Solar Panel Cost Guide in River Bend, NC (Feb 2023)

  • River Bend Solar Installation Cost: $12,144
  • 25-Year Savings: $19,540
  • Payback Period: 9.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in River Bend

Find out what the average cost of solar panels are in River Bend.

Although the national average of solar panels is $2.66 per watt, solar panels in River Bend typically cost around $3. The average solar panel system size in River Bend is around 6.8 kilowatts, meaning a cost of about $12,144 for a solar installation, or $8,987 after the 30% federal solar tax credit is applied.

These figures are just estimates, and how much solar costs for you will most likely differ based on factors unique to your home and what company you choose to go with. Despite the high upfront cost, the average River Bend homeowner can save about $18,000 on their power bills over 20 years, which is one of the perks of solar.

To get a free estimate from a top solar installation company in River Bend, you can click the button below.

Solar savings over time in River Bend

Year Return on Investment
1 years $-10,876
3 years $-8,342
5 years $-5,807
7 years $-3,272
9 years $-738
11 years $1,797
13 years $4,332
15 years $6,867
17 years $9,401
19 years $11,936
21 years $14,471
23 years $17,005
25 years $19,540

Top Solar Installers in River Bend

When going solar, many homeowners opt to go with a solar installation company since DIY solar panel installation can be a difficult project. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money after your upfront investment.

You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in River Bend

Factors that Affect Solar Panel Costs in River Bend

There are several factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,540. The brand of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in River Bend to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.

Solar Panel Installation Company

Lastly, the company you choose to install your solar system can influence how much you pay. River Bend's solar companies all have different labor costs and add varying upcharges to equipment. Companies that 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 cost more. It's best to do some research and decide on the company that offers 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 $16,738 10.0 years
8 kW $2.59 $14,508 $22,602 9.8 years
10 kW $2.54 $17,780 $28,608 9.6 years
12 kW $2.49 $20,909 $34,757 9.4 years
14 kW $2.44 $23,896 $41,047 9.2 years
16 kW $2.39 $26,741 $47,480 9.0 years
18 kW $2.34 $29,444 $54,055 8.8 years
20 kW $2.29 $32,004 $60,772 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 decide on the right company for you, here are some tips to keep in mind:

  • Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
  • Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a good company.
  • Solar Panel Brands: Different companies will offer various brands and models of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
  • Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's River Bend, NC Solar Cost FAQs

What is the average cost of installing solar panels in River Bend?

The average cost of solar panels in River Bend is about $12,700 for a 5-kW system and $25,400 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in River Bend?

Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Do solar panels increase how much your home is worth?

Solar panels can increase your home value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

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 needs 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 house 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.

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