Solar Panel Cost Guide in Mineral Springs, NC (2023 Update)
- Mineral Springs Solar Installation Cost: $12,054
- 25-Year Savings: $21,124
- Payback Period: 9.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mineral Springs
Let's take a look at the average cost of solar panels in Mineral Springs.
While the national average of solar panels is $2.66 per watt, solar panels in Mineral Springs generally cost about 2.54. Using this figure, a typical 6.8-kW system would cost about $12,055 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Mineral Springs can save about $19,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Mineral Springs that can help you get a more accurate cost estimate for your home.
Solar savings over time in Mineral Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-10,732 |
| 3 years | $-8,088 |
| 5 years | $-5,443 |
| 7 years | $-2,799 |
| 9 years | $-155 |
| 11 years | $2,489 |
| 13 years | $5,134 |
| 15 years | $7,778 |
| 17 years | $10,422 |
| 19 years | $13,066 |
| 21 years | $15,711 |
| 23 years | $18,355 |
| 25 years | $20,999 |
Top Solar Installers in Mineral Springs
When switching to solar energy, many homeowners opt to use a solar installation company since installing solar panels yourself can be a challenging project. Companies can also provide access to quality options of the best solar panels and help you decide which one will be best for your home.
If you're searching for a solar installer in Mineral Springs, we've organized a list of our top suggestions here:
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 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 dependent on several factors. The biggest one is the size of the system your home 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 cost of solar panels in Mineral Springs, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,540 for each additional kilowatt you need. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Mineral Springs average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Mineral Springs, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your overall costs, so it's vital to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can influence the cost. Mineral Springs' solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $18,268 | 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 companies available in Mineral Springs, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- 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 considerable role in the company you go with.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- 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.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Mineral Springs, NC Solar Cost FAQs
What is the average cost of installing solar panels in Mineral Springs?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Mineral Springs?
You can't get solar panels for free in Mineral Springs. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Mineral Springs, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 generally produce about 250 to 400 watt-hours per hour, the average home 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.