Solar Panel Cost Guide in Boiling Springs, NC (Mar 2023)
- Boiling Springs Solar Installation Cost: $12,090
- 25-Year Savings: $19,052
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Boiling Springs
Find out what the average cost of solar panel installation is in Boiling Springs.
The national average cost of solar panels is $2.66 per watt, but in Boiling Springs it's 2.54 per watt. The average Boiling Springs homeowner needs a 6.8-kilowatt system, which would cost about $12,090 with the federal tax credit, or $17,289 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Boiling Springs homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find going solar is a sound investment. The average homeowner in Boiling Springs can save about $17,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Boiling Springs for a quote for your home.
Solar savings over time in Boiling Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-10,845 |
| 3 years | $-8,353 |
| 5 years | $-5,862 |
| 7 years | $-3,371 |
| 9 years | $-879 |
| 11 years | $1,612 |
| 13 years | $4,103 |
| 15 years | $6,595 |
| 17 years | $9,086 |
| 19 years | $11,578 |
| 21 years | $14,069 |
| 23 years | $16,560 |
| 25 years | $19,052 |
Top Solar Installers in Boiling Springs
Although it's possible to install solar panels yourself, it takes extra time and expertise. That's one of the reasons almost all homeowners choose a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Springs
Factors that Affect Solar Panel Costs in Boiling Springs
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Boiling Springs: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production 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 $2,540. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Boiling Springs, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. Although solar loans make switching to solar energy more accessible for Boiling Springs homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Boiling Springs is the company you get to install your solar system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services for different budgets. The size of the company can sometimes play the most significant role in your total costs. 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 can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $16,365 | 10.1 years |
| 8 kW | $2.59 | $14,508 | $22,104 | 9.9 years |
| 10 kW | $2.54 | $17,780 | $27,986 | 9.7 years |
| 12 kW | $2.49 | $20,909 | $34,010 | 9.5 years |
| 14 kW | $2.44 | $23,896 | $40,176 | 9.3 years |
| 16 kW | $2.39 | $26,741 | $46,484 | 9.1 years |
| 18 kW | $2.34 | $29,444 | $52,935 | 8.9 years |
| 20 kW | $2.29 | $32,004 | $59,527 | 8.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Different companies will have different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- 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 company, such as what permits you should acquire and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Boiling Springs, NC Solar Cost FAQs
How much does it cost to install solar panels in Boiling Springs?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Boiling Springs?
Leasing solar panels can be an appealing choice, as it often 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 way to go if you want to maximize your savings.
Does Boiling Springs have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Boiling Springs?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.