Solar Panel Cost Guide in River Road, NC (Feb 2023)
- River Road Solar Installation Cost: $12,215
- 25-Year Savings: $22,938
- Payback Period: 8.7 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in River Road
Let's take a look at the average cost of solar in River Road.
Currently, the national average cost of solar panels is $2.66 per watt. However, in River Road, the typical cost of a solar system is $3 per watt. The average solar panel system size in River Road is around 6.9 kilowatts, meaning a cost of about $12,215 for a solar installation, or $9,039 after the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of equipment you choose, your solar contractor and more. Many homeowners find adopting solar power is a sound investment. The average homeowner in River Road can save around $19,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar company in River Road for a quote for your home.
Solar savings over time in River Road
| Year | Return on Investment |
|---|---|
| 1 years | $-10,809 |
| 3 years | $-7,997 |
| 5 years | $-5,184 |
| 7 years | $-2,372 |
| 9 years | $440 |
| 11 years | $3,252 |
| 13 years | $6,064 |
| 15 years | $8,877 |
| 17 years | $11,689 |
| 19 years | $14,501 |
| 21 years | $17,313 |
| 23 years | $20,125 |
| 25 years | $22,938 |
Top Solar Installers in River Road
Many homeowners choose to hire a solar panel installer since trying to install solar panels yourself can be hard. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're looking for a solar company in River Road, the EcoWatch team has compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 River Road
Factors that Affect Solar Panel Costs in River Road
Even though the average cost of a solar system in River Road is $12,215, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's a priority to accurately gauge 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 pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many River Road homeowners opt to finance their solar panel systems to make going solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in River Road, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $19,587 | 9.0 years |
| 8 kW | $2.59 | $14,508 | $26,401 | 8.9 years |
| 10 kW | $2.54 | $17,780 | $33,357 | 8.7 years |
| 12 kW | $2.49 | $20,909 | $40,455 | 8.5 years |
| 14 kW | $2.44 | $23,896 | $47,695 | 8.3 years |
| 16 kW | $2.39 | $26,741 | $55,078 | 8.2 years |
| 18 kW | $2.34 | $29,444 | $62,603 | 8.0 years |
| 20 kW | $2.29 | $32,004 | $70,270 | 7.8 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's River Road, NC Solar Cost FAQs
How much does it cost to install solar panels in River Road?
This is a hard question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does River Road have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How often do you have to replace solar panels?
Although 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 how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.