Solar Panel Cost Guide in Hamlet, NC (2024 Update)
- Hamlet Solar Installation Cost: $16,785
- 25-Year Savings: $20,992
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Hamlet
Let’s have a look at the average cost of solar panels in Hamlet.
While the national average of solar panels is $2.66 per watt, solar panels in Hamlet generally cost around 4.Using this figure, a typical 6.8-kW system would cost about $16,785 before the 0 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 consumption, the type of equipment you want, your solar contractor and more.With average savings of about $18,000 on utility bills over 20 years, many homeowners in Hamlet find going solar can be quite rewarding.
To get a free quote from a top solar company in Hamlet, you can click the button below.
Solar savings over time in Hamlet
Year | Return on Investment |
---|---|
1 years | $-15,314 |
3 years | $-12,371 |
5 years | $-9,429 |
7 years | $-6,487 |
9 years | $-3,545 |
11 years | $-603 |
13 years | $2,339 |
15 years | $5,282 |
17 years | $8,224 |
19 years | $11,166 |
21 years | $14,108 |
23 years | $17,050 |
25 years | $19,993 |
Top Solar Installers in Hamlet
When switching to solar energy, many homeowners opt to go with a solar company since handling can be a difficult project. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar company too, which can save you more money over time.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our suggestions for providers in Hamlet:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Hamlet
Factors that Affect Solar Panel Costs in Hamlet
Although the average cost of a solar system in Hamlet is $16,785, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $3,510 per kilowatt in Hamlet.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Hamlet to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest.It’s a good idea 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 how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you pick will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have 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 | $3.65 | $15,332 | $13,773 | 13.2 years |
8 kW | $3.58 | $20,049 | $18,758 | 12.9 years |
10 kW | $3.51 | $24,570 | $23,939 | 12.7 years |
12 kW | $3.44 | $28,894 | $29,316 | 12.4 years |
14 kW | $3.37 | $33,022 | $34,890 | 12.2 years |
16 kW | $3.30 | $36,953 | $40,661 | 11.9 years |
18 kW | $3.23 | $40,688 | $46,628 | 11.6 years |
20 kW | $3.16 | $44,226 | $52,791 | 11.4 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: Before you sign a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Hamlet, NC Solar Cost FAQs
What is the average cost of installing solar panels in Hamlet?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Hamlet, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production 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.