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
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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.The average solar panel system size in Laurinburg is around 6.8 kilowatts, meaning a cost of about $16,774 for a solar installation, or $23,987 before the 0 federal solar tax credit 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 kind of solar panels you choose and the solar installer 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 $19,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted 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
Many homeowners opt for a solar installation company since figuring out how to install solar panels yourself can be time-consuming. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Laurinburg
Factors that Affect Solar Panel Costs in Laurinburg
There are many criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar energy 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 $3,510. Some solar brands — like Maxeon from SunPower — are more costly 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
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Laurinburg homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Laurinburg, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also is within your budget.
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 solar company you go with 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 some important things you should take into account, such as:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Make sure you’re on the same page 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 your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
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 Laurinburg, NC Solar Cost FAQs
How much does it cost to install solar panels in Laurinburg?
This is a hard question to answer precisely, because the cost depends on a variety of 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.