Solar Panel Cost Guide in Randleman, NC (Mar 2023)
- Randleman Solar Installation Cost: $12,286
- 25-Year Savings: $20,628
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Randleman
Here's how much it might cost to install solar panels in Randleman.
The average cost of a solar system in Randleman is 2.54 per watt. The average solar panel system size in Randleman is around 6.9 kilowatts, meaning a cost of about $12,286 for a solar installation, or $17,569 before the 30% federal solar tax credit is applied.
The true price you pay can be above or below the average in Randleman based on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire. Many homeowners find going solar is a solid investment. The average homeowner in Randleman can save about $18,000 on their energy bills over 20 years.
To receive a free estimate from a pre-vetted solar installer in Randleman, you can click the button below.
Solar savings over time in Randleman
| Year | Return on Investment |
|---|---|
| 1 years | $-10,969 |
| 3 years | $-8,336 |
| 5 years | $-5,703 |
| 7 years | $-3,070 |
| 9 years | $-437 |
| 11 years | $2,196 |
| 13 years | $4,829 |
| 15 years | $7,462 |
| 17 years | $10,095 |
| 19 years | $12,728 |
| 21 years | $15,362 |
| 23 years | $17,995 |
| 25 years | $20,628 |
Top Solar Installers in Randleman
Putting up solar panels on your own can be a stressful project, which is why using a solar installer is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 Randleman
Factors that Affect Solar Panel Costs in Randleman
Although the average cost of a solar system in Randleman is $12,286, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,540. The brand and kind of equipment you want for your solar system can raise or lower 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Randleman offer solar loans, which reduce your upfront costs of installing a solar system. It's a good idea to factor 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Randleman is the company you hire to install your solar system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services at different price points. Additionally, some companies in Randleman are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $17,477 | 9.7 years |
| 8 kW | $2.59 | $14,508 | $23,587 | 9.5 years |
| 10 kW | $2.54 | $17,780 | $29,840 | 9.3 years |
| 12 kW | $2.49 | $20,909 | $36,234 | 9.1 years |
| 14 kW | $2.44 | $23,896 | $42,771 | 9.0 years |
| 16 kW | $2.39 | $26,741 | $49,451 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $56,272 | 8.6 years |
| 20 kW | $2.29 | $32,004 | $63,236 | 8.4 years |
How to Save on Solar Panels
There are many companies available in Randleman, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
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 Randleman, NC Solar Cost FAQs
How much does it cost to install solar panels in Randleman?
This is a difficult question to answer exactly, because the cost depends on many 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Randleman, that will require at least a 10-kW system. Not all homes will have roofs that 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.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.