Solar Panel Cost Guide in Rockingham, NC (2023 Update)
- Rockingham Solar Installation Cost: $12,144
- 25-Year Savings: $20,995
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Rockingham
Let's take a look at the average cost of solar panels in Rockingham.
The average cost of a solar system in Rockingham is 2.54 per watt. Since a 6.8-kW system is needed to cover the energy needs of a typical home in Rockingham, the average price of going solar will be about $12,144 after claiming the federal solar tax credit of 30%.
How much you pay can go higher or lower than the average in Rockingham depending on several factors, such as the model of solar panels you choose and the solar company you hire. For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $18,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in Rockingham for a quote for your home.
Solar savings over time in Rockingham
| Year | Return on Investment |
|---|---|
| 1 years | $-10,818 |
| 3 years | $-8,167 |
| 5 years | $-5,516 |
| 7 years | $-2,865 |
| 9 years | $-214 |
| 11 years | $2,437 |
| 13 years | $5,088 |
| 15 years | $7,739 |
| 17 years | $10,390 |
| 19 years | $13,042 |
| 21 years | $15,693 |
| 23 years | $18,344 |
| 25 years | $20,995 |
Top Solar Installers in Rockingham
Although it's possible to install solar panels by yourself, it involves extra labor and know-how. That's one of the reasons most homeowners choose a solar panel installer. Another benefit of utilizing a solar installer is that they can help you optimize your return of investment by reducing your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you're looking for a solar company in Rockingham, we've 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 Rockingham
Factors that Affect Solar Panel Costs in Rockingham
Though the average cost of a solar system in Rockingham is $12,144, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,540 per kilowatt in Rockingham. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Rockingham, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you select will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. 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 specific equipment options like Tesla Powerwall batteries or extra 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 | $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
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: The brand of solar panel you want plays a part in which installer you should go with, since different companies offer different panels.
- Warranty: If you're worried about the endurance of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: When looking 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 if the company goes out of business.
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 Rockingham, NC Solar Cost FAQs
What is the average cost of installing 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 actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Rockingham?
Leasing solar panels can be an attractive choice, because it typically 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 option if you want to get the most savings.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $970.17 per year.
How long do solar panels last in Rockingham?
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 the amount of energy they produce will have decreased significantly after that point. You can replace them after having 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.