Solar Panel Cost Guide in Cramerton, NC (Mar 2023)
- Cramerton Solar Installation Cost: $12,108
- 25-Year Savings: $19,843
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Cramerton
We break down average solar pricing in Cramerton.
The average cost of a solar system in Cramerton is 2.54 per watt. To account for the typical energy needs of the average home in Cramerton, most homeowners require a 6.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,108, or $17,314 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Cramerton homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $18,000 on power bills over 20 years, many homeowners in Cramerton find investing in solar has a decent ROI.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cramerton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,830 |
| 3 years | $-8,274 |
| 5 years | $-5,718 |
| 7 years | $-3,162 |
| 9 years | $-606 |
| 11 years | $1,950 |
| 13 years | $4,506 |
| 15 years | $7,062 |
| 17 years | $9,619 |
| 19 years | $12,175 |
| 21 years | $14,731 |
| 23 years | $17,287 |
| 25 years | $19,843 |
Top Solar Installers in Cramerton
Installing solar panels by yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're searching for a solar installer in Cramerton, the EcoWatch team has put together a list of our top suggestions here:
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 Cramerton
Factors that Affect Solar Panel Costs in Cramerton
There are a number of criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need 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. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Cramerton, where sunlight is abundant, efficiency can quickly pay off. In addition, 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
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Cramerton homeowners opt to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can impact your pricing. Cramerton's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also fit into 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 | $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
The solar panel company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you want to get plays a part in which company you should opt for, since different companies have different panels.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 Cramerton, NC Solar Cost FAQs
How much does it cost to install solar panels in Cramerton?
The average cost of solar panels in Cramerton is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Cramerton?
Leasing solar panels can be an attractive choice, because it typically 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 option if you want to get the most savings.
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.