Solar Panel Cost Guide in Hampstead, NC (Nov 2022)

  • Hampstead Solar Installation Cost: $11,966
  • 25-Year Savings: $20,792
  • Payback Period: 9.1 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Hampstead

We break down average solar pricing in Hampstead.

While the national average of solar panels is $2.66 per watt, solar panels in Hampstead generally cost around $3. Because a 6.7-kW system is needed to cover the energy needs of a typical home in Hampstead, the average price of going solar will be about $11,966 before claiming the federal solar tax credit of 30%.

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 depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with. Despite the significant initial cost, the average Hampstead homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the positives of solar.

Click the button below to get connected to a highly rated solar installer in your area for a personalized estimate.

Solar savings over time in Hampstead

Year Return on Investment
1 years $-10,656
3 years $-8,035
5 years $-5,414
7 years $-2,794
9 years $-173
11 years $2,447
13 years $5,068
15 years $7,689
17 years $10,309
19 years $12,930
21 years $15,550
23 years $18,171
25 years $20,792

Top Solar Installers in Hampstead

When making the switch to solar, many homeowners decide to go with a solar installation company since installing a solar system yourself can be a time-consuming project. The expertise that solar companies provide can be invaluable as well, particularly if you aren't sure what kind of solar equipment would be right for your home.

Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • 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

The cost of installing a solar system in Hampstead can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment

The size of the solar energy system you need for your household is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,540. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise 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 Hampstead homeowners opt to finance their solar panel systems to make going solar more affordable. Though solar loans make switching to solar energy more accessible for Hampstead homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

Finally, the company you opt for to install your solar panels can impact how much it costs. Hampstead's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 $18,091 9.5 years
8 kW $2.59 $14,508 $24,405 9.3 years
10 kW $2.54 $17,780 $30,862 9.1 years
12 kW $2.49 $20,909 $37,462 9.0 years
14 kW $2.44 $23,896 $44,203 8.8 years
16 kW $2.39 $26,741 $51,087 8.6 years
18 kW $2.34 $29,444 $58,113 8.4 years
20 kW $2.29 $32,004 $65,281 8.2 years

How to Save on Solar Panels

The solar installer you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:

  • Contract: Before signing a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
  • Installation Process: When making the switch to solar, it's necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the project completion timeline.
  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
  • Reputation: Make sure your solar system installer 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 EcoWatch.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • 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?

This is a tough question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Hampstead?

A solar panel system isn't free in Hampstead, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Can you sell solar power back to the grid in Hampstead?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.

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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.

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