Solar Panel Cost Guide in Rockingham, NC (2023 Update)
- Rockingham Solar Installation Cost: $12,146
- 25-Year Savings: $20,992
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rockingham
We go over average solar pricing in Rockingham.
The average cost of solar panels in Rockingham is 2.54 per watt. The average solar panel system size in Rockingham is around 6.8 kilowatts, meaning a cost of about $12,144 for a solar installation, or $17,366 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in Rockingham based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $18,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar installer in Rockingham for a customized quote.
Solar savings over time in Rockingham
| Year | Return on Investment |
|---|---|
| 1 years | $-10,675 |
| 3 years | $-7,733 |
| 5 years | $-4,791 |
| 7 years | $-1,849 |
| 9 years | $1,094 |
| 11 years | $4,036 |
| 13 years | $6,978 |
| 15 years | $9,920 |
| 17 years | $12,862 |
| 19 years | $15,805 |
| 21 years | $18,747 |
| 23 years | $21,689 |
| 25 years | $24,631 |
Top Solar Installers in Rockingham
Although it's possible to install solar panels yourself, it requires extra time and knowledge. For that reason, almost all homeowners choose to hire a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Rockingham, thereby optimizing your ROI.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our suggestions for providers in Rockingham:
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 Rockingham
Factors that Affect Solar Panel Costs in Rockingham
Although the average cost of a solar system in Rockingham is $12,144, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,540. The model of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to decide on 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 into a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Rockingham provide solar loans, which reduce your upfront costs of installing solar. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Rockingham, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $18,010 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,298 | 9.3 years |
| 10 kW | $2.54 | $17,780 | $30,729 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $37,301 | 9.0 years |
| 14 kW | $2.44 | $23,896 | $44,016 | 8.8 years |
| 16 kW | $2.39 | $26,741 | $50,873 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $57,872 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $65,013 | 8.2 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Warranty: If you care about the longevity of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: The kind of solar panel you want to get plays a role in which installer you should go with, since different companies offer 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 Rockingham, NC Solar Cost FAQs
How much does it cost to install solar panels in Rockingham?
The average cost of solar panels in Rockingham 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 Rockingham?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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.
Does Rockingham 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 offer you credit toward your future energy bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can 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 install between 20 and 35 panels to cover 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.