Solar Panel Cost Guide in Lumberton, NC (2024 Update)
- Lumberton Solar Installation Cost: $16,698
- 25-Year Savings: $21,026
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Lumberton
Here’s how much it might cost to install solar panels in Lumberton.
The national average cost of solar panels is $2.66 per watt, but in Lumberton it’s 4 per watt.The average Lumberton homeowner needs a 6.8-kilowatt system, which would cost about $16,698 with the federal tax credit, or $23,878 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you will vary based on your specific situation and what company you choose to go with.Many homeowners find installing solar panels is a solid investment. The average homeowner in Lumberton can save around $19,000 on their energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lumberton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,189 |
| 3 years | $-12,171 |
| 5 years | $-9,153 |
| 7 years | $-6,135 |
| 9 years | $-3,117 |
| 11 years | $-100 |
| 13 years | $2,918 |
| 15 years | $5,936 |
| 17 years | $8,954 |
| 19 years | $11,972 |
| 21 years | $14,990 |
| 23 years | $18,008 |
| 25 years | $21,026 |
Top Solar Installers in Lumberton
Putting up solar panels yourself can be a challenging project, which is why using a solar installation company is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for your family.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Lumberton
Factors that Affect Solar Panel Costs in Lumberton
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Lumberton: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Lumberton, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $3,510 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just 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 panels out of pocket can be difficult. Solar loans are offered by most installers in Lumberton, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Lumberton, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $15,040 | 12.6 years |
| 8 kW | $3.58 | $20,049 | $20,447 | 12.4 years |
| 10 kW | $3.51 | $24,570 | $26,050 | 12.1 years |
| 12 kW | $3.44 | $28,894 | $31,850 | 11.9 years |
| 14 kW | $3.37 | $33,022 | $37,846 | 11.6 years |
| 16 kW | $3.30 | $36,953 | $44,039 | 11.4 years |
| 18 kW | $3.23 | $40,688 | $50,428 | 11.2 years |
| 20 kW | $3.16 | $44,226 | $57,014 | 10.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Lumberton, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when adopting solar energy 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 acquire and what the project timeline is.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The type of solar panel you want to get plays a role in which installer you should opt for, since different companies have access to different panels.
- Reputation: Long-standing companies 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.
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 Lumberton, NC Solar Cost FAQs
How much does it cost to install solar panels in Lumberton?
The average cost of solar panels in Lumberton 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 like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Lumberton?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.