Solar Panel Cost Guide in Hampstead, NC (2024 Update)
- Hampstead Solar Installation Cost: $16,546
- 25-Year Savings: $20,784
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Hampstead
Find out what the average cost of installing solar panels is in Hampstead.
In Hampstead, solar panels cost about 4 per watt on average.Since a 6.7-kW system is needed to cover the energy costs of a typical home in Hampstead, the average price of going solar will be about $16,546 after claiming the federal solar tax credit of 0.
How much you pay can go higher or lower than the average in Hampstead depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.But, once you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on energy bills.
Click the button below to get connected to a highly rated solar panel company in Hampstead for a customized estimate.
Solar savings over time in Hampstead
| Year | Return on Investment |
|---|---|
| 1 years | $-15,075 |
| 3 years | $-12,133 |
| 5 years | $-9,191 |
| 7 years | $-6,249 |
| 9 years | $-3,306 |
| 11 years | $-364 |
| 13 years | $2,578 |
| 15 years | $5,520 |
| 17 years | $8,462 |
| 19 years | $11,405 |
| 21 years | $14,347 |
| 23 years | $17,289 |
| 25 years | $20,231 |
Top Solar Installers in Hampstead
Although it's possible to install solar panels by yourself, it involves extra energy and handiness. That's one of the reasons the majority of homeowners choose a solar panel installer. The payback period on an investment in solar panels will vary depending on factors like your location and energy usage, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Hampstead:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Hampstead
Factors that Affect Solar Panel Costs in Hampstead
For many Hampstead homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Hampstead, with typical prices between $20,000 to $40,000. There are numerous 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 few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use 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 $3,510.There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Hampstead, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.While solar loans make switching to solar energy more accessible for Hampstead homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies in Hampstead, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $13,854 | 13.1 years |
| 8 kW | $3.58 | $20,049 | $18,865 | 12.9 years |
| 10 kW | $3.51 | $24,570 | $24,072 | 12.6 years |
| 12 kW | $3.44 | $28,894 | $29,477 | 12.4 years |
| 14 kW | $3.37 | $33,022 | $35,077 | 12.1 years |
| 16 kW | $3.30 | $36,953 | $40,875 | 11.9 years |
| 18 kW | $3.23 | $40,688 | $46,868 | 11.6 years |
| 20 kW | $3.16 | $44,226 | $53,059 | 11.4 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 pick the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of 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 satisfied reviews from past customers.
- Solar Panel Brands: The kind of solar panel you’d like to get plays a part in which company you should choose, since different companies offer different panels.
- Warranty: If you’re worried about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Hampstead, NC Solar Cost FAQs
How much does it cost to install solar panels in Hampstead?
The average cost of solar panels in Hampstead is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Hampstead?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels eliminate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Hampstead, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.