring Lakes, NC Solar Cost FAQs
What is the average cost of installing solar panels in Boiling Spring Lakes?
This is a tough question to answer exactly, because the cost depends on a few different 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 other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Boiling Spring Lakes?
You can’t get solar panels for free in Boiling Spring Lakes. 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 want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know 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.