Solar Panel Cost Guide in Pinehurst, NC (Mar 2023)
- Pinehurst Solar Installation Cost: $12,286
- 25-Year Savings: $21,238
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Pinehurst
Find out how much it might cost to install solar panels in Pinehurst.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Pinehurst, the average cost of a solar system is 2.54 per watt. Since a 6.9-kW system is needed to cover the energy consumption of a typical home in Pinehurst, the average price of going solar will be about $12,286 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and how much solar costs for you will most likely vary based on your energy needs and what company you want to go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Pinehurst can save around $18,000 on their electricity bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Pinehurst
| Year | Return on Investment |
|---|---|
| 1 years | $-10,945 |
| 3 years | $-8,263 |
| 5 years | $-5,581 |
| 7 years | $-2,899 |
| 9 years | $-217 |
| 11 years | $2,465 |
| 13 years | $5,147 |
| 15 years | $7,829 |
| 17 years | $10,511 |
| 19 years | $13,192 |
| 21 years | $15,874 |
| 23 years | $18,556 |
| 25 years | $21,238 |
Top Solar Installers in Pinehurst
Installing solar panels on your own can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you decide which one will be best for you.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Pinehurst
Factors that Affect Solar Panel Costs in Pinehurst
The cost of installing a solar system in Pinehurst can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Pinehurst to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Pinehurst is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Pinehurst know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $18,020 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,311 | 9.3 years |
| 10 kW | $2.54 | $17,780 | $30,744 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $37,320 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $44,038 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $50,898 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $57,900 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $65,045 | 8.2 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Pinehurst, NC Solar Cost FAQs
What is the average cost of installing solar panels in Pinehurst?
The average cost of solar panels in Pinehurst 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Pinehurst?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will having solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pinehurst is currently $251,006, which means you can expect a value of about $10,291 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Pinehurst is a rewarding investment.
How often do you have to replace solar panels?
Although 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 choose 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.