Solar Panel Cost Guide in Raeford, NC (2025 Update)
- Raeford Solar Installation Cost: $16,876
- 25-Year Savings: $19,639
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Raeford
Let’s have a look at the average cost of solar panels in Raeford.
Although the national average of solar panels is $2.66 per watt, solar panels in Raeford generally cost around 4.The average solar panel system size in Raeford is around 6.9 kilowatts, meaning a cost of about $16,876 for a solar installation, or $24,133 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs will most likely vary based on factors unique to your home and what company you go with.With average savings of about $18,000 on utility bills over 20 years, many homeowners in Raeford find going solar has a decent ROI.
Click the button below to get connected to a top solar panel company in Raeford for a personalized quote.
Solar savings over time in Raeford
| Year | Return on Investment |
|---|---|
| 1 years | $-15,405 |
| 3 years | $-12,463 |
| 5 years | $-9,521 |
| 7 years | $-6,578 |
| 9 years | $-3,636 |
| 11 years | $-694 |
| 13 years | $2,248 |
| 15 years | $5,190 |
| 17 years | $8,133 |
| 19 years | $11,075 |
| 21 years | $14,017 |
| 23 years | $16,959 |
| 25 years | $19,901 |
Top Solar Installers in Raeford
Although you can install solar panels by yourself, it involves extra energy and know-how. Because of that, the majority of homeowners choose to go with a solar panel installer. The payback period of solar panels will vary based on factors like your location and energy usage, but working with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you're on the hunt for a solar installer in Raeford, we've compiled a list of our top suggestions here:
See all of the solar companies in Raeford
Factors that Affect Solar Panel Costs in Raeford
There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,510. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a 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. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Raeford to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.However, the interest on solar loans also increases your overall costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Raeford, and each can charge varying amounts for labor and equipment.The company’s size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $12,492 | 13.8 years |
| 8 kW | $3.58 | $20,049 | $17,049 | 13.5 years |
| 10 kW | $3.51 | $24,570 | $21,802 | 13.2 years |
| 12 kW | $3.44 | $28,894 | $26,752 | 13.0 years |
| 14 kW | $3.37 | $33,022 | $31,899 | 12.7 years |
| 16 kW | $3.30 | $36,953 | $37,242 | 12.5 years |
| 18 kW | $3.23 | $40,688 | $42,782 | 12.2 years |
| 20 kW | $3.16 | $44,226 | $48,518 | 11.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Contract: Before signing a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
EcoWatch's Raeford, NC Solar Cost FAQs
What is the average cost of installing solar panels in Raeford?
The average cost of solar panels in Raeford is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Raeford?
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 can’t take advantage of 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 financial benefits from going solar.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels 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 typically produce about 250 to 400 watt-hours per hour, the average house 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.