Solar Panel Cost Guide in Royal Pines, NC (Mar 2023)
- Royal Pines Solar Installation Cost: $12,393
- 25-Year Savings: $20,846
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Royal Pines
See how much it might cost to switch to solar power in Royal Pines.
The national average cost of solar panels is $2.66 per watt, but in Royal Pines it's 2.54 per watt. Using this figure, a typical 7.0-kW system would cost about $12,393 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will vary based on the amount of energy your home requires and what company you want to go with. Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Royal Pines can save about $18,000 on their electricity bills over 20 years.
To receive a free estimate from a vetted solar company in Royal Pines, you can click the button below.
Solar savings over time in Royal Pines
| Year | Return on Investment |
|---|---|
| 1 years | $-11,063 |
| 3 years | $-8,404 |
| 5 years | $-5,745 |
| 7 years | $-3,086 |
| 9 years | $-427 |
| 11 years | $2,232 |
| 13 years | $4,891 |
| 15 years | $7,551 |
| 17 years | $10,210 |
| 19 years | $12,869 |
| 21 years | $15,528 |
| 23 years | $18,187 |
| 25 years | $20,846 |
Top Solar Installers in Royal Pines
Putting up solar panels on your own can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be useful as well, especially if you aren't sure what brand of solar equipment would be right for your home.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Royal Pines
Factors that Affect Solar Panel Costs in Royal Pines
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Royal Pines: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,540. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Royal Pines average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over five to seven years on average. While solar loans make adopting solar energy more accessible for Royal Pines homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Royal Pines is the company you hire to install your PV system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services at different costs. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $17,535 | 9.7 years |
| 8 kW | $2.59 | $14,508 | $23,665 | 9.5 years |
| 10 kW | $2.54 | $17,780 | $29,937 | 9.3 years |
| 12 kW | $2.49 | $20,909 | $36,351 | 9.1 years |
| 14 kW | $2.44 | $23,896 | $42,907 | 8.9 years |
| 16 kW | $2.39 | $26,741 | $49,606 | 8.8 years |
| 18 kW | $2.34 | $29,444 | $56,446 | 8.6 years |
| 20 kW | $2.29 | $32,004 | $63,429 | 8.4 years |
How to Save on Solar Panels
There are numerous companies available in Royal Pines, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- 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 most likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: When going solar, it's important to maintain an open line of communication with your solar installer. Make sure you understand how the installation process works and the project timeline.
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 Royal Pines, NC Solar Cost FAQs
What is the average cost of installing solar panels in Royal Pines?
This is a tough question to answer exactly, 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Royal Pines?
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 bang for your buck from going solar.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $954.33 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to 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.