Solar Panel Cost Guide in Sanford, NC (2023 Update)
- Sanford Solar Installation Cost: $12,339
- 25-Year Savings: $22,261
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Sanford
Let's have a look at the average cost of solar in Sanford.
Although the national average of solar panels is $2.66 per watt, solar panels in Sanford typically cost around 2.54. The average solar panel system size in Sanford is around 6.9 kilowatts, meaning a cost of about $12,339 for a solar installation, or $17,645 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Sanford homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Sanford can save around $19,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar installer in Sanford for a custom estimate.
Solar savings over time in Sanford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,955 |
| 3 years | $-8,187 |
| 5 years | $-5,419 |
| 7 years | $-2,651 |
| 9 years | $117 |
| 11 years | $2,885 |
| 13 years | $5,653 |
| 15 years | $8,421 |
| 17 years | $11,189 |
| 19 years | $13,957 |
| 21 years | $16,725 |
| 23 years | $19,493 |
| 25 years | $22,261 |
Top Solar Installers in Sanford
Trying to put up solar panels by yourself can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for you.
There are a number of 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 Sanford
Factors that Affect Solar Panel Costs in Sanford
The cost of installing a solar system in Sanford can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Sanford, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $2,540 for each additional kilowatt you need. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Sanford to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Sanford, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Sanford are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $18,811 | 9.3 years |
| 8 kW | $2.59 | $14,508 | $25,366 | 9.1 years |
| 10 kW | $2.54 | $17,780 | $32,063 | 8.9 years |
| 12 kW | $2.49 | $20,909 | $38,902 | 8.7 years |
| 14 kW | $2.44 | $23,896 | $45,883 | 8.6 years |
| 16 kW | $2.39 | $26,741 | $53,007 | 8.4 years |
| 18 kW | $2.34 | $29,444 | $60,273 | 8.2 years |
| 20 kW | $2.29 | $32,004 | $67,681 | 8.0 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Sanford, NC Solar Cost FAQs
How much does it cost to install solar panels in Sanford?
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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Sanford?
Solar panels aren't free in Sanford, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Sanford?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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.