Solar Panel Cost Guide in Laurinburg, NC (2024 Update)
- Laurinburg Solar Installation Cost: $16,774
- 25-Year Savings: $21,605
- Payback Period: 12.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Laurinburg
Here’s how much it might cost to make the switch to solar in Laurinburg.
In Laurinburg, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Laurinburg, most homeowners require a 6.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,774, or $23,987 before the federal solar tax credit of 0 is applied.
The true cost of your system can go above or below the average in Laurinburg based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $19,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar installer in Laurinburg for a quote for your home.
Solar savings over time in Laurinburg
| Year | Return on Investment |
|---|---|
| 1 years | $-15,303 |
| 3 years | $-12,361 |
| 5 years | $-9,419 |
| 7 years | $-6,477 |
| 9 years | $-3,534 |
| 11 years | $-592 |
| 13 years | $2,350 |
| 15 years | $5,292 |
| 17 years | $8,234 |
| 19 years | $11,176 |
| 21 years | $14,119 |
| 23 years | $17,061 |
| 25 years | $20,003 |
Top Solar Installers in Laurinburg
Although it's possible to install solar panels by yourself, it takes extra labor and handiness. For that reason, the majority of homeowners choose to hire a solar panel installer. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Laurinburg
Factors that Affect Solar Panel Costs in Laurinburg
For many Laurinburg homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Laurinburg, 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 some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation 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.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Laurinburg, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Many homeowners find the average cost of solar in Laurinburg to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only 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 interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.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 specials to compete with those larger companies.
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 | $14,324 | 12.9 years |
| 8 kW | $3.58 | $20,049 | $19,491 | 12.7 years |
| 10 kW | $3.51 | $24,570 | $24,855 | 12.4 years |
| 12 kW | $3.44 | $28,894 | $30,416 | 12.2 years |
| 14 kW | $3.37 | $33,022 | $36,173 | 11.9 years |
| 16 kW | $3.30 | $36,953 | $42,127 | 11.7 years |
| 18 kW | $3.23 | $40,688 | $48,278 | 11.4 years |
| 20 kW | $3.16 | $44,226 | $54,625 | 11.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before deciding.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Laurinburg, NC Solar Cost FAQs
What is the average cost of installing solar panels in Laurinburg?
The average cost of solar panels in Laurinburg 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Laurinburg?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
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 should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide 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.