Solar Panel Cost Guide in Randleman, NC (2023 Update)
- Randleman Solar Installation Cost: $12,289
- 25-Year Savings: $20,625
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Randleman
We go over average solar pricing in Randleman.
In Randleman, solar panels cost about 2.54 per watt on average. The average Randleman homeowner needs a 6.9-kilowatt system, which would cost about $12,286 with the federal tax credit, or $17,569 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary quite a bit depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with. Despite the high initial cost, the average Randleman homeowner can save around $18,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Randleman
| Year | Return on Investment |
|---|---|
| 1 years | $-10,892 |
| 3 years | $-8,099 |
| 5 years | $-5,306 |
| 7 years | $-2,513 |
| 9 years | $280 |
| 11 years | $3,074 |
| 13 years | $5,867 |
| 15 years | $8,660 |
| 17 years | $11,453 |
| 19 years | $14,247 |
| 21 years | $17,040 |
| 23 years | $19,833 |
| 25 years | $22,626 |
Top Solar Installers in Randleman
Installing solar panels on your own can be a stressful undertaking, which is why hiring a solar installer is a good option for many homeowners. A solar company can also help save you money in the long run by offering warranties, repairs and system component replacements.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Randleman
Factors that Affect Solar Panel Costs in Randleman
The cost of installing a solar system in Randleman can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,540 per kilowatt in Randleman. The type 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. However, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Randleman average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Though solar loans make adopting solar energy more accessible for Randleman homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you get to install your solar system can impact how much you pay. Randleman's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for and also fits within your budget.
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 solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Solar Panel Brands: Different companies have different brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
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 Randleman, NC Solar Cost FAQs
What is the average cost of installing solar panels in Randleman?
The average cost of solar panels in Randleman is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Randleman?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires 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.