Solar Panel Cost Guide in Red Springs, NC (2023 Update)
- Red Springs Solar Installation Cost: $12,148
- 25-Year Savings: $19,704
- Payback Period: 9.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Red Springs
Here's how much it might cost to switch to solar power in Red Springs.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Red Springs, the typical cost of a solar system is 2.54 per watt. The average Red Springs homeowner needs a 6.8-kilowatt system, which would cost about $12,144 with the federal tax credit, or $17,366 before the 30% tax credit is applied.
How much you pay can be above or below the average in Red Springs depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Red Springs can save about $18,000 on their power 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 Red Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-10,677 |
| 3 years | $-7,734 |
| 5 years | $-4,792 |
| 7 years | $-1,850 |
| 9 years | $1,092 |
| 11 years | $4,034 |
| 13 years | $6,977 |
| 15 years | $9,919 |
| 17 years | $12,861 |
| 19 years | $15,803 |
| 21 years | $18,745 |
| 23 years | $21,688 |
| 25 years | $24,630 |
Top Solar Installers in Red Springs
Many homeowners decide to hire a solar installer since figuring out how to install solar panels by yourself can be a lot of work. Plus, if you aren't sure what brand of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
You can get a free quote from a local solar installer 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
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 Springs
Factors that Affect Solar Panel Costs in Red Springs
For many Red Springs homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Red Springs, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,540 per kilowatt in Red Springs. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Red Springs average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over five to seven years on average. Even though solar loans make going solar more accessible for Red Springs homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — 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 decide on the company that has the products, warranties and services you want and also is 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 | $16,877 | 9.9 years |
| 8 kW | $2.59 | $14,508 | $22,787 | 9.7 years |
| 10 kW | $2.54 | $17,780 | $28,839 | 9.5 years |
| 12 kW | $2.49 | $20,909 | $35,034 | 9.3 years |
| 14 kW | $2.44 | $23,896 | $41,371 | 9.2 years |
| 16 kW | $2.39 | $26,741 | $47,850 | 9.0 years |
| 18 kW | $2.34 | $29,444 | $54,471 | 8.8 years |
| 20 kW | $2.29 | $32,004 | $61,234 | 8.6 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 select the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which installer you should choose, since different companies have access to different panels.
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 Springs, NC Solar Cost FAQs
What is the average cost of installing solar panels in Red Springs?
The average cost of solar panels in Red Springs 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Red Springs?
Solar panels aren't free in Red Springs, 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 help lower the cost.
Is making the switch to solar worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though 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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.