Solar Panel Cost Guide in Eastover, NC (2023 Update)
- Eastover Solar Installation Cost: $12,268
- 25-Year Savings: $21,110
- Payback Period: 9.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Eastover
We go over average solar pricing in Eastover.
The average cost of a solar panel system in Eastover is 2.54 per watt. The average solar panel system size in Eastover is around 6.9 kilowatts, meaning a cost of about $12,268 for a solar installation, or $17,543 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. But, once you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $18,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar installer in Eastover for a quote for your home.
Solar savings over time in Eastover
| Year | Return on Investment |
|---|---|
| 1 years | $-10,933 |
| 3 years | $-8,263 |
| 5 years | $-5,593 |
| 7 years | $-2,922 |
| 9 years | $-252 |
| 11 years | $2,418 |
| 13 years | $5,088 |
| 15 years | $7,759 |
| 17 years | $10,429 |
| 19 years | $13,099 |
| 21 years | $15,769 |
| 23 years | $18,440 |
| 25 years | $21,110 |
Top Solar Installers in Eastover
Installing solar panels yourself can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
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 Eastover
Factors that Affect Solar Panel Costs in Eastover
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,540. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Eastover average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Eastover homeowners opt to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your overall costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Eastover, you'll have many options to choose from, but each comes at various price points for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $17,932 | 9.6 years |
| 8 kW | $2.59 | $14,508 | $24,193 | 9.4 years |
| 10 kW | $2.54 | $17,780 | $30,597 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $37,144 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $43,832 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $50,663 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $57,636 | 8.5 years |
| 20 kW | $2.29 | $32,004 | $64,751 | 8.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose significantly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The type of solar panel you'd like plays a part in which installer you should choose, since different companies have access to different panels.
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 Eastover, NC Solar Cost FAQs
How much does it cost to install solar panels in Eastover?
The average cost of solar panels in Eastover 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 Eastover?
Leasing solar panels can be an appealing 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 option if you want to get the most savings.
Can you sell solar power back to the grid in Eastover?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Eastover?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.