Solar Panel Cost Guide in Reidsville, NC (2023 Update)
- Reidsville Solar Installation Cost: $12,482
- 25-Year Savings: $20,706
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Reidsville
Let's take a look at the average cost of solar panels in Reidsville.
The average cost of solar panels in Reidsville is 2.54 per watt. The average solar panel system size in Reidsville is around 7.0 kilowatts, meaning a cost of about $12,482 for a solar installation, or $17,849 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Reidsville based on a few factors, such as the type of solar panels you choose and the solar company you hire. Many homeowners find installing solar panels is a sound investment. The average homeowner in Reidsville can save about $18,000 on their power bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Reidsville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,154 |
| 3 years | $-8,499 |
| 5 years | $-5,844 |
| 7 years | $-3,189 |
| 9 years | $-534 |
| 11 years | $2,121 |
| 13 years | $4,776 |
| 15 years | $7,431 |
| 17 years | $10,086 |
| 19 years | $12,741 |
| 21 years | $15,396 |
| 23 years | $18,051 |
| 25 years | $20,706 |
Top Solar Installers in Reidsville
When going solar, many homeowners choose to go with a solar company since installing solar panels yourself can be a challenging project. A solar company can also help save you money over time by offering warranties, repairs and 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 Reidsville
Factors that Affect Solar Panel Costs in Reidsville
For many Reidsville homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Reidsville, 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
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want 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
Most solar installers in Reidsville offer solar loans, which reduce your upfront costs of installing solar. Though solar loans make adopting solar energy more accessible for Reidsville homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Reidsville, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $17,257 | 9.8 years |
| 8 kW | $2.59 | $14,508 | $23,294 | 9.6 years |
| 10 kW | $2.54 | $17,780 | $29,473 | 9.4 years |
| 12 kW | $2.49 | $20,909 | $35,795 | 9.2 years |
| 14 kW | $2.44 | $23,896 | $42,259 | 9.0 years |
| 16 kW | $2.39 | $26,741 | $48,864 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $55,613 | 8.7 years |
| 20 kW | $2.29 | $32,004 | $62,503 | 8.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer 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 Reidsville, NC Solar Cost FAQs
How much does it cost to install solar panels in Reidsville?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly 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 additional 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 cheaper solar panels.
Is it better to lease or buy solar panels in Reidsville?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Reidsville?
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.
How long do solar panels last in Reidsville?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.