Solar Panel Cost Guide in Mineral Springs, NC (Feb 2023)

  • Mineral Springs Solar Installation Cost: $12,055
  • 25-Year Savings: $21,123
  • Payback Period: 9.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Mineral Springs

We break down average solar pricing in Mineral Springs.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Mineral Springs, the average cost of a solar system is $3 per watt. The average Mineral Springs homeowner needs a 6.8-kilowatt system, which would cost about $12,055, or $8,921 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what installation company you go with. Even with the large upfront cost, the average Mineral Springs homeowner can save about $19,000 on their power bills over 20 years, which is one of the benefits of solar.

For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Mineral Springs

Year Return on Investment
1 years $-10,728
3 years $-8,073
5 years $-5,419
7 years $-2,765
9 years $-111
11 years $2,544
13 years $5,198
15 years $7,852
17 years $10,506
19 years $13,161
21 years $15,815
23 years $18,469
25 years $21,123

Top Solar Installers in Mineral Springs

Although you can install solar panels by yourself, it takes extra energy and expertise. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.

Working with a professional solar company 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 Mineral Springs

Factors that Affect Solar Panel Costs in Mineral Springs

The cost of installing a solar system in Mineral Springs can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

When it comes to estimating the price of a solar energy system in Mineral Springs, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $2,540 for each additional kilowatt you need. The brand and type of equipment you choose 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for a solar system out of pocket is too expensive, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to 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

Lastly, the company you opt for to install your solar panels can affect how much it costs. Mineral Springs' solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.

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 $18,268 9.4 years
8 kW $2.59 $14,508 $24,642 9.3 years
10 kW $2.54 $17,780 $31,158 9.1 years
12 kW $2.49 $20,909 $37,817 8.9 years
14 kW $2.44 $23,896 $44,617 8.7 years
16 kW $2.39 $26,741 $51,560 8.5 years
18 kW $2.34 $29,444 $58,646 8.4 years
20 kW $2.29 $32,004 $65,873 8.2 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:

  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
  • Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.

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 Mineral Springs, NC Solar Cost FAQs

How much does it cost to install solar panels in Mineral Springs?

The average cost of solar panels in Mineral Springs is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important thing to consider when buying solar panels?

The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.

Is it worth going solar in Mineral Springs?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates 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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.

Follow us