Solar Panel Cost Guide in Red Oak, NC (2023 Update)
- Red Oak Solar Installation Cost: $12,535
- 25-Year Savings: $22,881
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Red Oak
Let's take a look at the average cost of solar panels in Red Oak.
The average cost of a solar panel system in Red Oak is 2.54 per watt. The average Red Oak homeowner needs a 7.0-kilowatt system, which would cost about $12,535 with the federal tax credit, or $17,925 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. Many homeowners find installing solar panels is a solid investment. The average homeowner in Red Oak can save about $19,000 on their power bills over 20 years.
To receive a free estimate from a top solar company in Red Oak, you can click the button below.
Solar savings over time in Red Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-11,118 |
| 3 years | $-8,285 |
| 5 years | $-5,452 |
| 7 years | $-2,619 |
| 9 years | $215 |
| 11 years | $3,048 |
| 13 years | $5,881 |
| 15 years | $8,714 |
| 17 years | $11,548 |
| 19 years | $14,381 |
| 21 years | $17,214 |
| 23 years | $20,047 |
| 25 years | $22,881 |
Top Solar Installers in Red Oak
Trying to put up solar panels on your own can be a dangerous undertaking, which is why using a solar installer is a good option for many homeowners. Plus, if you're unsure what brand of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our suggestions for providers nearby:
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 Red Oak
Factors that Affect Solar Panel Costs in Red Oak
For many Red Oak homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Red Oak, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. There are many different solar panel brands and the one you choose also changes the cost. Generally, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Red Oak, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to add 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 off the loan.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Red Oak is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services for different budgets. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you want 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 | $19,036 | 9.2 years |
| 8 kW | $2.59 | $14,508 | $25,666 | 9.0 years |
| 10 kW | $2.54 | $17,780 | $32,438 | 8.9 years |
| 12 kW | $2.49 | $20,909 | $39,353 | 8.7 years |
| 14 kW | $2.44 | $23,896 | $46,409 | 8.5 years |
| 16 kW | $2.39 | $26,741 | $53,608 | 8.3 years |
| 18 kW | $2.34 | $29,444 | $60,949 | 8.1 years |
| 20 kW | $2.29 | $32,004 | $68,432 | 8.0 years |
How to Save on Solar Panels
There are many companies available in Red Oak, 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:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy 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.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Red Oak, NC Solar Cost FAQs
How much does it cost to install solar panels in Red Oak?
This is a tough question to answer precisely, because the cost depends on a variety of 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 more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Red Oak?
A solar panel system isn't free in Red Oak, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Red Oak, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.