Solar Panel Cost Guide in Sanford, NC (2024 Update)
- Sanford Solar Installation Cost: $17,056
- 25-Year Savings: $22,258
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Sanford
We break down average solar pricing in Sanford.
While the national average of solar panels is $2.66 per watt, solar panels in Sanford generally cost about 4.Because a 6.9-kW system is needed to cover the energy costs of a typical home in Sanford, the average price of going solar will be about $17,056 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $19,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Sanford for a quote for your home.
Solar savings over time in Sanford
| Year | Return on Investment |
|---|---|
| 1 years | $-15,500 |
| 3 years | $-12,388 |
| 5 years | $-9,276 |
| 7 years | $-6,165 |
| 9 years | $-3,053 |
| 11 years | $59 |
| 13 years | $3,171 |
| 15 years | $6,283 |
| 17 years | $9,395 |
| 19 years | $12,507 |
| 21 years | $15,619 |
| 23 years | $18,731 |
| 25 years | $21,842 |
Top Solar Installers in Sanford
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar panel installer can make your swap to solar power much easier. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
If you're looking for a solar company in Sanford, the EcoWatch team has put together 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
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 depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Sanford, one of the most crucial 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 usage, which you can determine by looking at past power bills. Your overall cost can increase by around $3,510 for each additional kilowatt you need.The type of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider 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 installers in Sanford offer solar loans, which reduce your upfront costs of installing solar panels.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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Sanford is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that provide a range of services at different costs.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $14,574 | 12.8 years |
| 8 kW | $3.58 | $20,049 | $19,825 | 12.6 years |
| 10 kW | $3.51 | $24,570 | $25,273 | 12.3 years |
| 12 kW | $3.44 | $28,894 | $30,917 | 12.1 years |
| 14 kW | $3.37 | $33,022 | $36,758 | 11.8 years |
| 16 kW | $3.30 | $36,953 | $42,795 | 11.6 years |
| 18 kW | $3.23 | $40,688 | $49,029 | 11.3 years |
| 20 kW | $3.16 | $44,226 | $55,459 | 11.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose significantly influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Reputation: Your solar installer should have a sound 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Sanford, NC Solar Cost FAQs
How much does it cost to install solar panels in Sanford?
The average cost of solar panels in Sanford is about $17,550 for a 5-kW system and $35,100 for a 10-kW system before the ITC, but the real cost will depend on things like the model 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 Sanford?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to 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.