Solar Panel Cost Guide in Cramerton, NC (2023 Update)
- Cramerton Solar Installation Cost: $12,111
- 25-Year Savings: $19,840
- Payback Period: 9.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cramerton
We break down average solar pricing in Cramerton.
Although the national average of solar panels is $2.66 per watt, solar panels in Cramerton typically cost about 2.54. Using this figure, a typical 6.8-kW system would cost about $12,108 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Cramerton can save about $18,000 on their energy bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Cramerton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,789 |
| 3 years | $-8,145 |
| 5 years | $-5,500 |
| 7 years | $-2,856 |
| 9 years | $-212 |
| 11 years | $2,432 |
| 13 years | $5,077 |
| 15 years | $7,721 |
| 17 years | $10,365 |
| 19 years | $13,009 |
| 21 years | $15,654 |
| 23 years | $18,298 |
| 25 years | $20,942 |
Top Solar Installers in Cramerton
Although it's possible to install solar panels yourself, it takes extra labor and handiness. Because of that, almost all homeowners choose to go with a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Cramerton
Factors that Affect Solar Panel Costs in Cramerton
For many Cramerton homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Cramerton, with typical prices between $20,000 to $40,000. There are various factors that considerably 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 main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require 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 $2,540. There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much 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 Cramerton to be too steep, even if the investment pays off over time. Thankfully, 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 paying more 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Cramerton, and each can charge varying amounts for labor and equipment. You may see 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 specials 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 | $2.64 | $11,095 | $17,049 | 9.9 years |
| 8 kW | $2.59 | $14,508 | $23,017 | 9.7 years |
| 10 kW | $2.54 | $17,780 | $29,127 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,379 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,773 | 9.1 years |
| 16 kW | $2.39 | $26,741 | $48,309 | 8.9 years |
| 18 kW | $2.34 | $29,444 | $54,988 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $61,809 | 8.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: If you're concerned about the longevity of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
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 Cramerton, NC Solar Cost FAQs
How much does it cost to install solar panels in Cramerton?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 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 usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Cramerton have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.